The Federal Government has refuted reports claiming that the Minister of State for Finance, Taiwo Oyedele, admitted to errors in Nigeria’s newly introduced tax laws.
The Presidential Fiscal Policy and Tax Reforms Committee, in a statement issued on Sunday via Oyedele’s official X handle, described the reports as misleading and a distortion of the minister’s remarks.
The committee said the publications wrongly suggested that Oyedele acknowledged flaws in the tax laws and advised Nigerians to await the outcome of a legislative probe.
It clarified that the legislative review process had already been concluded, noting that certified copies of the laws were gazetted by the National Assembly as far back as January 2026.
According to the statement, Oyedele, while speaking at a fireside chat during the Nigerian Bar Association Section on Legal Practice conference in Lagos, focused on the early impact of the reforms rather than admitting any errors.
The committee highlighted that the reforms had driven a significant increase in the number of informal businesses seeking registration with the Corporate Affairs Commission, alongside a surge in registered taxpayers from about 10 million to over 100 million nationwide.
It attributed the development to provisions in the tax framework, including exemptions for small businesses and low-income earners, as well as relief measures on essential goods and services.
The statement also listed key features of the reforms to include tax waivers on food, education, healthcare, transportation and rent, in addition to the introduction of a Tax Ombud to safeguard taxpayers’ rights.
While noting that Oyedele acknowledged that no legislation is entirely flawless, the committee explained that he emphasised the importance of continuous stakeholder engagement to address any gaps through subsequent amendments.
“He emphasised that ongoing consultations would help identify areas for improvement, which can be addressed through future Finance Bills,” the statement noted.
The committee urged the public to disregard what it termed sensational and inaccurate reports, advising Nigerians to rely on verified official sources for information on government policies.
The tax reforms, signed into law in 2025 and implemented in January 2026, are aimed at streamlining the country’s tax system, expanding the revenue base, reducing multiple taxation, and easing the burden on small businesses and low-income earners.
Concerns had, however, been raised by some stakeholders over alleged discrepancies between the versions of the laws passed by the National Assembly and those made available to the public.
