The federal government has denied plans to introduce new taxes on telecommunications or petroleum products after publication of the International Monetary Fund (IMF)’s Article IV Consultation report.
In a Wednesday statement, Efe Ovuakporie, Head of Information and Public Relations at the Ministry of Finance, said media accounts misrepresented the IMF’s recommendations and did not reflect government policy.
“The IMF Article IV Consultation Report contains the Fund’s assessment of Nigeria’s economy as well as recommendations for consideration by the authorities,” the statement said. “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 ministry reiterated that the Value Added Tax (VAT) waiver on petroleum products remains in place. It also noted that, while existing legislation allows for a fuel surcharge, such a measure would require a ministerial order and publication in the Official Gazette — steps that are not being considered.
“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,” the statement added.
On telecommunications, the ministry said the excise duty that applied before 2023 has been repealed under the current tax laws and is therefore no longer applicable.
The statement concluded that reports claiming the government plans to levy new taxes on telecoms services or petroleum products “are not factual and should be disregarded.” It said the Federal Government remains focused on reforms to promote growth, improve revenue administration and create a more competitive environment for investment and job creation, stressing that any future tax measures will be announced through official channels and implemented in line with the law.
