The federal government has dismissed reports that it is considering new taxes on telecommunications services and petroleum products, seeking to calm concerns that recommendations contained in the International Monetary Fund’s latest assessment of the economy could translate into higher costs for consumers and businesses.
In a statement released Wednesday, the ministry of finance said media reports suggesting that authorities had adopted or were weighing new levies on fuel and telecom services misrepresented the contents of the IMF’s Article IV Consultation Report on Nigeria.
The ministry said the IMF report contained the Fund’s assessment of the country’s economic conditions and policy recommendations, but stressed that such proposals do not constitute government policy and are not binding on Nigerian authorities.
“Decisions on tax matters are taken through established constitutional and legislative processes and are guided by national priorities and prevailing economic realities,” the ministry said.
The clarification comes amid heightened sensitivity over
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