RismadarVoice Reporters
September 18, 2026
The Federal Government has begun preparations for the 2027 budget with the inauguration of a subcommittee tasked with reviewing existing fiscal and tax reforms and recommending measures for an implementable 2027 Finance Bill.
The Subcommittee on Fiscal Policy and Tax Reforms was inaugurated in Abuja by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele.
The committee, chaired by Permanent Secretary Raymond Omachi, with Albert Folorunsho as co-chair, has six weeks to submit its report.
The Finance Bill traditionally accompanies the annual budget and provides the legislative framework for implementing proposed fiscal and tax measures.
WHAT THE COMMITTEE WILL DO
The committee’s mandate is not to prepare the entire 2027 federal budget or rewrite Nigeria’s existing tax reforms.
Its assignment is specifically to review how the current fiscal and tax framework is working, identify problems that have emerged during implementation and recommend amendments or new measures for inclusion in the 2027 Finance Bill.
The panel is expected to identify ambiguous provisions, unintended consequences and unnecessary compliance burdens, while proposing measures to improve investment, competitiveness and productivity.
It will also examine proposals on revenue and taxation against their broader impact on businesses and the economy, rather than considering their revenue-generating potential alone.
Oyedele said the objective was to preserve the fundamental principles of the 2025 reforms while adjusting areas where practical experience had revealed shortcomings.
“The Finance Bill 2027 should not be seen as just another annual legislative exercise,” he said, stressing that the exercise should respond to lessons from implementation and emerging economic realities.
OVER 134 MEMORANDA RECEIVED
The minister disclosed that the public consultation process had attracted more than 134 online memoranda, alongside numerous hard-copy submissions.
Businesses, investors, professional bodies, civil society organisations, academics and citizens were invited to submit practical, evidence-based proposals.
The committee will review those submissions and determine which recommendations merit consideration for the Finance Bill, guided by evidence and national economic interest.
Oyedele also directed the panel to consider measures capable of attracting investment, expanding production, strengthening manufacturing and encouraging businesses to enter the formal economy.
The committee’s recommendations will therefore form an input into the 2027 Finance Bill and its accompanying fiscal measures, rather than constituting the federal budget itself.
