Tax Reforms Committee dismisses Oyedele’s alleged admission of ‘errors’ in Nigeria’s new tax laws

*The Presidential Fiscal Policy and Tax Reforms Committee describes the misrepresentation of Taiwo Oyedele, Minister of State for Finance, as ‘misleading media reports’, distorting the public understanding of same reforms designed to benefit millions of Nigerian consumers

Isola Moses | ConsumerConnect

The Presidential Fiscal Policy and Tax Reforms Committee has reacted to what it described as “misleading media reports” claiming that Mr. Taiwo Oyedele, Honourable Minister of State for Finance, has “finally admitted errors in the new tax laws.”

The Committee, in a statement, Sunday, April 12, 2026, said such publications misrepresented the Minister’s statements, falsely alleging that he urged Nigerians to await the outcome of a “legislative probe”.

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The statement noted that such a process had long been concluded, and the gazetted copies already certified by the National Assembly (NASS), and published since early January this year.

The Presidential Fiscal Policy and Tax Reforms Committee also stated: “This twisted narrative is unhelpful as it risks distorting public understanding and misleading the very people the reforms were designed to benefit.”

The Committee further explained that Oyedele, during a recent fireside chat at the NBA SLP conference, in Lagos, highlighted the early positive impact of the new tax laws.

The statement noted such impact includes thousands of informal businesses now seeking CAC registration daily while the number of individuals registered for tax purposes nationwide has increased from barely 10 million before the reform to over 100 million.

According to the Committee, these impressive results emanated from ” the robust design and progressive nature of the new laws”, including exemption of small companies from tax; and increased exemption thresholds for low-income earners.

Others, the Presidential Committee stated are tax exemptions on basic consumption items, such as food, education, healthcare, transportation, and rent, and introduction of the Tax Ombud to protect taxpayer right.

The statement further explained the Minister rather contrasted the transformative changes in the new laws with the regressive provisions in the old laws.

“He, however, emphasised that no law is perfect,” noted the Committee.

The Presidential Fiscal Policy and Tax Reforms Committee added: “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.

“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.”

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