Business News
IMF: FG denies plans to introduce fuel, telecom taxes
The Federal Government has dismissed reports suggesting it is planning to impose new taxes on fuel and telecommunications services, clarifying that no such measures are under consideration.
In a statement issued by the Federal Ministry of Finance, the government said recommendations contained in the International Monetary Fund (IMF) Article IV Consultation Report do not constitute official government policy and are not binding on Nigeria.
According to the ministry, decisions on taxation are made through constitutional and legislative processes and are guided by national priorities and prevailing economic realities.
The government stressed that the Value Added Tax (VAT) waiver on petroleum products remains in place and has not been withdrawn.
It also clarified that although existing laws provide for a fuel surcharge, such a charge can only take effect through a ministerial order and publication in the Official Gazette, adding that no such process is currently being considered.
“The continued suspension of these charges has helped cushion the impact of global energy price fluctuations on households and businesses while keeping domestic fuel prices relatively stable,” the statement said.
The ministry further noted that the telecommunications excise duty introduced before 2023 has already been repealed under the new tax laws and is no longer applicable.
It therefore urged Nigerians to disregard reports claiming that fresh taxes are being planned for petroleum products or telecommunications services.
The Federal Government reiterated its commitment to economic reforms aimed at boosting growth, improving revenue administration, plugging leakages and creating a more investment-friendly environment rather than increasing the tax burden on citizens.
It added that any future tax policy would be officially announced and implemented strictly in accordance with the law.
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