The Federal Government has denied reports suggesting that new taxes will be introduced on petroleum products and telecommunications services in Nigeria.

In a statement on Wednesday, the Ministry of Finance said the claims were misleading and did not represent official government policy. It explained that recent references to possible tax adjustments were drawn from the International Monetary Fund (IMF) Article IV Consultation, which only contains advisory recommendations.

According to the ministry, suggestions from the IMF are not binding and cannot be treated as approved government decisions. It added that any change to Nigeria’s tax system would go through the proper legal and legislative process before being implemented.

The government also clarified that the current Value Added Tax exemption on fuel remains in place. It noted that although existing laws mention a possible fuel surcharge, it has not been activated and would require formal approval and publication in the official gazette.

Officials further said no steps have been taken to introduce such a charge.

On telecommunications, the ministry stated that the excise duty previously applied to the sector has already been removed under new tax legislation and is no longer in force.

The Federal Government urged the public to disregard reports about new taxes, stressing that current reforms are focused on improving tax administration, reducing leakages, and boosting economic activity rather than adding new tax burdens.

It assured that any future tax policy changes would be properly communicated through official channels.