FG Rules Out New Taxes on Fuel, Telecom

The clarification follows public reactions to the latest Article IV Consultation Report released by the International Monetary Fund (IMF), which contained several recommendations aimed at improving Nigeria’s revenue generation.

According to the government, some reports have wrongly interpreted the IMF’s proposals as policies already adopted by the administration, stressing that no decision has been made to impose additional taxes on either sector.

Speaking through a statement signed by the Head of the Information and Public Relations Unit of the Federal Ministry of Finance, Efe Ovuakporie, the government explained that the IMF’s recommendations are merely advisory and do not automatically become government policy.

“The 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 Article IV Consultation Report on Nigeria,” the statement said.

It further maintained that claims linking the IMF report to imminent tax increases on telecom operators or petroleum products are inaccurate and do not represent the current policy direction of the Federal Government.

The clarification comes shortly after the IMF, in its latest Article IV report on Nigeria, proposed several revenue-enhancing measures intended to strengthen public finances and support long-term fiscal sustainability.