The Federal Government has moved to calm public concerns by ruling out any immediate plans to introduce new taxes on telecommunications services and petroleum products, following reactions to the International Monetary Fund (IMF) Article IV Consultation Report on Nigeria. The report had suggested possible revenue-boosting measures, sparking widespread debate across economic and consumer circles.
According to clarification issued by the Minister of Finance’s office through its spokesperson, the IMF recommendations are purely advisory and do not represent approved or pending government policy. Officials stressed that Nigeria’s tax decisions are made through established legal, constitutional, and institutional processes, not external directives or assumptions drawn from global reports.
The IMF had proposed options such as extending Value Added Tax (VAT) to fuel products and introducing excise duties on telecom services as part of broader fiscal reform suggestions. However, the Federal Government firmly stated that no such measures are being considered, and the existing VAT waiver on fuel remains fully in place.
Government officials further explained that while Nigeria continues to explore ways to improve revenue generation and strengthen the economy, the focus remains on expanding productivity, reducing inefficiencies, and supporting investment rather than increasing the tax burden on citizens already facing economic pressures.
Reassuring the public, the government also noted that any future tax policy changes would be formally announced through official channels and implemented only when legally approved. It urged citizens, businesses, and media platforms to disregard reports suggesting imminent tax hikes on fuel or telecommunications services, describing them as inaccurate and misleading.
source: nairametrics