The Federal Government has denied media reports suggesting it is considering new taxes on telecommunications services and petroleum products following the release of the International Monetary Fund’s (IMF) Article IV Consultation Report on Nigeria.
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In a statement issued by Efe Ovuakporie, Head of the Information and Public Relations Unit at the Ministry of Finance, the government said the reports misrepresented the IMF report’s content and do not reflect Nigeria’s policy direction.
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“The IMF Article IV Consultation Report contains the Fund’s assessment of Nigeria’s economy along with recommendations for the authorities’ consideration,” the statement said. “Those recommendations do not constitute government policy and are not binding on Nigeria. Tax decisions are made through established constitutional and legislative processes, guided by national priorities and prevailing economic realities.”
The IMF’s 2026 report had recommended extending Value Added Tax (VAT) to fuel products, introducing excise duties on telecom services, and increasing VAT rates to boost revenue. However, the report also cautioned that the timing of such reforms must consider Nigeria’s poverty and food insecurity levels and ensure cash transfer systems are funded.
The statement clarified that the Value Added Tax (VAT) waiver on petroleum products remains in place and has not been withdrawn.
It also noted 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. 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The government further clarified that the telecommunications excise duty introduced before 2023 has been repealed under the new tax laws and is therefore no longer applicable. It said that reports claiming that new taxes are being planned for telecommunications services or petroleum products “are not factual and should be disregarded”.
“Any future tax measures will be announced through official channels and implemented in line with the law”, the statement added.
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