Juliet Jacob 
Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele
ABUJA, Nigeria – The Federal Government is pushing back against criticism of Nigeria’s newly enacted tax reforms, insisting that KPMG Nigeria has misinterpreted the intent and structure of the laws.
Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, says the government welcomes constructive feedback but maintains that much of the advisory firm’s analysis reflects opinion rather than legal or policy errors.
In a statement, Oyedele says only a small number of issues raised point to genuine technical or implementation challenges. “We appreciate contributions that improve clarity,” he says. “Some concerns relate to execution risks and minor drafting matters, which are already under review.”
Addressing concerns over the taxation of share disposals, Oyedele rejects claims that the reforms threaten the capital market. “It is incorrect to suggest that share gains are automatically taxed at 30 per cent,” he explains. “The framework is graduated, ranging from zero to a maximum of 30 per cent, with plans to reduce the cap to 25 per cent. About 99 per cent of investors remain exempt.”
The committee chairman points to recent gains in the Nigerian stock market as evidence that investor confidence remains intact. “Market performance shows growing belief that the new tax laws will improve profitability and cash flow over time,” he says.
“These reforms are designed to strengthen the economy sustainably,” he says. “We remain firm on the direction while refining the details.”
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Edino Chubiyo Cornelius 
Oluwafunbi Bello 
Mirian Gom 
Hussaini Ibrahim