The Federal Government has dismissed reports claiming it is considering the introduction of 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 reports suggesting that the IMF recommended the extension of Value Added Tax (VAT) to petroleum products and the introduction of excise duties on telecommunications services as part of measures to increase government revenue and support development spending.
In a statement issued on Wednesday, the Ministry of Finance described such reports as misleading and inconsistent with the government’s current policy direction.
The statement, signed by the Head of Information and Public Relations Unit of the Ministry, Efe Ovuakporie, explained that the IMF report contains the Fund’s economic assessment and policy recommendations, which do not automatically translate into government decisions.
According to the ministry, IMF recommendations are advisory in nature and remain non-binding on the Nigerian 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. 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 government specifically clarified that the existing VAT waiver on petroleum products remains in force and has not been withdrawn.
It noted that while certain legal provisions provide room for the introduction of fuel-related surcharges, such measures can only become effective through a formal ministerial order and publication in the Official Gazette.
The ministry stressed that no such process is currently underway.
“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.
The Federal Government also addressed concerns regarding telecommunications taxation, clarifying that the telecommunications excise duty introduced before 2023 has already been repealed under the country’s new tax framework.
As a result, the ministry said there are no plans to reintroduce the levy.
Against this backdrop, the government described reports alleging imminent taxes on telecommunications services and petroleum products as inaccurate.
“Reports claiming that new taxes are being planned for telecommunications services or petroleum products are not factual and should be disregarded,” the statement stated.
The ministry reiterated that the administration remains committed to economic reforms designed to encourage growth, strengthen revenue collection systems, and improve the business environment without placing additional burdens on citizens.
According to the government, the focus remains on expanding economic activity, improving tax administration, closing revenue leakages, and enhancing efficiency rather than increasing taxes on consumers.
“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 concluded.
The clarification is expected to reassure businesses, consumers, and investors who had expressed concerns that additional taxes on fuel and telecommunications services could increase operating costs and further pressure household incomes.
The government maintained that any future tax reforms would follow due process and be communicated transparently through official channels.
