FG Denies Finance Minister Admitted Errors in New Tax Laws

The Federal Government has clarified that the Minister of State for Finance, Taiwo Oyedele, did not admit to errors in Nigeria’s newly introduced tax laws, countering widespread reports suggesting otherwise.

In a statement addressing the controversy, the government insisted that Oyedele’s remarks at a recent public engagement had been misinterpreted. It maintained that while the minister acknowledged concerns around the tax reforms, he did not concede that the laws themselves were flawed.

The clarification follows earlier reports claiming that the minister admitted to mistakes in the drafting of the new tax framework and assured Nigerians that corrective measures were underway. Those reports cited comments attributed to Oyedele during a discussion on tax reforms at a Nigerian Bar Association event.

However, the Federal Government stressed that the ongoing tax reforms remain sound and aligned with policy objectives aimed at improving transparency, fairness, and revenue generation.

It further noted that the reforms are designed to address longstanding inefficiencies in Nigeria’s tax system, including inconsistencies in tax administration and the burden on businesses and low-income earners.

The government urged the public to rely on official communications to avoid misinformation, reiterating its commitment to implementing a tax regime that supports economic growth while protecting vulnerable groups.

The clarification comes amid heightened scrutiny of Nigeria’s new tax laws, which have sparked debates among stakeholders over their content, implementation, and potential impact on businesses and citizens.

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