The Presidential Fiscal Policy and Tax Reforms Committee has denied reports that Taiwo Oyedele admitted errors in Nigeria’s new tax laws.
In a statement shared on Mr Oyedele’s X account on Sunday, the committee said the reports misrepresented his remarks.
It stated that some publications claimed the minister admitted to faults in the tax laws and asked Nigerians to wait for a legislative probe.
“Our attention has been drawn to reports claiming that the minister has admitted errors in the new tax laws,” the statement said.
The committee said that the reports were incorrect and that the legislative process for the laws had been completed.
“These publications misrepresent the minister’s statements and falsely suggest that he asked Nigerians to wait for a legislative probe, a process that has been concluded and the gazetted copies published,” it said.
The clarification followed reports from April 11 which suggested that Oyedele acknowledged errors in the tax framework and said a finance bill would address them.
The committee said Oyedele’s remarks were taken out of context.
It explained that references to issues in the process related to the law-making stages and not faults in the laws.
Taiwo Oyedele, who chairs the committee, spoke at the 2026 Annual Conference of the Nigerian Bar Association Section on Legal Practice.
At the event, he said the reforms were introduced to address issues in the tax system, including differences in how individuals and companies are taxed.
“Under the old system, an individual could pay about 19 percent, but registering the same business as a company pushed the rate above 40 per cent,” he said.
The committee said changes through finance bills are part of the process of updating laws and should not be seen as an admission of errors.
It added that engagement with stakeholders is ongoing to improve implementation.
The committee also said the reforms have led to an increase in tax registration and the number of people in the tax system.
It said the number of individuals captured has risen from fewer than 10 million to over 100 million, while more businesses are seeking registration.
According to the committee, the reforms include tax relief for low-income earners and small businesses and exemptions for some goods and services.
In June 2025, President Bola Tinubu signed four tax reform laws aimed at improving revenue collection.
In March 2026, the federal government introduced tax rules for small businesses to expand the tax base.
