The Federal Government has dismissed reports claiming it plans to introduce 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 came after reports suggested that the IMF recommended extending Value Added Tax (VAT) to fuel products and imposing excise duties on telecommunications services as part of efforts to increase revenue, support development, and fund 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 the reports misinterpreted the IMF’s recommendations and do not reflect its current policy direction.
According to the statement, “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”.
The government emphasized that the VAT exemption on petroleum products remains in effect and has not been removed.
It also explained that while current legislation provides for a fuel surcharge, such a charge can only be implemented through a ministerial order and official publication in the government gazette.
“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The statement further clarified that the telecommunications excise duty introduced before 2023 has already been repealed under the new tax framework and is no longer in force.
Based on this, the government stressed that reports suggesting fresh taxes are being planned for telecom services or petroleum products “are not factual and should be disregarded”.
The Federal Government reiterated its commitment to policies that encourage economic growth, improve revenue collection, and create a more attractive 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.
“Any future tax measures will be announced through official channels and implemented in line with the law”, the statement added.
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