BY AMARACHI JIM-NWOKO
Abuja, (PRECISE POST) – The Federal Government has firmly rejected reports that it plans to impose fresh taxes on telecommunications services and petroleum products, calling the claims a misrepresentation of the International Monetary Fund’s latest Article IV Consultation Report on Nigeria.
In a statement on Wednesday, Efe Ovuakporie, Head of Information and Public Relations at the Ministry of Finance, said the IMF’s recommendations “do not amount to government policy and are not binding on Nigeria.” She stressed that tax decisions follow constitutional and legislative processes, guided by national priorities and current economic conditions.
The government confirmed that the Value Added Tax waiver on petroleum products remains in force and has not been withdrawn.
Addressing concerns over fuel surcharges, Ovuakporie explained that while existing law allows for such a levy, it can only take effect through a ministerial order published in the Official Gazette. “No such process is under consideration,” she said, adding that the continued suspension of these charges has helped shield households and businesses from global energy price swings and kept domestic fuel prices stable.
On telecommunications, the ministry clarified that the excise duty introduced before 2023 has been repealed under Nigeria’s new tax laws and is no longer applicable.
“Reports claiming new taxes are being planned for telecoms or petroleum products are not factual and should be disregarded,” the statement read.
The Federal Government said its focus remains on reforms that drive economic growth, strengthen revenue administration, and foster a competitive climate for investment and job creation.
Rather than introducing additional tax burdens, the government said it is prioritizing expanding economic activity, blocking revenue leakages, and improving efficiency. Any future tax measures, it added, will be communicated through official channels and implemented in accordance with the law.
