Economic

Oyedele Dismisses Viral Tax Papers as Fake, Pledges Reforms That Shield Small Businesses and Workers

Helen Okoro 1 day ago 3 min read

By : Chinasaokwu Helen Okoro

Amid rising public anxiety over proposed tax changes, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has firmly denied the authenticity of tax documents currently circulating on social media, describing them as “fake, misleading, and deliberately crafted to cause fear.” Speaking on Monday, Oyedele assured Nigerians that the ongoing tax reform agenda is designed to ease, not worsen, the burden on small businesses and workers.

In recent days, screenshots and documents purportedly detailing new tax rates and levies have gone viral, sparking outrage among traders, artisans, and salary earners who fear an increase in deductions at a time of economic strain. Some of the documents suggested sweeping hikes in consumption and personal income taxes, claims Oyedele categorically rejected.

“These documents did not originate from the committee or any official government channel,” Oyedele said. “They are fake. Nigerians should disregard them. Our work is guided by transparency, fairness, and the clear mandate to support economic growth while protecting the most vulnerable.

He explained that the reform process is still consultative and evidence-based, involving engagements with labour unions, business associations, state governments, and civil society. According to him, no final policy would be imposed without broad consensus and a clear understanding of its impact on ordinary Nigerians.

At the heart of the reforms, Oyedele said, is a deliberate effort to protect micro, small, and medium-sized enterprises (MSMEs), which employ a significant portion of the workforce and form the backbone of the Nigerian economy. He noted that many small businesses currently operate informally due to fear of multiple taxation and harassment, a situation the reforms aim to correct.

“Our objective is not to tax people into poverty,” he said. “It is to simplify the system, reduce the number of nuisance taxes, and create an environment where small businesses can thrive, formalize, and grow without being suffocated.

Oyedele emphasized that workers would also benefit from the reforms, particularly through measures intended to protect low-income earners. He disclosed that proposals under consideration include higher tax-free thresholds, fewer deductions for minimum-wage earners, and a more progressive tax structure that places a greater responsibility on those with higher incomes.

“For too long, the tax system has been unfair,” he said. “Those who earn the least feel the impact the most, while loopholes allow others to avoid paying their fair share. We are fixing that imbalance.

Addressing concerns about government revenue, Oyedele argued that improved efficiency, better compliance, and reduced leakages would generate more sustainable income for the state than simply raising tax rates. He stressed that digitalization and harmonization of taxes across federal, state, and local governments would play a critical role in achieving this goal.

Public reactions to his clarification have been mixed. While some business owners welcomed the reassurance, others urged the government to improve communication to prevent misinformation from spreading. Labour leaders also called for continued engagement, insisting that workers must be fully carried along before any reform is implemented.

Oyedele acknowledged these concerns and pledged more frequent updates. “We hear the fears. We understand the pain in the economy,” he said. “That is exactly why these reforms are being done carefully and responsibly.

As the debate continues, the government’s challenge remains restoring trust and ensuring that facts prevail over fear. For now, Oyedele’s message is clear: the viral tax documents are fake, and the real reforms, he insists, are aimed at building a fairer system that supports small businesses, protects workers, and lays the foundation for inclusive economic growth.