The Minister of State for Finance and Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has refuted claims that he admitted flaws in Nigeria’s newly introduced tax laws.
In a statement released by the committee, the reports were described as misleading and a distortion of the minister’s remarks. The committee clarified that Oyedele never called for Nigerians to wait for any “legislative probe,” noting that such a process had already been concluded, with certified versions of the laws published since January 2026.
According to the statement, the narrative being circulated could confuse the public and undermine the intent of the reforms, which were designed to improve the country’s tax system.
The committee explained that Oyedele, while speaking at a recent fireside chat during the NBA SLP conference in Lagos, actually highlighted the early gains of the new tax policies. These include a surge in informal businesses seeking registration with the Corporate Affairs Commission and a sharp rise in the number of Nigerians captured in the tax net—from under 10 million before the reforms to over 100 million.
It added that the new tax framework includes several progressive measures, such as exemptions for small businesses, higher relief thresholds for low-income earners, and tax waivers on essential items like food, healthcare, education, rent, and transportation. The introduction of a Tax Ombudsman to safeguard taxpayers’ rights was also noted as a key feature.
While acknowledging that no law is entirely perfect, the committee said Oyedele only emphasised the need for continuous engagement with stakeholders to identify gaps and make improvements through future Finance Bills.
The committee urged Nigerians to ignore sensational headlines and rely on verified sources for accurate information about the reforms and other government policies.
