Nigeria Rules Out New Taxes on Fuel and Telecom Services Amid IMF Report Backlash
The Federal Government has firmly dismissed reports suggesting that new taxes could soon be introduced on fuel and telecommunications services in Nigeria, following reactions to the latest International Monetary Fund (International Monetary Fund) Article IV Consultation Report. Officials say the claims circulating in the media misrepresented the IMF’s recommendations and do not reflect government policy.
In a statement released by the Ministry of Finance, the government clarified that while the IMF provides economic assessments and suggestions, such recommendations are not binding on Nigeria (Nigeria) and cannot be treated as official tax policy. It stressed that any decision on taxation must pass through constitutional and legislative processes.
The clarification comes amid public concern after reports claimed the IMF had advised Nigeria to introduce new levies on fuel products and telecom services to boost revenue. However, the government insisted no such measures are being considered, adding that existing protections like the Value Added Tax waiver on petroleum products remain fully in place.
On telecommunications, authorities also noted that the previously introduced excise duty on the sector has already been repealed under new tax laws, making it no longer applicable. They further emphasized that there is currently no ministerial order or official process underway to introduce any new surcharge on fuel.
Reaffirming its position, the Federal Government said it remains focused on economic reforms that encourage growth, improve revenue collection efficiency, and attract investment—rather than imposing additional tax burdens on citizens. It urged Nigerians to rely only on verified official statements and disregard misleading reports on tax policy changes.
source: punch