The Federal Government has refuted reports claiming it has adopted or is considering fresh taxes on telecommunications services and petroleum products, describing the claims as inaccurate and misleading. The speculation followed the release of the International Monetary Fund (IMF) Article IV Consultation Report on Nigeria, which contained recommendations on the country's economic policies.
In a statement issued on Wednesday, the Ministry of Finance, through its Head of Information and Public Relations, Efe Ovuakporie, said the reports misrepresented the IMF’s recommendations and did not reflect the government’s policy direction.
“The IMF Article IV Consultation Report contains the Fund’s assessment of Nigeria’s economy as well as recommendations for consideration by the authorities. 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,” Ovuakporie stated.
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government also clarified that the Value Added Tax (VAT) waiver on petroleum products remains in force and has not been withdrawn.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 make provision for a fuel surcharge, its implementation would require a ministerial order and publication in the Official Gazette. The ministry stressed that no such process is currently being considered.
“The continued suspension of these charges has helped cushion the effect of global energy price fluctuations on households and businesses while keeping domestic fuel prices relatively stable,” the statement said.
The federal government further explained that the telecommunications excise duty introduced before 2023 has been repealed under the newly enacted tax laws and is no longer applicable.
“The government further clarified that the telecommunications excise duty introduced before 2023 has been repealed under the new tax laws and is therefore no longer applicable.
“Against this backdrop, reports claiming that new taxes are being planned for telecommunications services or petroleum products are not factual and should be disregarded,” it added.
Reaffirming its commitment to economic reforms, the government said its focus remains on policies that stimulate growth, improve revenue administration, and enhance the investment climate.
It noted that efforts are being directed toward expanding economic activity, blocking revenue leakages, and improving operational efficiency rather than imposing additional tax burdens on citizens.
The government also assured Nigerians that any future tax measures would be communicated through official channels and implemented in accordance with existing laws.
