By Ajibola Olaide, JKNewsMedia Reporter
FEDERAL GOVERNMENT has dismissed reports suggesting it has adopted or is considering new taxes on telecommunications services and petroleum products following the release of the International Monetary Fund (IMF) Article IV Consultation Report on Nigeria.
JKNewsMedia.com reports that the clarification followed reports that the IMF had said Nigeria may need to extend Value Added Tax (VAT) to fuel products and introduce excise duties on telecommunications services to raise revenue for development and social spending.
Head, Information and Public Relations Unit at the Ministry of Finance, Efe Ovuakporie, said in a statement on Wednesday that the reports misrepresented the IMF document and did not reflect government policy direction.
“The IMF Article IV Consultation Report contains the Fund’s assessment of Nigeria’s economy as well as recommendations for consideration by the authorities,” the statement said.
It added that such recommendations do not constitute government policy and are not binding on Nigeria, noting that tax decisions are taken through established constitutional and legislative processes.
The government clarified that the Value Added Tax waiver on petroleum products remains in place and has not been withdrawn.
It also stated that while existing legislation provides for a fuel surcharge, any implementation would require a ministerial order and publication in the Official Gazette, adding that no such process is under consideration.
“The continued suspension of these charges has helped cushion the effect of global energy price fluctuations on households and businesses while keeping domestic fuel prices relatively stable,” the statement said.
JKNewsMedia.com reports that in telecommunications, the government noted that the excise duty introduced before 2023 has been repealed under the new tax laws and is no longer applicable.
It further described reports suggesting new taxes on telecommunications services or petroleum products as “not factual and should be disregarded”.
The statement said government remains focused on reforms aimed at strengthening economic growth, improving revenue administration, and creating a more competitive environment for investment and job creation.
It added that emphasis remains on expanding economic activity, plugging leakages, and improving efficiency rather than imposing additional tax burdens on citizens, noting that any future tax measures will be communicated through official channels and implemented in line with the law.
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