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The Presidential Fiscal Policy and Tax Reforms Committee has said that claims that Taiwo Oyedele, the Minister of State for Finance, admitted to mistakes in Nigeria’s new tax laws are false and misleading.
Taiwo Oyedele, the Minister of State for Finance, made the clarification in a statement he posted on his X handle on Sunday.
“Our attention has been drawn to false media reports that say the Honourable Minister of State for Finance, Mr. Taiwo Oyedele, has “finally admitted errors in the new tax laws.”
“These articles misrepresent what the Minister said by falsely claiming that he told Nigerians to wait for the results of a “legislative probe,” which has been over for a long time and the National Assembly has published certified copies of the gazetted copies since early January 2026.
“This twisted story is not helpful because it could confuse people and mislead the people the reforms were meant to help.
During a recent fireside chat at the NBA SLP conference in Lagos, the minister talked about how the new tax laws have already had a positive effect. For example, thousands of informal businesses are now looking for CAC registration every day, and the number of people registered for tax purposes nationwide has gone from less than 10 million before the reform to more than 100 million.
“These great results come from the strong design and forward-thinking nature of the new laws, which include: Small businesses being exempt from taxes. Higher exemption limits for people with low incomes. No taxes on basic things like food, school, health care, transportation, and rent. The Tax Ombud was set up to protect the rights of taxpayers.
“The Minister compared the new laws’ changes that would make things better with the old laws’ changes that would make things worse. He did, however, stress that no law is perfect.
“Therefore, it is important to keep talking to stakeholders to find and fix any mistakes or gaps so that appropriate legislative updates can be made through Finance Bills as part of a process of continuous improvement.”
“We ask the public to ignore sensational headlines and twisted stories and only get their information about tax reform and other government policies from official sources and trustworthy news organizations.”
