The Federal Government has dismissed reports suggesting it plans to introduce new taxes on telecommunications services and petroleum products, following the release of the International Monetary Fund (IMF) Article IV Consultation Report on Nigeria.
The clarification comes after media reports claimed the IMF had recommended extending Value Added Tax (VAT) to fuel products and imposing excise duties on telecommunications services as part of efforts to boost government revenue and fund development programmes.
In a statement issued by the Ministry of Finance said the reports misrepresented the IMF’s recommendations and did not reflect government policy.
“The IMF Article IV Consultation Report contains the Fund’s assessment of Nigeria’s economy as well as recommendations for consideration by the authorities,” the statement said.
It added: “Those recommendations do not amount to government policy and are not binding on Nigeria. Decisions on tax matters are taken through established constitutional and legislative processes and are guided by national priorities and prevailing economic realities.”
The ministry, through its Head of Information and Public Relations Unit, Efe Ovuakporie, stressed that the VAT waiver on petroleum products remains in force and has not been withdrawn.
Officials also clarified that although existing laws provide for a fuel surcharge, such a charge can only be implemented through a ministerial order and publication in the Official Gazette.
“No such process is under consideration,” the statement said.
According to the government, maintaining the suspension of these charges has helped shield households and businesses from the impact of global energy price volatility while keeping domestic fuel prices relatively stable.
The ministry further stated that the telecommunications excise duty introduced before 2023 has since been repealed under new tax laws and is no longer applicable.
“As a result, reports suggesting that new taxes are being planned for telecommunications services or petroleum products are not factual and should be disregarded,” it said.
The government reiterated its commitment to economic reforms aimed at stimulating growth, improving revenue collection and creating a more attractive environment for investment and job creation.
“The emphasis remains on expanding economic activity, plugging leakages and improving efficiency rather than placing additional tax burdens on citizens,” the statement added.
It noted that any future tax measures would be announced through official channels and implemented in accordance with the law.
