There were no errors in the new tax law - Presidential committee
By Damilare Adeleye
The Presidential Fiscal Policy and Tax Reforms Committee has dismissed as “misleading” reports alleging that the Minister of State for Finance, Taiwo Oyedele, admitted to errors in Nigeria’s newly implemented tax laws.
Earlier, there were reports that while speaking at the 2026 Annual Conference of the Nigerian Bar Association Section on Legal Practice, Oyedele, who also chairs the Presidential Fiscal Policy and Tax Reforms Committee, had acknowledged that discrepancies emerged during the legislative and documentation processes.
He had said steps were underway to correct identified issues through a proposed finance bill and to realign the laws with their original intent.
“That errors occurred due to manual processes and multiple stages of review in the drafting and legislative process,” the minister was quoted as saying.
“What we need is a more transparent and reliable legislative process where every version of a law is publicly available.”
Meanwhile, reacting in a statement issued on Sunday, the committee described the reports as a distortion of the Minister’s comments, stressing that at no point did he call for a legislative probe into the reforms.
It noted that the legislative process on the tax laws had already been concluded, with certified gazetted copies published by the National Assembly of Nigeria as far back as January 2026.
The committee warned that such “twisted narratives” risk undermining public understanding and confidence in the reforms, which it said were designed to broaden the tax base and ease the burden on vulnerable Nigerians.
Clarifying the Minister’s remarks, the statement explained that Oyedele highlighted early gains from the tax regime.
According to the committee, these include a surge in informal businesses seeking registration with the Corporate Affairs Commission, as well as an increase in the number of registered taxpayers—from fewer than 10 million prior to the reforms to over 100 million nationwide.
“These impressive results stem from the robust design and progressive nature of the new laws, which include: Exemption of small companies from tax. Increased exemption thresholds for low-income earners.Tax exemptions on basic consumption items like food, education, healthcare, transportation, and rent. Introduction of the Tax Ombud to protect taxpayer right,” the statement added.
While defending the framework, Oyedele was quoted as acknowledging that no law is without flaws. He emphasised the need for continuous stakeholder engagement to identify gaps and implement necessary adjustments through future Finance Bills
“The Minister contrasted the transformative changes in the new laws with the regressive provisions in the old laws. 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,” the Presidential Tax Committee added.
It further urged Nigerians to disregard sensational headlines and rely on official channels for accurate information on government policies, and affirmed the government’s commitment to refining the tax system in line with economic realities and public interest.