The Federal Government has dismissed reports claiming it has approved or is considering the introduction of new taxes on telecommunications services and petroleum products following recommendations contained in the International Monetary Fund’s (IMF) latest Article IV Consultation Report on Nigeria.
The government described the reports as misleading, stressing that the IMF’s recommendations do not constitute official government policy and are not binding on Nigeria.
In a statement issued on Wednesday by the Head of the Information and Public Relations Unit of the Federal Ministry of Finance, Efe Ovuakporie, the government said no fresh taxes were being planned for either the telecommunications or petroleum sectors.
According to the statement, the IMF’s Article IV Consultation Report only reflects the Fund’s assessment of Nigeria’s economy and offers recommendations for consideration by the government.
“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,” the ministry stated.
The clarification follows widespread reports that the IMF had advised Nigeria to introduce taxes on fuel products and telecommunications services as part of measures to boost government revenue, strengthen fiscal sustainability and create more fiscal space for development spending and social interventions.
However, the Federal Government maintained that any decision on taxation would only be taken through constitutional and legislative processes and in line with national priorities and prevailing economic realities.
“Decisions on tax matters are taken through established constitutional and legislative processes and are guided by national priorities and prevailing economic realities,” the statement added.
The ministry also clarified that the Value Added Tax (VAT) waiver on petroleum products remains in force and has not been withdrawn.
It explained that although existing legislation provides for a fuel surcharge, such a levy can only become effective through a ministerial order and publication in the Official Gazette, adding that no such process is currently being considered.
“It also noted that although existing legislation provides for a fuel surcharge, such a measure can only take effect through a ministerial order and publication in the Official Gazette. No such process is under consideration,” the ministry said.
According to the government, the continued suspension of such charges has helped cushion the impact of global energy price fluctuations on households and businesses while contributing to relative stability in domestic fuel prices.
On the telecommunications sector, the government noted that the excise duty introduced before 2023 had already been repealed under the country’s new 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,” the statement added.
The ministry urged Nigerians to disregard reports suggesting that fresh taxes were being proposed for telecommunications services or petroleum products.
“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 stated.
Reaffirming its economic agenda, the Federal Government said its focus remains on implementing reforms that stimulate growth, strengthen revenue administration and attract investment, rather than increasing the tax burden on citizens.
“The Federal Government remains focused on reforms that promote economic growth, improve revenue administration and create 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.
The government also assured Nigerians that any future tax measures would be announced through official channels and implemented in accordance with the law.
