The federal government has stated that it had no intention or considering imposing new taxes on telecommunications services and petroleum products on Nigerians.
The government clarified various reports that claimed new taxes were being initiated for telecommunications services or petroleum products. This it said “are not factual and should be disregarded.”
This follows the International Monetary Fund (IMF) Article IV Consultation Report on Nigeria.
However, a statement on Wednesday by the Head of the Information and Public Relations Unit, Ministry of Finance, Efe Ovuakporie, clarified that the IMF recommendations “are not binding on Nigeria”.
Ovuakporie added that those projecting the content of the IMF report as a fresh tax regime by the federal government of Nigeria “are misrepresenting the report”.
The statement added that the content of the IMF report did not reflect the government’s policy direction.
“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 read.
The government clarified that the Value Added Tax (VAT) waiver on petroleum products remained in place and had not been withdrawn.
It also noted that although existing legislation provided for a fuel surcharge, such a measure could only take effect through a ministerial order and publication in the Official 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,” it added.
The government further clarified that the telecommunications excise duty introduced before 2023 had been repealed under the new tax laws and is therefore no longer applicable.
It added that the government remained focused on reforms that promote economic growth, improve revenue administration, and created a more competitive environment for investment and job creation, adding that any future tax measures would be communicated to Nigerians through official government channels.
