FG Denies Finance Minister Admitted Errors in Tax Law
• Punch Newspapers • Politics
The Nigerian government, represented by the Presidential Fiscal Policy Tax Reform Committee, has dismissed reports suggesting that Finance Minister Taiwo Oyedele admitted to errors in the new tax laws. The committee described these claims as misleading and a misrepresentation of Oyedele's comments. They emphasized that the minister's statements were distorted by media reports. The committee urged the public to disregard sensational headlines and rely on official sources for accurate information regarding the tax reform process. The new tax law, which is set to be implemented in January 2026, aims to simplify Nigeria's complex tax system, broaden the revenue base, and reduce the tax burden on low earners and small businesses. The committee acknowledged that no law is perfect and stressed the importance of ongoing stakeholder engagement to identify and address any gaps in future amendments. Concerns about discrepancies in the tax law were raised by lawmakers and professional bodies, but the committee maintains that the implementation of the law will proceed as planned.
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