FG dismisses report on new telecom and fuel taxes

The federal government has rejected a report that claimed it was considering new taxes on telecommunications services and petroleum products.

The statement was issued by Efe Ovuakporie, Head of Information and Public Relations at the Federal Ministry of Finance, in Abuja on Monday.

The government said the report misrepresented recommendations contained in the International Monetary Fund (IMF) Article IV Consultation Report on Nigeria.

It clarified that IMF recommendations are advisory and do not create binding obligations for Nigeria.

“Tax decisions in Nigeria are made through constitutional and legislative processes, guided by national priorities and economic realities,” the statement read.

The federal government confirmed that the Value Added Tax (VAT) waiver on petroleum products remains in force and has not been withdrawn.

“No process is underway to activate any fuel surcharge provided for under existing legislation. Any such surcharge will require a ministerial order and publication in the Official Gazette before implementation,” the statement added.

“The suspension of such charges has helped shield households and businesses from global energy price shocks,” the government said.

Domestic fuel prices have remained relatively stable because of the continued waiver and suspension measures.

The government also noted that the telecommunications excise duty introduced before 2023 had been repealed under new tax laws, and is no longer applicable, contrary to claims in some reports.

It reaffirmed its commitment to reforms that support economic growth, improve revenue administration and attract investment.

Future tax measures, if any, will be announced through official channels and implemented in accordance with the law. (NAN)

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