The Presidential Fiscal Policy and Tax Reforms Committee has denied reports claiming that the Minister of State for Finance, Taiwo Oyedele, admitted to errors in Nigeria’s newly introduced tax laws.
In a statement shared via his official X account, the committee described the reports as misleading and a distortion of the minister’s remarks, insisting that the comments were taken out of context.
According to the statement, Oyedele did not concede any errors in the tax framework but instead highlighted early positive outcomes of the reforms, including increased tax registration and broader participation from informal sector businesses.
The committee noted that the reforms have contributed to a rise in registered taxpayers from about 10 million to over 100 million, attributing the growth to provisions such as tax exemptions for low-income earners and small businesses, as well as relief measures on essential goods and services.
It also stressed that while no law is perfect, the minister only emphasized the importance of continuous review and stakeholder engagement to improve the legislation through future amendments.
The committee urged the public to disregard what it called sensational reports and rely on verified official sources for accurate information on government policies.
