The Nigerian Government has dismissed reports suggesting that it has adopted or is considering new taxes on telecommunications services and petroleum products following the publication of the International Monetary Fund (IMF) Article IV Consultation Report on Nigeria.
The Government in a statement by the Ministry of Finance disclosed that the reports misrepresent the content of the IMF report and do not reflect its policy direction.
Efe Ovuakporie, Head Information and Public Relations Unit at the ministry explained that the IMF Article IV Consultation Report contains the Fund’s assessment of Nigeria’s economy as well as recommendations for consideration by the authorities. She further stated that the recommendations do not amount to government policy and are not binding on Nigeria, adding that decisions on tax matters are taken through established constitutional and legislative processes and are guided by national priorities and prevailing economic realities.
The Government clarified that the Value Added Tax (VAT) waiver on petroleum products remains in place and has not been withdrawn, noting that although existing legislation provides for a fuel surcharge, such a measure can only take effect through a ministerial order and publication in the Official Gazette. No such process is under consideration.
Ovuakporie said the continued suspension of the charges has helped cushion the effect of global energy price fluctuations on households and businesses while keeping domestic fuel prices relatively stable.
Further clarified by the government is the telecommunications excise duty introduced before 2023 which has been repealed under the new tax laws and is therefore no longer applicable.
Against this backdrop, reports claiming that new taxes are being planned for telecommunications services or petroleum products are not factual and should be disregarded.
The statement emphasised that the Federal Government remains focused on reforms that promote economic growth, improve revenue administration and create a more competitive environment for investment and job creation. While emphasis remains on expanding economic activity, plugging leakages and improving efficiency rather than placing additional tax burdens on citizens, the government insists that future tax measures will be announced through official channels and implemented in line with existing laws.
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