The Federal Government of Nigeria has dismissed reports suggesting it plans to introduce new taxes on telecommunications services and petroleum products following recommendations contained in the International Monetary Fund's (IMF) latest Article IV Consultation Report on Nigeria.
In a statement issued in Abuja, the Ministry of Finance described the reports as inaccurate and said they do not reflect government policy.
According to the statement, the IMF report contains policy recommendations for consideration by member countries and does not constitute binding decisions on the Nigerian government.
The government stressed that it is not considering any new taxes on telecommunications services or petroleum products, adding that any future tax measures would follow established constitutional, legislative and institutional processes.
The statement further clarified that the Value Added Tax (VAT) waiver currently applicable to fuel remains in place and has not been withdrawn.
It also noted that any fuel surcharge provided for under existing laws would require a specific ministerial order and publication in the Official Gazette before implementation, stressing that no such action is being contemplated.
The Federal Government said the suspension of certain taxes has helped keep domestic fuel prices below international levels and those of neighbouring countries, cushioning the effects of global energy market disruptions on households and businesses.
On telecommunications, the government stated that the excise duty introduced before 2023 has been repealed under the new tax laws and is no longer applicable.
The statement urged the public, media organisations and businesses to disregard reports claiming that new taxes on telecom services or petroleum products are being planned.
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