By Oluwakemi Kindness
The Federal Government has dismissed reports claiming it has introduced or is considering new taxes on telecommunications services and petroleum products, describing the claims as a misrepresentation of recommendations contained in the International Monetary Fund (IMF) Article IV Consultation Report on Nigeria.
In a statement issued on Tuesday, the Federal Ministry of Finance clarifies that the IMF report only contains the Fund’s assessment of Nigeria’s economy and recommendations for consideration, stressing that such recommendations do not constitute government policy and are not binding on the country.
The statement was signed by Efe Ovuakporie, Head of the Information in the ministry notes that decisions on tax policies are made through established constitutional and legislative processes and are guided by Nigeria’s economic priorities.
According to the government, the Value Added Tax (VAT) waiver on petroleum products remains in force and has not been withdrawn.
It added that while existing laws provide for a fuel surcharge, such a measure can only be implemented through a ministerial order and publication in the Official Gazette, a process that is not currently under consideration.
The government said the continued suspension of the charges has helped cushion the impact of global energy price fluctuations on households and businesses while supporting relative stability in domestic fuel prices.
It also clarified that the telecommunications excise duty introduced before 2023 has been repealed under the country’s new tax laws and is no longer applicable.
“Reports claiming that new taxes are being planned for telecommunications services or petroleum products are not factual and should be disregarded,” the statement said.
The Federal Government reaffirmed its commitment to economic reforms aimed at boosting growth, improving revenue administration, attracting investment and creating jobs, emphasizing that its focus remains on expanding economic activity, plugging leakages and improving efficiency rather than imposing additional tax burdens on citizens.
The statement added that any future tax measures would be communicated through official channels and implemented in accordance with the law.
