By David Akinmola
The Federal Government has dismissed suggestions that it plans to introduce new taxes on fuel, telecommunications and other key sectors of the economy, assuring Nigerians that no such measures are under consideration despite recent recommendations by the International Monetary Fund (IMF).
The clarification follows concerns triggered by reports that the IMF had advised Nigeria to broaden its tax base and increase revenue mobilisation through additional fiscal measures as part of efforts to strengthen public finances.
In a statement, the government said it remains committed to pursuing revenue reforms that promote economic growth, improve tax administration and enhance compliance, rather than imposing new taxes that could worsen the cost-of-living pressures facing households and businesses.
Officials stressed that ongoing reforms are focused on widening the tax net, reducing leakages and improving efficiency in revenue collection, while ensuring that the burden on taxpayers does not increase unnecessarily.
The assurance is expected to provide relief to consumers and businesses already grappling with elevated inflation, rising energy costs and higher operating expenses, amid concerns that additional taxes on fuel and telecommunications services could further squeeze disposable incomes and increase production costs.
Analysts noted that any new levies on fuel or telecom services would likely have a broad impact on the economy given their strategic role in transportation, communications and business operations.
The IMF, in its recent assessment of the Nigerian economy, highlighted the need for stronger domestic revenue mobilisation to support fiscal sustainability and reduce dependence on borrowing. However, government officials maintained that policy decisions on taxation would be guided by national economic priorities and the need to sustain growth.
The administration said its focus remains on implementing ongoing tax reforms, improving the ease of doing business and creating an environment that supports investment, job creation and private sector development.
Stakeholders have welcomed the government’s position, arguing that stability in the tax regime is critical for investor confidence and business planning, particularly at a time when many firms are still adjusting to recent economic reforms.
The government reiterated its commitment to engaging stakeholders on fiscal policy issues and ensuring that any future reforms are designed to support economic competitiveness while protecting vulnerable citizens from additional financial pressures.
