Minister Of State For Finance Acknowledges Drafting Errors In New Tax Laws; Promises Legislative Corrections

Minister of State for Finance Taiwo Oyedele acknowledges drafting errors in tax reforms and promises a new Finance Bill to correct inconsistencies and protect low-income earners.

By: AXL Media

Published: Apr 11, 2026, 6:47 AM EDT

Source: Information for this report was sourced from Politics Nigeria

Admission Of Procedural Lapses In Legislation

During a fireside chat at the 2026 annual conference of the Nigerian Bar Association (NBA) Section on Legal Practice, Taiwo Oyedele, the Minister of State for Finance and Chairman of the Fiscal Reforms Committee, formally acknowledged technical flaws in the nation's new tax reform laws. The Minister explained that "manual processes and multiple stages of review" during the drafting and legislative phases led to inconsistencies and procedural errors. This admission follows a period of public and legal scrutiny regarding the clarity and consistency of the new tax framework.

Corrective Measures Via Proposed Finance Bill

To address the identified errors, Oyedele announced that the government is preparing a corrective Finance Bill. This legislative instrument is intended to harmonize the conflicting provisions and ensure that the laws accurately reflect the government's policy intent. The Minister urged the public and the legal community to remain patient while a legislative probe into the discrepancies is completed, stressing that a transparent and reliable process is being established to prevent future versions of laws from being published with similar oversights.

Focus On Protecting Low-Income Earners

Despite the drafting errors, Oyedele emphasized that the core philosophy of the tax reforms remains focused on equity and fairness. He noted that the new framework is specifically designed to shield low-income earners and small businesses from excessive tax burdens. Highlighting national income data, he stated that nearly half of working Nigerians earn less than 70,000 Naira monthly and argued that taxing this demographic aggressively would be socially and economically unjust. The reforms aim to ensure that individuals earning approximately 1 million Naira annually are not overburdened by the state.