The IMF recommends Nigeria's FG impose new fuel and telecom taxes
The International Monetary Fund (IMF) has strongly advised the Nigerian government to increase taxes and expand its revenue base to sustain social programs and public infrastructure. The key tax measures proposed in the International Monetary Fund | IMF 2026 Article IV consultation report include Fuel Taxation, Extending the Value Added Tax (VAT) to petroleum products. Telecom Services: Introducing excise duties on telecommunications services to capture more digital revenue. VAT Adjustments: Broadening the tax base and potentially increasing the overall VAT rate to boost the country's fiscal space Poverty Safeguards: The IMF strongly warned that the timing of these new tax measures must consider the severe food insecurity and poverty currently faced by many Nigerians. They emphasized that any tax increase should be accompanied by fully fun...