The Federal Government has denied plans to impose new taxes on telecommunications services or petroleum products, calling such claims a misrepresentation of recommendations in the International Monetary Fund (IMF) Article IV Consultation Report. Efe Ovuakporie, Head of Information and Public Relations in the Federal Ministry of Finance, dismissed the reports in a statement issued Wednesday. The government emphasized that IMF recommendations are advisory and do not determine national policy. Tax decisions, it said, are made through constitutional and legislative processes based on national priorities and economic conditions.
The government confirmed that the Value Added Tax (VAT) waiver on petroleum products remains in effect, with no ongoing process to activate a fuel surcharge. Any such surcharge, it noted, would require a ministerial order and publication in the Official Gazette before taking effect. The continued suspension, it added, has helped protect households and businesses from global energy price fluctuations, contributing to relative stability in domestic fuel prices. On telecommunications, the government stated that the excise duty in place before 2023 was repealed under new tax legislation and is no longer applicable. This contradicts recent reports suggesting a new levy on telecom services.
The federal government reiterated that future tax measures, if introduced, would be communicated through official channels and implemented in line with existing laws. It reaffirmed its commitment to reforms aimed at boosting economic growth, improving revenue administration, and attracting investment. The clarification follows growing public concern over potential tax increases amid ongoing economic challenges.
The Finance Ministry denies new taxes while acknowledging past levies were repealed and current waivers remain, creating confusion over why such clarifications are needed only now. If no new charges are planned and old ones are already scrapped, the public is left wondering what prompted the initial reports. The government's insistence on official channels for tax announcements rings hollow when citizens must rely on reactive statements to learn basic fiscal facts. This delay in proactive communication fuels unnecessary speculation during a period of economic strain.
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