…Reaffirms VAT waiver on PMS
By Seun Ibiyemi
The Federal Government of Nigeria has dismissed reports suggesting plans to introduce new taxes on telecommunications services and petroleum products, describing the claims as false and inconsistent with the current policy direction of the administration.
In a statement issued by the Press Secretary to the Minister of Finance, Maryann Duke, the government clarified that recent speculation about impending tax measures was inaccurate and did not reflect any official decision.
According to the statement, the rumours gained traction following the publication of the latest Article IV Consultation Report on Nigeria by the International Monetary Fund (IMF).
The Ministry of Finance explained that the IMF report merely contains the Fund’s independent assessments and policy recommendations, which are not binding on the Nigerian government.
It stressed that policy decisions are made through established constitutional, legislative and institutional processes that take into account national priorities and prevailing economic realities.
Addressing concerns over fuel taxation, the government stated that the Value Added Tax (VAT) waiver currently applicable to petroleum products remains fully in force and has not been withdrawn.
The ministry noted that any statutory fuel surcharge would require a specific ministerial order and formal publication in the Official Gazette, adding that no such action is under consideration.
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According to the statement, maintaining the suspension of such taxes has helped keep domestic fuel prices below international averages and those of neighbouring countries, providing relief for households and businesses amid global energy market uncertainties.
The government also clarified that the telecommunications excise duty introduced before 2023 has been completely repealed under the country’s revised tax laws and is no longer in effect.
Maryann Duke reiterated the administration’s commitment to a transparent and growth-oriented tax regime, assuring citizens and investors that any future fiscal measures would be communicated through official channels and in accordance with due process.
The clarification comes amid growing public concern over the potential impact of new taxes on the cost of living and business operations across the country
