The Federal Government has dismissed reports suggesting that it is considering 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 amid media interpretations that the IMF recommended the extension of Value Added Tax (VAT) to fuel products and the introduction of excise duties on telecommunications services as part of measures to boost government revenue and support 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 such reports misrepresented the IMF findings and do not reflect official policy direction.
According to the statement, the IMF Article IV Consultation Report only provides an assessment of Nigeria’s economic situation and offers recommendations for consideration by authorities, which are neither binding nor automatically implemented.
“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 statement said.
The Federal Government also clarified that the Value Added Tax (VAT) waiver on petroleum products remains in place and has not been removed.
It further explained that although existing legislation provides for a fuel surcharge, such a measure can only be activated through a formal ministerial order and publication in the Official Gazette, adding that no such process is currently being considered.
“No such process is under consideration. 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 added.
On telecommunications taxation, the government noted that the excise duty introduced before 2023 has been repealed under the new tax laws and is therefore no longer in effect.
Against this backdrop, the Federal Government described reports suggesting imminent new taxes on telecom services or petroleum products as inaccurate and urged the public to disregard them.
It reaffirmed its commitment to focusing on reforms aimed at strengthening economic growth, improving revenue administration, and enhancing the investment climate rather than imposing additional tax burdens on citizens.
“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 that any future tax measures would only be introduced through official channels and in accordance with due legal and legislative processes.
