The Federal Government has refuted 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.
In a statement issued by the Head of Information and Public Relations Unit at the Ministry of Finance, Efe Ovuakporie, the government described the reports as a misrepresentation of the IMF’s recommendations and not reflective of its policy direction.
The statement explained that the IMF report contains the Fund’s assessment of Nigeria’s economy and recommendations for consideration, stressing that such recommendations do not constitute government policy and are not binding on the country. It added that decisions on taxation are made through constitutional and legislative processes, taking into account national priorities and prevailing economic conditions.
The government also clarified that the Value Added Tax (VAT) waiver on petroleum products remains in force and has not been withdrawn.
According to the statement, while existing laws provide for a fuel surcharge, it can only be implemented through a ministerial order and publication in the Official Gazette. It emphasized that no such process is currently being considered, noting that the continued suspension of the charge has helped shield households and businesses from the impact of global energy price fluctuations while maintaining relative stability in domestic fuel prices.
The Federal Government further stated that the telecommunications excise duty introduced before 2023 has been repealed under the new tax laws and is no longer applicable.
It therefore urged the public to disregard claims that new taxes are being planned for telecommunications services or petroleum products, describing such reports as inaccurate.
The statement assured Nigerians that any future tax measures would be officially announced and implemented in accordance with the law.
