The Federal Government has denied reports claiming it is planning to introduce new taxes on telecommunications services and petroleum products following recommendations contained in the International Monetary Fund (IMF) Article IV Consultation Report on Nigeria.
In a statement issued on Wednesday by the Federal Ministry of Finance, the government said the reports misrepresented the IMF findings and should not be interpreted as official policy.
The ministry stressed that recommendations made by the IMF are advisory in nature and do not amount to binding directives on Nigeria or its economic decisions.
It clarified that no new tax measures are being considered for either the telecommunications or petroleum sectors, adding that all taxation decisions must follow constitutional and legislative procedures.
According to the statement, policy decisions on taxation are guided strictly by national priorities and current economic conditions, not external recommendations.
The government also addressed concerns over petroleum pricing, stating that the existing Value Added Tax waiver on fuel products remains in place and has not been removed.
It explained that although legislation provides for a fuel surcharge, such a measure can only take effect through an official ministerial order and publication in the government gazette, none of which is currently being considered.
On the telecommunications sector, the ministry noted that an earlier excise duty introduced before 2023 has already been repealed under new tax legislation and is no longer in force.
The Federal Government added that retaining current waivers has helped cushion the impact of global energy price fluctuations on households and businesses while maintaining relative price stability.
It further urged the public to disregard reports suggesting the introduction of fresh taxes, reiterating that such claims are inaccurate.
The government reaffirmed its focus on economic reforms aimed at boosting growth, improving revenue collection efficiency, reducing leakages and attracting investment, rather than imposing additional tax burdens on citizens.
It assured Nigerians that any future tax changes would be communicated through official channels and implemented strictly in accordance with the law.
