The Federal Government has dismissed reports claiming that it has introduced or is considering new taxes on telecommunications services and petroleum products following the release of the International Monetary Fund’s (IMF) Article IV Consultation Report on Nigeria.
In a statement issued by the Federal Ministry of Finance, the government said the reports misrepresented the contents of the IMF report and did not reflect its policy position.
According to the ministry, the IMF report contains the Fund’s assessment of Nigeria’s economy and recommendations for consideration by the authorities, but such recommendations do not constitute government policy and are not binding on the country.
The government stressed that decisions on taxation are made through established constitutional and legislative processes and are guided by national priorities and prevailing economic conditions.
It also clarified that the Value Added Tax (VAT) waiver on petroleum products remains in force and has not been withdrawn.
The ministry further explained that although existing laws provide for a fuel surcharge, its implementation would require a ministerial order and publication in the Official Gazette. It stated that no such process is currently being considered.
According to the government, the continued suspension of these charges has helped shield households and businesses from the impact of global energy price fluctuations while supporting relative stability in domestic fuel prices.
The statement also clarified that the telecommunications excise duty introduced before 2023 has been repealed under the country’s new tax laws and is no longer applicable.
The government, therefore, urged the public to disregard reports suggesting that new taxes are being planned for telecommunications services or petroleum products, describing such claims as inaccurate.
It reiterated its commitment to economic reforms aimed at promoting growth, improving revenue administration, and creating a more competitive environment for investment and job creation.
The government added that its focus remains on expanding economic activity, blocking revenue leakages, and improving efficiency rather than imposing additional tax burdens on citizens.
It assured Nigerians that any future tax measures would be announced through official channels and implemented in accordance with the law.
(The Whistler)