FG Pushes Back on Reports That Tax Reform Minister Admitted Errors in New Laws

The Presidential Fiscal Policy and Tax Reforms Committee has pushed back against media reports claiming the Minister of State for Finance, Taiwo Oyedele, admitted mistakes in Nigeria’s newly introduced tax laws, calling the coverage misleading.

In a statement on Sunday, the committee said the reports wrongly presented Oyedele’s comments and gave the impression that he had asked Nigerians to wait for the outcome of a legislative investigation. The problem? That investigation is already over. Certified and gazetted copies of the laws were released by the National Assembly back in early January 2026.

The controversy appears to have started from comments Oyedele made during a fireside discussion at the Nigerian Bar Association’s Section on Legal Practice conference in Lagos. He had spoken about the early outcomes of the new tax system, pointing to a surge in informal businesses registering with the Corporate Affairs Commission and the expansion of the tax net from fewer than 10 million people before the reforms to over 100 million now.

Somewhere between those remarks and the headlines, the message got distorted. The committee’s pushback was blunt: the publications created a false impression, and the public should ignore them.

What the reforms actually do

The committee also took the opportunity to defend the reforms themselves. Smaller companies are now exempt from paying taxes. People on lower incomes have higher exemption limits. Essential needs like food, education, healthcare, transport and rent are not taxed. A Tax Ombud has been created to protect taxpayers.

That said, the committee didn’t claim the laws were perfect. It acknowledged that legislation can be improved over time and said ongoing discussions with stakeholders would help identify gaps, with updates coming through future finance bills.

Oyedele in the crosshairs

The new tax laws have been controversial since they were passed. Supporters say they broaden the tax base and ease the burden on low-income earners. Critics argue the implementation has been rushed and that the government hasn’t done enough to explain what’s actually changing for everyday Nigerians. Oyedele, who chaired the tax reform committee before being appointed minister, has been the public face of that push, which makes any perceived walk-back from his own reforms an easy headline.

But according to the committee, there was no walk-back. Just a fireside chat that got lost in translation.

The committee’s advice to Nigerians was simple: rely on verified information from official channels and trusted media, not sensational headlines.

Sources: NaijaNews, Premium Times, Vanguard