The Presidential Fiscal Policy and Tax Reforms Committee has dismissed as false and misleading reports claiming that the Minister of State for Finance, Taiwo Oyedele, admitted errors in Nigeria’s newly introduced tax laws.

In a statement, the committee said the reports misrepresented Oyedele’s remarks, falsely alleging that he urged Nigerians to await the outcome of a legislative probe on the reforms. It clarified that the legislative process had long been concluded, with gazetted copies of the tax laws certified and published by the National Assembly since early January 2026.

The committee warned that such narratives could distort public understanding and undermine confidence in reforms designed to benefit Nigerians.

According to the statement, Oyedele, speaking at a fireside chat during the NBA Section on Legal Practice (SLP) conference in Lagos, highlighted the early positive impact of the new tax regime. He noted that thousands of informal businesses are now seeking registration with the Corporate Affairs Commission (CAC) daily, while the number of individuals captured in the tax system has risen from fewer than 10 million before the reforms to over 100 million nationwide.

The committee attributed these outcomes to what it described as the robust and progressive nature of the new tax laws. Key provisions include tax exemptions for small companies, increased relief thresholds for low-income earners, and exemptions on essential consumption items such as food, education, healthcare, transportation, and rent.

It also highlighted the introduction of a Tax Ombud mechanism aimed at protecting taxpayers’ rights and improving accountability within the system.

While noting that Oyedele acknowledged no law is entirely flawless, the committee explained that his comments were made in the context of continuous improvement, stressing the importance of stakeholder engagement to identify gaps and implement updates through periodic finance bills.

The committee urged the public to disregard sensational headlines and rely on official sources and credible media platforms for accurate information on tax reforms and other government policies.