Taiwo Oyedele Admits to ‘Manual Errors’ in Nigeria’s New Tax Law; Correction Bill Proposed

In a stunning admission on Saturday, April 11, the Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, confirmed that Nigeria’s newly implemented tax laws contain errors.

Speaking at the 2026 Annual Conference of the Nigerian Bar Association (NBA), Oyedele attributed the discrepancies to “manual processes and multiple stages of review” during the legislative drafting phase.

This admission follows months of investigative reports suggesting that the gazetted version of the law differed from what was actually passed by the National Assembly.

1. What Went Wrong?

The errors emerged during the transition from the drafting committee to the final harmonized version signed into law.

According to official statements, these “procedural lapses” led to inconsistencies in how certain tax brackets and enforcement rules were written.

Lawmakers have already constituted a seven-member panel to investigate how these alterations occurred.

2. The Proposed Fix: A New Finance Bill

Oyedele assured stakeholders that these issues are already being addressed through a proposed Finance Bill.

This bill will act as a “correctional overlay” to ensure the law aligns with the original policy intent of fairness and transparency.

“What we need is a more transparent and reliable legislative process where every version of a law is publicly available,” Oyedele stated.

3. What This Means for Taxpayers Right Now

For individuals filing on the [LIRS portal] or businesses verifying via the [FIRS portal], the core mission remains the same.

Oyedele emphasized that enforcement will not be arbitrary and that the policy’s intent, protecting low-income earners, remains the priority.

However, taxpayers are advised to keep records of all filings in case the upcoming corrections retroactively affect their 2026 liabilities.

4. Consistency is Key for Investors

The admission is seen as a move to maintain investor confidence by being transparent about the “growing pains” of the NRS transition.

Oyedele noted that if policies change overnight without clarity, it sends the wrong signal to the global market.