FG rules out new taxes on telecom, fuel despite IMF recommendations
By Aboki Forex —
The Federal Government has dismissed fears that it will impose new taxes on telecommunications services and petroleum products following recommendations from the International Monetary Fund.
Reports had spread after the IMF released its Article IV Consultation Report on Nigeria. Many Nigerians worried that additional taxes would worsen the cost of living crisis.
But the government has now made its position clear. No new taxes on fuel or telecom services are being considered.
In a statement on Wednesday, June 17, 2026, the Ministry of Finance said the IMF report contains only the Fund's assessment of Nigeria's economy and policy suggestions. It does not mean the government has adopted those recommendations.
The ministry's Head of Information and Public Relations, Efe Ovuakporie, said the government remains focused on economic growth, not increasing the financial burden on Nigerians.
The ministry also assured that the VAT waiver on petroleum products remains in place.