Nigeria TV Info 

Oyedele Admits Errors in New Tax Laws, Assures of Corrections

Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has acknowledged that certain provisions in Nigeria’s newly introduced tax laws contain errors and inconsistencies. He, however, assured Nigerians that steps are already underway to correct the issues and strengthen the overall framework.

Speaking during a stakeholders’ engagement session in Abuja, Oyedele admitted that while the reforms were designed to simplify taxation, improve compliance, and boost government revenue, some sections of the legislation require urgent review. According to him, the government remains committed to transparency and will work with relevant institutions, including the Federal Inland Revenue Service, to address the gaps.

He explained that the reform process is complex and involves harmonizing multiple tax laws, which sometimes leads to unintended overlaps or ambiguities. Oyedele emphasized that feedback from businesses, tax professionals, and the general public has been instrumental in identifying the problematic areas.

The committee has promised to introduce amendments that will eliminate multiple taxation, clarify ambiguous clauses, and ensure fairness for both individuals and corporate entities. Oyedele also reassured investors that the errors would not undermine Nigeria’s fiscal stability or investment climate.

Economic analysts have welcomed the admission, describing it as a sign of accountability, but urged swift action to prevent disruptions in business operations. Many stakeholders are now watching closely to see how quickly the corrections will be implemented.

The federal government reiterated its commitment to building a more efficient, equitable, and investor-friendly tax system that supports economic growth while easing the burden on taxpayers.