The Federal Government has dismissed reports suggesting it plans to introduce new taxes on petroleum products and telecommunications services, clarifying that recent recommendations by the International Monetary Fund (IMF) do not constitute government policy.
In a statement issued on Wednesday by the Head of the Information and Public Relations Unit of the Ministry of Finance, Efe Ovuakporie, the government said media reports had misrepresented the contents of the IMF Article IV Consultation Report and did not reflect its policy direction.
According to the statement, the IMF report contains the Fund’s assessment of Nigeria’s economy and recommendations for consideration by the authorities, but such recommendations are neither binding nor automatically adopted by the 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,” the statement said.
The government stressed that decisions on tax matters are made through constitutional and legislative processes and are guided by national priorities and prevailing economic realities.
It further clarified that the Value Added Tax (VAT) waiver on petroleum products remains in force and has not been withdrawn. The statement noted 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.
“No such process is under consideration,” the government stated, adding that the continued suspension of such charges has helped cushion the impact of global energy price fluctuations on households and businesses while maintaining relative stability in domestic fuel prices.
The Federal Government also addressed concerns over a possible telecommunications excise duty, explaining that the tax introduced before 2023 had been repealed under the country’s new tax laws and is no longer applicable.
Against this backdrop, the government described claims that it is planning fresh taxes on telecommunications services or petroleum products as inaccurate and urged the public to disregard them.
Reaffirming its commitment to economic reforms, the government said its focus remains on measures that stimulate growth, improve revenue administration, and create a more competitive environment for investment and job creation.
“The emphasis remains on expanding economic activity, plugging leakages and improving efficiency rather than placing additional tax burdens on citizens,” the statement said.
It added that any future tax measures would be communicated through official channels and implemented strictly in accordance with the law.
