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The Federal Government has rubbished reports suggesting that it has adopted or is considering new taxes on telecommunications services and petroleum products following the publication of the International Monetary Fund (IMF) Article IV Consultation Report on Nigeria.

The Government said the reports misrepresent the content of the IMF report and do not reflect its policy direction.

The IMF Article IV Consultation Report contains the Fund’s assessment of Nigeria’s economy as well as recommendations for consideration by the authorities. Those recommendations do not amount to government policy and are not binding on Nigeria. Decisions on tax matters are taken through established constitutional and legislative processes and are guided by national priorities and prevailing economic realities.

The Government clarified that the Value Added Tax (VAT) waiver on petroleum products remains in place and has not been withdrawn. It also noted that although existing legislation provides for a fuel surcharge, such a measure can only take effect through a ministerial order and publication in the Official Gazette. No such process is under consideration.

The continued suspension of these charges has helped cushion the effect of global energy price fluctuations on households and businesses while keeping domestic fuel prices relatively stable.

The Government further clarified that the telecommunications excise duty introduced before 2023 has been repealed under the new tax laws and is therefore no longer applicable.

Against this backdrop, reports claiming that new taxes are being planned for telecommunications services or petroleum products are not factual and should be disregarded.

The Federal Government remains focused on reforms that promote economic growth, improve revenue administration and create a more competitive environment for investment and job creation. The emphasis remains on expanding economic activity, plugging leakages and improving efficiency rather than placing additional tax burdens on citizens.

Any future tax measures will be announced through official channels and implemented in line with the law.

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The Nigerian Communications Commission, working with consultancy KPMG, has begun a comprehensive review of telecom interconnection pricing, the first major reassessment of the sector’s tariff framework in nearly a decade.

The exercise, kicked off in Lagos at a mobile termination rate stakeholder forum on Tuesday, brought regulators, operators and industry participants into a structured process to reassess wholesale pricing rules that govern payments between networks for completing voice calls.

Mobile Termination Rates are regulated fees paid by one operator to another to complete calls across networks. They influence competition, investment, and retail pricing.

The telecom regulator said the current framework, last set in 2018 and adjusted in 2022, has been overtaken by structural changes in the market, including the rollout of 5G, the expansion of data-led services, and the entry of mobile virtual network operators.

It also cited macroeconomic pressure, including currency depreciation and inflation, which have significantly altered operators’ cost bases.

The Head of the Competition and Tariff Unit at the NCC, Omotayo Mohammed, said the exercise goes beyond a routine tariff review and reflects the need to align regulation with a rapidly evolving industry.

The executive stated that the telecom market has changed materially since the last determination, both in technology deployment and market structure, adding that new service categories and business models now require regulatory attention.

“For regulation to remain effective in a fast-moving market, our frameworks must evolve in step with it,” Mohammed said, noting that the review is being conducted under Section 108 of the Nigerian Communications Act 2003 to ensure tariffs remain cost-reflective and non-discriminatory.

KPMG noted the study would combine data analysis, stakeholder consultation, and international benchmarking to inform a revised pricing framework.

Partner and Head of Tax, Wole Obayomi, said that regulatory and people services at the firm that the exercise was designed to identify gaps in the existing regime and test whether a structured review cycle is required.

The process, he said, depends on industry input. “It is important that we get input from the industry in terms of potential solutions and recommendations to address the shortfalls,” he said.

Under the review, the NCC and KPMG will examine pricing practices across wholesale and retail segments and assess whether emerging services are adequately captured under existing regulatory definitions.

The sector’s evolution over the past decade has introduced new business models that are not fully reflected in current rules.

The study will also assess the sustainability of prevailing tariff structures, with attention to investment capacity, service quality, and consumer affordability.

Operators, the consultants noted, apply varying pricing models within regulatory limits, making it necessary to examine how these structures function in practice.

As part of the process, the NCC will require operators to submit detailed financial and operational data covering revenue, costs, profitability, market share, capital expenditure, service quality, and usage trends over multiple years.

KPMG said the dataset is intended to provide a clearer view of industry trends and the cumulative impact of existing pricing rules.

The engagement will include bilateral technical sessions with mobile network operators, mobile virtual network operators, international carriers, clearing houses, and interconnect exchange providers.

Industry participants are expected to involve finance, technical, and commercial teams in the discussions.

The NCC and KPMG will also benchmark Nigeria’s framework against peer markets, including South Africa and Kenya, alongside emerging economies such as Indonesia and Malaysia.

The selection, consultants said, reflects similarities in macroeconomic conditions and regulatory responses to sector development.

Findings from the benchmarking exercise are expected to inform recommendations for a revised pricing regime aligned with both domestic conditions and international practice.

The commission said the review is intended to support a pricing framework that is transparent, competitive, and capable of sustaining investment in network infrastructure and service quality.

NCC Director of Public Affairs Nnenna Ukoha said the exercise cuts across the entire telecom value chain, from operators to consumers and investors.

She said termination rates remain central to pricing dynamics, competition, and service outcomes.

Ukoha said the commission would integrate stakeholder feedback under its co-creation regulatory approach.

She urged operators to comply with timelines for data submission, noting that the process would only be effective with timely and accurate input.

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The Governor of Anambra State, Prof. Chukwuma Soludo, has declared his strong support for the leadership of President Bola Ahmed Tinubu, urging Ndigbo to move from an alliance of protests to an alliance for progress.

Speaking during a grand endorsement rally for President Tinubu in Abakaliki, Ebonyi State, yesterday, Soludo emphasised the growing synergy between progressive forces across Nigeria, describing his attendance as a “solidarity visit” and a resounding display of inter-party cooperation, progressivism and national unity.

Standing alongside his host, the Governor of Ebonyi State, whom he affectionately recognised as “my own brother,” Governor Soludo affirmed his commitment to the collaborative governance currently shaping the nation.

“I am here on a solidarity march with my own brother, the Rt. Hon. Governor of Ebonyi State, who, by the grace of God, is governor until 2031,” he remarked to applause.

Governor Soludo, representing the All Progressives Grand Alliance (APGA), underpinned the necessity of moving beyond traditional political silos to secure the nation’s future.

“I am here in solidarity with you because today, you are endorsing the President and Commander-in-Chief of Nigeria, Asiwaju Bola Ahmed Tinubu, GCFR,” he stated. “I have come in solidarity because progressives are working together. It is time for progressives to unite.”

Addressing the current economic and social climate, the governor acknowledged the presence of national challenges but expressed optimism in the current administration’s efforts to address them. He signalled that his own party, APGA, would soon convene to formalise its position, with the ultimate goal of consolidating a national progressive front to ensure the continuity of the foundational structures being laid by President Tinubu.

In a poignant message to his fellow Ndigbo, Governor Soludo made a compelling argument for a shift in political strategy. He urged the region to move away from historical patterns of grievance-based politics towards a future defined by pragmatic partnership.

“I say to ụmụ nne m ndị Igbo, ENOUGH of the politics of lamentation,” Governor Soludo declared. “We must now move from the alliance of protest to the alliance for progress—an alliance and partnership for prosperity for Ndigbo. We must now unite as Ndigbo; we must not waste our votes again,” he stated.