THE Presidential Fiscal Policy and Tax Reforms Committee has dismissed reports alleging that the Minister of State for Finance, Taiwo Oyedele, admitted errors in Nigeria’s new tax laws.
In a statement posted on Sunday, April 12, via Oyedele’s X handle, the committee described the reports as misleading, saying they misrepresented the minister’s remarks.
It clarified that claims suggesting Oyedele called on Nigerians to await the outcome of a legislative probe were false, noting that the legislative process had already been concluded and certified copies of the laws published by the National Assembly since early January 2026.
The committee warned that such narratives could distort public understanding of the reforms.
It explained that the minister, while speaking at a fireside chat during the Nigerian Bar Association (NBA) Section on Legal Practice conference in Lagos, highlighted early gains recorded since the implementation of the tax laws.
According to the committee, these gains include a significant increase in the number of informal businesses seeking registration with the Corporate Affairs Commission (CAC), as well as a rise in registered taxpayers from about 10 million to over 100 million nationwide.
The committee attributed the development to provisions in the new laws, including tax exemptions for small companies and low-income earners, as well as reliefs on essential goods and services.
It added that the reforms were designed to ease the tax burden through measures such as exemptions on food, education, healthcare, transportation and rent, alongside the introduction of a Tax Ombud to protect taxpayers’ rights.
The committee also noted that Oyedele acknowledged that no law is perfect and stressed the need for continuous stakeholder engagement to address any gaps through future amendments under the Finance Act process.
It urged the public to disregard what it described as sensational reports and rely on official sources for accurate information on the reforms.
The new tax laws, signed in 2025 and implemented in January 2026, aim to simplify Nigeria’s tax system, expand the revenue base, reduce multiple taxation, and ease the burden on low-income earners and small businesses.
However, concerns emerged late last year when some lawmakers, including Abdussamad Dasuki, raised issues over alleged discrepancies between the harmonised bills passed by the National Assembly and the gazetted versions.
Professional services firm KPMG had also flagged potential inconsistencies, gaps and omissions in the laws.
Oyedele, who chaired the Presidential Fiscal Policy and Tax Reforms Committee, has previously dismissed similar claims, maintaining that implementation is ongoing while necessary refinements are being made.
Some media platforms had reported that Oyedele admitted to errors in Nigeria’s tax reform laws, assuring that measures are underway to correct the identified issues.
Oyedele addressed concerns about reported discrepancies in the new laws during a fireside chat at the 2026 annual conference of the Nigerian Bar Association (NBA) section on legal practice.
Nurudeen Akewushola is an investigative reporter and fact-checker with The ICIR. He believes courageous in-depth investigative reporting is the key to social justice, accountability and good governance in society. You can reach him via nyahaya@icirnigeria.org and @NurudeenAkewus1 on Twitter.