- The Federal Government has formally debunked widespread reports suggesting it plans to impose fresh levies on telecommunications services and petroleum products.
- Officials clarified that fiscal policy advice contained in the latest IMF Article IV Consultation Report is strictly advisory and has not been adopted as national policy.
- The temporary Value Added Tax (VAT) waivers on fuel products remain fully active to shield Nigerian households and businesses from international energy market shocks.
The Federal Government of Nigeria has firmly dispelled public anxieties by categorically denying recent reports that it is planning to implement new taxes on telecommunications services and petroleum products.
The official clarification follows intense public speculation and media commentary triggered by the publication of the International Monetary Fund’s latest Article IV Consultation Report for Nigeria.
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Government representatives stated that the media narratives completely misinterpreted the nature of the document, emphasizing that foreign fiscal policy recommendations do not equate to actual domestic executive actions.
In a formal statement released by Efe Ovuakporie, the Head of the Information and Public Relations Unit for the Federal Ministry of Finance, the administration made it clear that the multilateral lender’s suggestions are entirely non-binding.
The ministry explained that while the IMF frequently conducts economic assessments and proposes revenue-enhancing strategies for member nations, the sovereign authority to determine national tax structures rests solely with the Nigerian state.
Decisions regarding fiscal adjustments are guided strictly by internal economic realities, legislative processes, and national developmental priorities rather than external pressure.
Addressing specific anxieties regarding the energy sector, the Ministry of Finance reassured citizens that the current Value Added Tax waiver on petroleum products remains fully operational and has not been altered.
While certain existing legislative frameworks technically provide for a fuel surcharge, the government clarified that such a mechanism cannot take effect without an explicit ministerial directive published formally in the Official Gazette.
At present, no such executive process is under review, as the administration remains committed to keeping the waiver active to protect vulnerable households and small businesses from volatile fluctuations in the global energy market.
Furthermore, the government addressed the telecommunications sector by reminding the public that the previously controversial telecom excise duty, which was introduced prior to 2023, has been completely repealed under the country’s newly overhauled tax laws.
Consequently, any reports claiming that a fresh telecom levy is on the horizon are factually incorrect and should be completely disregarded by consumers.
The Ministry of Finance stressed that the administration’s current economic focus is centered on expanding existing industrial productivity, plugging systemic revenue leakages, and modernizing collection efficiency rather than introducing heavy tax burdens that could stifle commercial investment and compound the living expenses of regular citizens.
