As rumours of a looming 10% VAT increase swirled, Dr. Taiwo Oyedele, the Chairman of the Presidential Committee on Tax Reforms, is doing his best to set the record straight.
In a statement that cuts through the noise, Oyedele revealed his committee’s true proposal was not about raising taxes.
He said the advice was about lifting the VAT burden off essential goods and services entirely.
His team aimed to bring relief to everyday Nigerians, not add to their struggles.
This included lifting VAT on house rents, food, and public transportation.
According to him, the Presidential Committee on Tax Reforms recommended removing VAT entirely, not increasing it by 10%.
Dr. Taiwo Oyedele addressed the issue in a statement on Tuesday.
He was reacting to reports that claimed his committee proposed a 10% VAT increase to the Federal Government.
In an interview on Monday with Naija News Oyedele said that the government planned to cut taxes for employers providing staff transport.
The government will give another tax cut to employers who hire more staff than they normally would.
Some reports, however, on Tuesday, misquoted Oyedele to have said there would be an increase in VAT to 10%.
‘Spin Just To Sell’
In his statement on Tuesday, posted on his X handle, he expressed regret.
According to him, the journalists wrote the reports contrary to what he had said in the interview reported by Naija News.
“The same interview, very different reportage and choices of headlines.
“Bad news sells faster, so some journalists will spin any news just to sell.
“Some of the quotes attributed to me in some of the reports are not my words.
“My committee’s proposal for VAT is to reduce the rate to zero percent (0%) for food, health, and education.
“We also propose exemptions for rent, transportation, and small businesses.”
“Our data shows that these are the areas where the average person spends almost all their income.
“This means we will reduce their VAT burden.”
“The upward rate adjustment is on other items to partly offset the reduction in rate and exemptions for basic consumption,” Oyedele clarified.
He believes that this reduction protects the masses.
