The Federal Government has firmly rejected recent media reports and public speculation suggesting that new taxes on telecommunications services and petroleum products are being planned or have been adopted following the release of the International Monetary Fund’s (IMF) Article IV Consultation Report on Nigeria.

In a statement issued on Tuesday, the government described the claims as inaccurate and misleading, stressing that they do not reflect its official position.

“The Federal Government is not considering the introduction of any new taxes on telecommunications services or petroleum products,” the statement read.

The government clarified that the IMF report contains only the Fund’s assessments and policy recommendations, which are not binding on Nigeria. Policy decisions, it emphasised, are made through Nigeria’s constitutional, legislative, and institutional processes, guided by national priorities and economic realities.

On petroleum products, the statement confirmed that the current Value Added Tax (VAT) waiver on fuel remains fully in effect and has not been withdrawn. It added that implementing the fuel surcharge provided for in existing law would require a specific ministerial order and publication in the Official Gazette — steps that are not being contemplated at this time.

The suspended taxes, according to the government, have helped keep domestic fuel prices below international averages and those in neighbouring countries, providing relief to Nigerian households and businesses amid global energy market volatility.

Regarding telecommunications, the government noted that the excise duty introduced before 2023 has already been repealed under the new tax laws and is no longer applicable.

The public, media organisations, businesses, and other stakeholders have been advised to disregard any reports claiming the government intends to introduce these new taxes.

The statement reaffirmed the government’s commitment to a transparent, growth-oriented tax policy framework focused on improving revenue administration, expanding economic activity, eliminating inefficiencies, and fostering a competitive environment for investment and job creation.

“Any future tax policy changes, where necessary, will be communicated through official channels and implemented strictly in accordance with the law and due process,” it added.

The statement was signed by Maryann Duke, Senior Special Assistant on Communications & Press Secretary to the Honourable Minister of Finance and Coordinating Minister of the Economy.