The Federal Government has dismissed reports suggesting it has adopted or is considering new taxes on telecommunications services and petroleum products following the publication of the International Monetary Fund’s (IMF) Article IV Consultation Report on Nigeria.
The clarification comes amid media reports claiming that the IMF had recommended extending Value Added Tax (VAT) to fuel products and introducing excise duties on telecommunications services to boost revenue for development and social spending.
In a statement issued on Wednesday by Efe Ovuakporie, Head of the Information and Public Relations Unit at the Ministry of Finance, the government said the reports misrepresented the IMF’s recommendations and did not reflect its policy position.
“The IMF Article IV Consultation Report contains the Fund’s assessment of Nigeria’s economy and a set of recommendations for consideration by the authorities,” the statement said.
“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The government stressed that the VAT waiver on petroleum products remains in force and has not been withdrawn.
It also clarified that while existing legislation provides for a fuel surcharge, such a measure can only be implemented through a ministerial order and publication in the Official Gazette.
“No such process is currently under consideration,” the statement added.
According to the government, the continued suspension of the surcharge has helped cushion the impact of global energy price fluctuations on households and businesses while keeping domestic fuel prices relatively stable.
The statement further noted that the telecommunications excise duty introduced before 2023 has been repealed under the country’s new tax laws and is therefore no longer applicable.
Against this backdrop, the government said reports claiming that fresh taxes are being planned for telecommunications services or petroleum products are inaccurate and should be disregarded.
The Federal Government reiterated its commitment to reforms aimed at stimulating economic growth, strengthening revenue administration and creating a more competitive 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 said.
It added that any future tax measures would be communicated through official channels and implemented in accordance with the law.
