The Presidential Fiscal Policy and Tax Reforms Committee has refuted reports claiming that the Minister of State for Finance, Taiwo Oyedele, admitted errors in Nigeria’s new tax laws.
In a statement issued on Sunday, the committee described the reports as misleading and a misrepresentation of the minister’s remarks, insisting that he did not call for any legislative probe.
According to the committee, some media publications falsely suggested that Oyedele acknowledged flaws in the laws and advised Nigerians to await the outcome of a review process that had already been concluded.
It clarified that the tax laws were duly passed, certified by the National Assembly, and gazetted in January 2026, warning that inaccurate narratives could mislead the public.
The committee explained that Oyedele, while speaking at a Nigerian Bar Association conference in Lagos, highlighted early gains from the reforms rather than admitting errors.
It noted that the reforms have led to a surge in the number of informal businesses seeking registration with the Corporate Affairs Commission, as well as a sharp increase in registered taxpayers from about 10 million to over 100 million nationwide.
The statement attributed these outcomes to provisions in the new laws, including tax exemptions for small businesses and low-income earners, as well as relief on essential goods and services such as food, healthcare, education, transportation, and rent.
It added that the reforms also introduced measures like a Tax Ombud to safeguard taxpayers’ rights.
While acknowledging that no law is perfect, the committee said Oyedele emphasised the importance of continuous stakeholder engagement to identify gaps and implement improvements through future amendments.
The committee urged the public to disregard sensational reports and rely on official sources for accurate information on the reforms.
The tax laws, signed in 2025 and implemented in January 2026, are aimed at simplifying Nigeria’s tax system, expanding the revenue base, and reducing the burden on low-income earners and small businesses.
However, concerns had previously been raised by some lawmakers and professional bodies over alleged discrepancies in the legislation, claims the committee has consistently dismissed while maintaining that implementation is ongoing.
