The Federal Government has dismissed reports suggesting it is planning fresh taxes on telecommunications services and petroleum products following the International Monetary Fund’s (IMF) Article IV Consultation Report on Nigeria.
In a statement issued by the Head of the Information and Public Relations Unit at the Ministry of Finance, Efe Ovuakporie, the government said the reports misrepresented the IMF’s findings and do not reflect its current 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,” the statement said.
It stressed that all tax decisions are made through established constitutional and legislative processes, guided by 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 removed.
It further noted that while existing laws provide for a fuel surcharge, such a measure can only be activated through a ministerial order and publication in the Official Gazette—neither of which has been initiated.
“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On telecommunications, the ministry explained that the excise duty introduced before 2023 has already been repealed under new tax legislation and is no longer in effect.
It urged the public to disregard reports suggesting new taxes on telecoms or petroleum products, describing them as not factual.
“Any future tax measures will be announced through official channels and implemented in line with the law,” the statement concluded.
