The Federal Government has strongly refuted reports claiming it intends to introduce new taxes on petroleum products and telecommunications services, describing the claims as misleading and not reflective of its current policy direction.
In a statement issued on Wednesday by the Federal Ministry of Finance, the government clarified that recommendations contained in the recent International Monetary Fund (IMF) Article IV Consultation Report do not constitute official policy and are not binding on Nigeria.
No Policy Shift on Key Sectors
The ministry emphasised that the Value Added Tax (VAT) waiver on petroleum products remains fully in force. While existing legislation provides for a possible fuel surcharge, no such measure is being considered, as it would require a formal ministerial order and publication in the Official Gazette.
On telecommunications, the government confirmed that the excise duty previously imposed on the sector before 2023 has been repealed under the new tax laws and is no longer applicable.
“Decisions on tax matters are taken through established constitutional and legislative processes and are guided by national priorities and prevailing economic realities,” the statement read.
Focus on Growth-Oriented Reforms
The Federal Government reiterated its commitment to implementing reforms that promote economic expansion, improve revenue administration, plug leakages, and create a more competitive environment for investment and job creation.
“The emphasis remains on expanding economic activity, plugging leakages and improving efficiency rather than placing additional tax burdens on citizens,” the ministry added.
It assured the public that any future tax-related policies would be properly communicated through official channels and implemented strictly in accordance with the law.
The clarification comes amid public anxiety over potential increases in the cost of essential services like fuel and telecoms, which directly impact households and businesses. The government’s firm stance aims to reassure citizens and investors that no immediate new taxes are planned in these critical sectors.
