Nigeria Dismisses Plans for New Telecoms, Fuel Taxes

The Federal Government of Nigeria, through a statement released by the Federal Ministry of Finance, has dismissed reports that suggested the introduction of new taxes on telecommunications services and petroleum products. The government clarified that these claims misrepresent the content of the International Monetary Fund (IMF) Article IV consultation report.

It stated that while the IMF recommended considering certain measures, these do not equate to government policy and are not binding. The government emphasized that any tax matters must follow the constitutional legislative process.

Additionally, it confirmed that the existing value-added tax (VAT) waiver on petroleum products remains in place and that there are no plans to introduce new excise duties on telecommunications services. The government aims to promote economic growth, improve revenue administration, and create a competitive environment for investment and job creation, rather than imposing additional tax burdens on citizens.