FG rules out new taxes on telecom, fuel despite IMF recommendations

The Federal Government has dismissed reports that it plans to introduce new taxes on telecommunications services or petroleum products, following IMF recommendations to extend VAT to fuel and impose excise duties on telecom to boost revenue. Maryann Duke, Senior Special Assistant to the Minister of Finance, said the IMF’s Article IV Consultation Report contains only advisory suggestions and does not bind government policy. She emphasized that any tax changes must follow constitutional, legislative and institutional processes, and that no such action is currently under consideration.

The clarification also confirmed that the existing VAT waiver on fuel products remains in place and has not been withdrawn. Additionally, the telecommunications excise duty that was introduced before 2023 has been repealed under the new tax laws and is no longer applicable. The government stated it is focusing on improving revenue administration, expanding economic activity, eliminating inefficiencies and creating a competitive environment for investment and job creation rather than raising the tax burden on citizens.

The Alliance for Economic Research and Ethics LTD/GTE had warned that extra taxes could worsen cost‑of‑living pressures amid high inflation and rising living costs. The government urged the public, media, businesses and other stakeholders to disregard speculation about new telecom or fuel taxes and to rely on official channels for any future policy announcements.

SOURCE: https://nairametrics.com/2026/06/17/fg-rules-out-new-fuel-telecom-taxes-after-imf-report/