ABUJA, Nigeria (VOICE OF NAIJA)-The Federal Government on Wednesday dismissed reports suggesting it had adopted or was considering the introduction of new taxes on telecommunications services and petroleum products following recommendations contained in the latest IMF Article IV Consultation Report on Nigeria.
It said the reports misrepresented the contents of the IMF report and did not reflect its policy direction, insisting that no new tax measures were being planned for either the telecoms or petroleum sectors.
In a statement signed by the Head of the Information and Public Relations Unit of the Federal Ministry of Finance, Efe Ovuakporie, the government stressed that the recommendations contained in the IMF report were not binding on Nigeria and should not be interpreted as official government policy.
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“The government has dismissed reports suggesting that it has adopted or is considering new taxes on telecommunications services and petroleum products following the publication of the International Monetary Fund Article IV Consultation Report on Nigeria,” the statement said.
The clarification followed recent recommendations by the IMF in its Article IV report, which suggested revenue-enhancing measures aimed at strengthening fiscal sustainability and boosting government income.
The Federal Government, however, maintained that taxation decisions are guided strictly by constitutional and legislative processes and national economic priorities.
According to the ministry, “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.”
It added, “Decisions on tax matters are taken through established constitutional and legislative processes and are guided by national priorities and prevailing economic realities.”
The ministry also clarified that the Value Added Tax waiver on petroleum products remains in force and has not been withdrawn.
It 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, adding that no such process is currently 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 the telecommunications sector, the government said the excise duty introduced before 2023 had already been repealed under the new tax laws and was therefore 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,” it said.
The ministry urged the public to disregard reports claiming that new taxes were being proposed on 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.
The government reaffirmed its commitment to reforms aimed at promoting economic growth, improving revenue administration and attracting investment rather than imposing additional tax burdens on citizens.
It also assured that any future tax measures would be communicated through official channels and implemented in line with existing laws.