The federal government has dismissed reports that it plans to introduce new taxes on telecommunications services and petroleum products.
It dismissed the claim in a statement on Tuesday by Maryann Duke, Senior Special Assistant on Communications and Press Affairs to the Minister of Finance and Coordinating Minister of the Economy, describing it as inaccurate and inconsistent with its position.
It said recent media reports and public commentary had wrongly suggested that the country had adopted, or was planning to adopt, new taxes following the publication of the International Monetary Fund (IMF) Article IV Consultation Report on Nigeria.
“The claims are inaccurate and do not reflect the position of the government,” it stated, stressing that it is “not considering the introduction of any new taxes on telecommunications services or petroleum products.”
The finance ministry noted that the IMF Article IV Consultation Report contains the Fund’s assessments and policy recommendations for consideration by member countries but should not be interpreted as government policy.
“Such recommendations do not constitute decisions of the government of Nigeria, nor are they binding on the government,” it said.
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The ministry pointed out that government policies are introduced through established constitutional, legislative and institutional processes, taking into account national priorities and prevailing economic conditions.
Regarding petroleum products, the government said the value-added tax (VAT) waiver currently applicable to fuel remains in place and has not been withdrawn.
It also clarified that the fuel surcharge provided for in law can only take effect through a specific ministerial order and publication in the Official Gazette.
“No such action is being contemplated at this time,” it said.
The government added that the suspended taxes have helped keep domestic fuel prices below international averages and those of neighbouring countries, cushioning households and businesses from the effects of disruptions in global energy markets.
On telecommunications services, the government said the excise duty introduced before 2023 has been repealed under the new tax laws and is no longer applicable.
According to the ministry, the federal government advised the public, media organisations, businesses and other stakeholders to disregard reports suggesting that new taxes would be imposed on telecommunications services or petroleum products.
It reiterated its commitment to a tax policy framework that is “transparent, growth-orientated, and supportive of economic stability”.
It said the government’s focus remains on improving revenue administration, expanding economic activity, eliminating inefficiencies and creating a more competitive environment for investment and job creation, rather than increasing the tax burden on citizens.
It added that any future tax policy changes, where necessary, would be communicated through official channels and implemented in line with the law and due process.
Pinnacle Daily reported that stakeholders have criticised the IMF recommendations in its latest report on Nigeria.
The Alliance for Economic Research and Ethics had specifically called on the federal government to reject the IMF recommendation for new taxes on fuel, telecommunications services, and consumption, warning that such measures would worsen poverty, raise business costs, and deepen economic hardship for millions of Nigerians.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X