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Federal Government rules out new taxes on telecom services and fuel amidst IMF recommendationsMinistry of Finance assures VAT waiver on petroleum products remains intact for citizensThe government emphasises focus on economic growth rather than increasing financial burdens on Nigerians
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
The Federal Government has moved swiftly to calm growing concerns over reports that it plans to introduce new taxes on telecommunications services and petroleum products following recommendations by the International Monetary Fund (IMF).
The clarification comes after widespread reactions trailed the release of the IMF’s Article IV Consultation Report on Nigeria, with many Nigerians expressing fears that additional taxes could worsen the country’s cost-of-living crisis.
Nigerians react to the IMF’s advice to increase fuel and telecom taxes Credit: NurPhoto/ContributorSource: Getty Images
However, the government has now made its position clear: no new taxes on fuel or telecom
