IMF tax claims were dismissed by the Federal Government, which says no new taxes are planned for fuel or telecommunications services

The Federal Government on Wednesday dismissed reports suggesting it had adopted or was considering new taxes on telecommunications services and petroleum products following recommendations contained in the latest International Monetary Fund Article IV Consultation Report on Nigeria.

Also read: IMF projects Nigeria as Africa’s third-largest economy in 2026

The clarification was issued by the Federal Ministry of Finance in a statement signed by the Head of its Information and Public Relations Unit, Efe Ovuakporie, who said reports linking the government to proposed taxes on fuel and telecom services misrepresented the IMF report and did not reflect official policy.

According to the ministry, recommendations contained in the IMF report are advisory and should not be interpreted as binding directives on Nigeria.

“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,” the statement said.

The government’s response follows public debate sparked by reports that the IMF had recommended taxes on petroleum products and telecommunications services as part of broader measures to boost revenue generation, improve fiscal sustainability and create additional funding for development and social intervention programmes.

Addressing the IMF Tax Claims, the ministry stressed that decisions on taxation are made through established constitutional and legislative processes and must align with national priorities and prevailing economic realities.

“Decisions on tax matters are taken through established constitutional and legislative processes and are guided by national priorities and prevailing economic realities,” the statement added.

The government also clarified that the Value Added Tax waiver on petroleum products remains in force and has not been withdrawn.

While existing legislation provides for a fuel surcharge, the ministry noted that any such measure can only take effect through a ministerial order and publication in the Official Gazette.

“No such process is under consideration,” the statement said.

Officials argued that the continued suspension of related charges has helped cushion households and businesses against fluctuations in global energy prices while supporting relative stability in domestic fuel costs.

On telecommunications services, the government stated that the excise duty introduced before 2023 had already been repealed under newly enacted tax laws and is no longer applicable.

The ministry consequently urged Nigerians to disregard reports suggesting that fresh taxes were being planned for either sector.

In a significant reassurance to businesses and consumers, the government reiterated its commitment to reforms aimed at stimulating economic growth, improving revenue administration and attracting investment rather than imposing additional tax burdens.

“The emphasis remains on expanding economic activity, plugging leakages and improving efficiency rather than placing additional tax burdens on citizens,” the statement said.

The government further assured Nigerians that any future tax measures would be announced through official channels and implemented in accordance with the law.

Also read: IMF warns Nigeria growth outlook faces political risks

The latest clarification is expected to ease concerns surrounding the IMF Tax Claims and provide greater certainty for investors, businesses and consumers monitoring Nigeria’s fiscal policy direction.