The Presidential Fiscal Policy and Tax Reforms Committee has rejected claims that the Minister of State for Finance, Taiwo Oyedele, admitted flaws in Nigeria’s newly introduced tax laws.
In a statement shared via Oyedele’s X account on Sunday, the committee described such reports as “misleading,” insisting they distort the minister’s actual remarks.
“Our attention has been drawn to misleading media reports claiming that the Honourable Minister of State for Finance, Mr. Taiwo Oyedele has ‘finally admitted errors in the new tax laws.’
“These publications misrepresent the Minister’s statements, falsely alleging that he urged Nigerians to await the outcome of a ‘legislative probe’, a process that has long been concluded and the gazetted copies certified by the National Assembly published since early January 2026,” the statement said.
The committee cautioned that such narratives could confuse the public and undermine understanding of the reforms.
It explained that Oyedele, speaking at a Nigerian Bar Association conference in Lagos, focused on the early benefits of the tax changes rather than admitting any errors.
Among the gains highlighted were a surge in informal businesses registering with the Corporate Affairs Commission and a sharp increase in the number of taxpayers nationwide from about 10 million to over 100 million.
“These impressive results stem from the robust design and progressive nature of the new laws,” the committee said.
The statement added that key provisions such as tax exemptions for small businesses and low-income earners, along with relief on essential goods and services have driven these outcomes.
While acknowledging that no legislation is flawless, the minister stressed the importance of ongoing engagement to refine the laws where necessary.
“He, however, emphasized that no law is perfect. Therefore, ongoing stakeholder engagement is essential to identify and address any errors or gaps for appropriate legislative updates through Finance Bills as part of a continuous improvement process,” the statement said.
The committee urged Nigerians to ignore sensational reports and rely on verified sources for accurate information.
“We urge members of the public to disregard sensational headlines and twisted narratives and rely exclusively on official sources and credible media organisations for accurate information regarding the tax reform and other government policies,” it added.
