Government says IMF recommendations are not binding, insists no new taxes are being planned on telecommunications services or petroleum products.
The Federal Government has dismissed reports claiming it plans to introduce new taxes on telecommunications services and petroleum products, describing the reports as inaccurate and misleading.
In a statement issued by the Ministry of Finance on Wednesday, the government clarified that recommendations contained in the International Monetary Fund (IMF) Article IV Consultation Report do not constitute official policy and are not binding on Nigeria.
The government stressed that the Value Added Tax (VAT) waiver on petroleum products remains in place and has not been withdrawn. It also noted that no process is underway to activate any fuel surcharge under existing legislation.
According to the statement, the telecommunications excise duty introduced before 2023 has already been repealed under the country’s new tax laws and is no longer applicable.
The government said reports suggesting new taxes on telecom services or fuel products should be disregarded, reaffirming its commitment to policies that support economic growth, improve revenue administration, and encourage investment without imposing additional burdens on citizens.
It added that any future tax measures would be communicated through official channels and implemented in accordance with the law.