The Federal Government has denied reports claiming it plans to introduce new taxes on telecommunications services and petroleum products, describing the reports as false and misleading.In a statement issued by the Federal Ministry of Finance, officials clarified that media reports linking the alleged tax plans to the International Monetary Fund’s (IMF) Article IV Consultation on Nigeria do not reflect the government’s position.
According to the ministry, recommendations contained in the IMF report are advisory in nature and do not amount to policy directives or binding obligations for Nigeria. The government stressed that it is not considering the introduction of any new taxes on telecom services or petroleum products.
The ministry also clarified that existing tax arrangements on fuel remain unchanged, noting that the Value Added Tax (VAT) waiver on petroleum products is still in effect. It added that any fuel surcharge would require a ministerial order published in the Official Gazette, and no such move is currently under consideration.Officials said the current measures have helped shield households and businesses from the impact of fluctuations in global fuel prices.
On telecommunications, the government explained that the excise duty introduced before 2023 has already been repealed under the country’s new tax laws and is no longer in force. The ministry urged Nigerians, businesses and media organisations to disregard reports suggesting new taxes are being planned for telecoms and fuel.
It reiterated that Nigeria’s tax policy remains focused on improving revenue generation, supporting economic growth and attracting investment, rather than increasing the financial burden on citizens. The government added that any future tax changes would be announced through official channels and implemented in accordance with due process.
Source: https://www.premiumtimesng.com/
