FG Denies Plans for New Taxes on Telecoms, Fuel Products

The Federal Government has refuted reports claiming it is considering new taxes on telecommunications services and petroleum products following the International Monetary Fund’s (IMF) Article IV Consultation Report on Nigeria.

In a statement issued on Wednesday by Efe Ovuakporie, Head of the Information and Public Relations Unit at the Ministry of Finance, the government said the reports misinterpreted the IMF’s recommendations and wrongly presented them as official policy.

The statement clarified that IMF assessments and suggestions do not amount to government decisions, stressing that Nigeria’s tax policies are determined through constitutional and legislative processes in line with national economic priorities.

It further reaffirmed that the Value Added Tax (VAT) exemption on petroleum products remains in effect and has not been reversed. While existing laws provide for a possible fuel surcharge, the government noted that such a measure would require a formal ministerial order and publication in the Official Gazette, none of which is currently underway.

According to the Ministry, there is no consideration at this time to introduce any new fuel-related charges, adding that the suspension of such levies has helped reduce the impact of global energy price fluctuations on households and businesses.

The statement also dismissed claims of a telecommunications excise duty, explaining that the levy introduced before 2023 has already been repealed under new tax legislation and is therefore no longer valid.

The government emphasized that ongoing fiscal reforms are focused on strengthening economic growth, improving revenue collection efficiency, blocking leakages, and attracting investment, rather than imposing additional tax burdens on citizens.

It added that any future tax changes would be formally communicated through official channels and implemented strictly in accordance with the law.