‘You Don’t Understand It,’ Oyedele Flays KPMG Over Tax Reform

The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has taken a swipe at KPMG Nigeria, accusing the firm of misunderstanding the intent and substance of the Nigeria Tax Act (NTA).

Oyedele made the remarks while responding to criticisms and commentaries credited to KPMG on the ongoing tax reform process. He said the positions expressed by the firm showed a lack of proper appreciation of the objectives, design, and expected outcomes of the reforms being undertaken by the Federal Government.

According to Oyedele, the Nigeria Tax Act is not designed to impose additional burdens on Nigerians or businesses, as some analysts have suggested, but rather to simplify the tax system, eliminate multiple taxation, improve transparency, and promote voluntary compliance.

“The reform is about fairness, growth, and efficiency. It is not about increasing taxes for the sake of it,” Oyedele said. “When people say this reform will hurt businesses or worsen the cost of living, it is clear they do not understand what we are trying to achieve.”

He explained that the NTA seeks to harmonise existing tax laws, remove ambiguities, and reduce administrative bottlenecks that discourage investment and productivity. Oyedele added that special attention was given to protecting low-income earners, small businesses, and vulnerable groups while ensuring that those with greater capacity contribute fairly.

Oyedele also stressed that the reform process has been inclusive, noting that consultations were held with stakeholders across the public and private sectors, including professional firms, before key policy decisions were made. He said feedback from these engagements helped shape the final proposals.

Reacting to concerns raised by KPMG and other critics, Oyedele said constructive criticism is welcome but warned against misrepresentations that could mislead the public and investors. He urged analysts and professional bodies to study the provisions of the Act carefully before drawing conclusions.

The tax reform agenda is part of the Federal Government’s broader effort to boost revenue generation, reduce dependence on borrowing, and create a more sustainable fiscal framework for Nigeria’s economy.

Oyedele reaffirmed the committee’s commitment to continuous engagement and clarification, adding that further explanations would be provided as implementation progresses to ensure Nigerians fully understand the benefits of the reform.