Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, today clarified that his committee did not draft the version of the tax reform bill passed by the House of Representatives. He made this statement amid growing controversy over alleged discrepancies in the new tax laws set to take effect on January 1, 2026.
Oyedele spoke in a recent interview. He explained that his team spent over two and a half years drafting the original bills with input from more than 100 experts. "We were the team that drafted the bills, and while we were drafting the bills, we created this very rigorous process," Oyedele said.
However he noted that the committee's role shifted to explaining provisions after submission. The National Assembly then handled amendments, harmonization, and passage.
The chairman addressed claims of alterations between the passed bills and the gazetted version. He stressed that no official harmonized copy from the clerk exists for comparison yet. "We don’t have the copy of the official harmonized bills certified by the clerk," Oyedele added. He called circulating reports from a supposed House committee "fake," as the committee has not even met me.
Oyedele urged Nigerians to avoid speculation and focus on improving legislative processes. He referenced past issues with laws like the Petroleum Industry Act to highlight the need for tamper-proof systems. "This is not just about the tax reform laws. It’s about our processes," he stated.
On the reforms' impact, Oyedele dismissed misinformation about higher taxes for average earners. He said low-income workers and small businesses will pay less or nothing. "Only the top 2% of earners in Nigeria will pay more, and even that more is marginal," Oyedele explained. He encouraged people to use the tax calculator at fiscalreforms.ng for personal checks.
The new laws aim to harmonize taxes, reduce burdens on businesses, and exempt informal sectors like vulcanizers. Oyedele warned that delaying implementation would harm progress, including state-level reforms already passed in places like Ekiti and Anambra.
This clarification comes as public anxiety rises over the reforms. Oyedele called for unity to ensure fair taxation benefits all Nigerians.