The Presidential Committee on Fiscal Policy and Tax Reforms has clarified that the newly enacted tax laws do not impose a 25 per cent levy on building materials or other essential commodities, dismissing widespread claims circulating in parts of the public space.

In a statement issued to address growing concerns, the committee explained that the reforms are aimed at streamlining Nigeria’s tax system, eliminating multiple taxation, and broadening the revenue base without placing undue burden on businesses and consumers. It stressed that no provision in the new laws mandates a blanket 25 per cent tax on construction materials or related goods.

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The committee further noted that misinformation surrounding the reforms has led to confusion among stakeholders, particularly in the construction and manufacturing sectors. It assured industry players that the reforms were designed to encourage investment, promote economic growth, and improve compliance through a more transparent framework.

Stakeholders have been urged to rely on official documents and verified government communications for accurate details on the tax reforms, as the administration continues consultations to ensure smooth implementation nationwide.