Breaking: FG Moves To Correct Report Claiming Oyedele Admitted Tax Law Flaws

In a statement issued on Sunday, the committee said the reports misrepresented the minister’s remarks and wrongly suggested that he asked Nigerians to await the outcome of a legislative review.

It clarified that the process referenced in the reports had already been completed, noting that certified and gazetted copies of the tax laws were released by the National Assembly as far back as January 2026.

The committee warned that such reports could mislead the public and distort understanding of the ongoing tax reforms and their objectives.

It further explained that during a recent fireside chat at the Nigerian Bar Association Section on Legal Practice conference in Lagos, the minister highlighted early results from the new tax framework.

According to it, he noted increased registration of informal businesses with the Corporate Affairs Commission, as well as a significant rise in the number of Nigerians within the tax net, which has grown from under 10 million before the reforms to over 100 million.

The committee added that the reforms were designed to ease the burden on small businesses and low-income earners, stressing that small companies are now exempt from certain taxes, while lower-income individuals benefit from higher exemption thresholds.

It also stated that basic necessities such as food, education, healthcare, transport, and rent are not subject to taxation under the new system, alongside the introduction of a Tax Ombud to protect taxpayers’ rights.

While defending the reforms, the committee acknowledged that tax laws can be reviewed and improved over time, noting that ongoing stakeholder engagement would help identify gaps for future amendments through finance bills.

Finally, it urged the public to disregard misleading reports and rely only on verified information from official government channels and credible media outlets regarding tax policy developments.