Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has identified misinformation as the biggest challenge confronting Nigeria’s ongoing tax reform process.
Oyedele said the reform agenda has been persistently undermined by false narratives and misleading claims, even before allegations of alterations to the tax laws surfaced.
The four executive tax reform bills signed into law by President Bola Ahmed Tinubu are scheduled to take effect on January 1, 2026, but the policies have continued to attract mixed reactions across the country.
Speaking on Channels Television, Oyedele responded to calls by some groups for the suspension of the reforms to prevent confusion at the start of the new year.
“So I think you know, I’ll also tell you that even before this alleged alteration issue came up, there are people who have been calling for suspension,” he said.
“There are people who have been saying no to the reform. We cannot do it for whatever reason. The biggest issue we’ve had to deal with, and that we’re still dealing with, has been misinformation.”
He explained that even if there were intentions to delay implementation, such a decision does not rest with the executive committee.
“Now, if you speak to the legal provisions and who has the powers, even if we want to postpone the implementation of the law, it has to be the lawmakers. That’s far beyond my pay grade. So that decision has to be made, and I believe that decision for them will be a function of what their findings from this investigation review are,” Oyedele said.
According to him, some individuals are deliberately stirring public fear by mobilising unsuspecting Nigerians against reforms designed to benefit the wider population.
He warned that suspending the reforms would only entrench existing problems in the tax system.
“What is the cost of suspending it or not going ahead with the reform? It will mean simply that we continue with the status quo, which is that 98% of workers remain overtaxed.”
Oyedele said small businesses would continue to lose exemptions and face multiple levies, while large firms would still contend with numerous nuisance taxes.
He added that minimum taxes would remain in place for low-income earners and unprofitable businesses, while hidden VAT would keep driving up the cost of essentials such as food, healthcare and education.
He further noted that wasteful and distortionary incentives currently harming the economy would persist if the reforms are halted.
“So we need to be clear about what we are asking for,” Oyedele said.
