Nigeria's FG Rejects New Taxes on Fuel and Telecom Services

The Federal Government of Nigeria, through a statement signed by the head of the Information Public Relations Unit of the Federal Ministry of Finance, Efowakpori, has dismissed reports indicating the consideration of new taxes on telecommunications services and petroleum products. This clarification follows recommendations in the latest International Monetary Fund (IMF) Article IV consultation report, which suggested revenue-enhancing measures to strengthen government revenue and improve fiscal sustainability.

The government asserted that these recommendations are not binding and do not reflect its official policies. It emphasized that taxation decisions are made through a constitutional legislative process, prioritizing national economic realities.

The government also reiterated that existing tax waivers on petroleum products remain in effect and that the excise duty on telecommunications introduced in 2023 has been abolished. The statement urged the public to disregard claims of new tax proposals, reaffirming the government's commitment to economic reforms aimed at stimulating growth and attracting investment without imposing additional tax burdens on citizens.