The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has set up an inter-ministerial committee, which would be tasked with developing a new Value Added Tax (VAT) Modification Order to support the implementation of Nigeria’s Tax Reform Acts.
Oyedele announced this in a statement posted on his X handle on Friday.
He said the committee would draft a modern VAT framework to align with the Tax Reform Acts, which took effect on January 1, 2026.
According to the statement, the committee was inaugurated at the Federal Ministry of Finance headquarters in Abuja.
“The Tax Reform Acts represent the most comprehensive reform of Nigeria’s tax system in decades.
“They simplify our tax laws, improve certainty, enhance competitiveness, protect vulnerable Nigerians, and position our economy for sustainable growth,” Oyedele said
The minister said the committee’s mandate was not to recreate the previous VAT Modification Order, which has been superseded by the new legislation.
