FG Dismisses Reports Of New Telecom, Fuel Taxes

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ABUJA – The Federal Government has dis­missed reports suggesting that it has adopted or is considering new taxes on telecommunications services and petroleum products following the publication of the In­ternational Monetary Fund (IMF) Article IV Consultation Report on Nigeria.

In a statement signed by Efe Ovuakporie, Head, Information and Public Relations Unit, Min­istry of Finance, and made avail­able to newsmen on Wednesday, the government said the reports misrepresent the content of the IMF report and do not reflect its 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. Those recommendations do not amount to government policy and are not binding on Nigeria. Decisions on tax matters are taken through established constitutional and legislative processes and are guided by national priorities and prevailing economic realities”, the statement noted.

The government clarified that the Value Added Tax (VAT) waiver on petroleum products remains in place and has not been withdrawn.

It also noted that although ex­isting legislation provides for a fuel surcharge, such a measure can only take effect through a ministe­rial order and publication in the of­ficial gazette. It noted 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”, it said.

The government further clari­fied that the telecommunications excise duty introduced before 2023 has been repealed under the new tax laws and is therefore no longer applicable.

Against this backdrop, it said reports claiming that new taxes are being planned for telecommu­nications services or petroleum products are not factual and should be disregarded.

“The Federal Government remains focused on reforms that promote economic growth, im­prove revenue administration and create a more competitive en­vironment for investment and job creation. The emphasis remains on expanding economic activity, plugging leakages and improving efficiency rather than placing ad­ditional tax burdens on citizens”, it noted.

The ministry assured that any future tax measures will be announced through official chan­nels and implemented in line with the law.