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The Presidential Fiscal Policy and Tax Reforms Committee has addressed reports alleging that Minister of State for Finance, Taiwo Oyedele, admitted errors in Nigeria’s new tax laws.
Speaking in a statement shared on Oyedele’s X page on Sunday, the committee dismissed the reports, calling them “misleading” and a misrepresentation of the minister’s comments.
“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 post said.
It added that Oyedele, who spoke at a fireside chat during the Nigerian Bar Association Section on Legal Practice conference in Lagos, highlighted early gains from the tax reforms.
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The statement that these include an increase in the number of informal businesses seeking registration with the Corporate Affairs Commission, as well as a rise in the number of registered taxpayers from about 10 million to over 100 million nationwide.
The committee added that Oyedele acknowledged that no law is perfect, emphasising the need for continuous stakeholder engagement to address any gaps through future amendments.
“He, however, emphasised 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.
“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 stated.
