Finance Minister Refutes Claims of Errors in New Tax Laws, Highlights 100 Million Registrations
Our attention has been drawn to misleading reports suggesting that the Minister of State for Finance, Taiwo Oyedele, admitted mistakes in the new tax laws. These accounts wrongly allege he told Nigerians to await a “legislative probe,” despite the process concluding and being gazetted in January 2026. At a recent fireside chat during the NBA SLP conference in Lagos, the Minister highlighted the reforms’ early impact. Thousands of informal businesses now seek CAC registration daily. Individual tax registrations have surged from about 10 million before the reform to over 100 million. Key features include small-company exemptions, higher thresholds for low-income earners, tax relief on basic goods, and a new Tax Ombud to protect taxpayers’ rights. While praising the progressive design, the Minister acknowledged no law is perfect and urged ongoing stakeholder engagement for future Finance Bill updates. We urge the public to ignore sensational headlines and rely on official statements and credible media for accurate information on tax reforms and other government policies.
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