The Federal Government has refuted reports suggesting that the Minister of State for Finance, Taiwo Oyedele, admitted flaws in Nigeria’s newly introduced tax laws, describing such claims as inaccurate and misleading.
In a post made on his X page on Sunday, the Presidential Fiscal Policy and Tax Reforms Committee said the reports misrepresented the minister’s comments and created a false narrative about the reforms.
The committee clarified that Oyedele did not call for any pending legislative probe, noting that the review process for the tax laws had already been concluded, with certified copies published by the National Assembly of Nigeria earlier in January 2026.
“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, with gazetted copies certified by the National Assembly and published since early January 2026,” the statement said.
According to the statement, the minister’s remarks at a fireside chat during the Nigerian Bar Association Section on Legal Practice conference in Lagos focused on highlighting the progress recorded since the implementation of the reforms.
It noted that the new tax framework has led to a surge in business formalisation, with more informal enterprises registering with the Corporate Affairs Commission.
It also cited a sharp increase in the number of registered taxpayers nationwide, rising from about 10 million to over 100 million.
The committee attributed these developments to key provisions in the reforms, including tax exemptions for small businesses and low-income earners, as well as relief measures on essential goods and services.
It added that the reforms introduced safeguards such as a Tax Ombud to protect taxpayers, alongside exemptions covering critical areas like food, education, healthcare, transportation, and housing.
While acknowledging that no legislation is without limitations, the committee said Oyedele only emphasised the need for continuous engagement with stakeholders to improve the laws through future Finance Bills.
The government, however, cautioned against the spread of sensational or distorted reports, urging Nigerians to rely on verified sources for accurate information on tax policies and other reforms.
“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,” the committee added.
