The International Monetary Fund (IMF) has recommended the introduction of new taxes on fuel products and telecommunications services in Nigeria, a move that could spark fresh concerns over the cost of living in the country.
In its 2026 Article IV Consultation report on Nigeria, the IMF said the government would need additional tax measures to boost revenue and fund development projects, social programmes and support for vulnerable citizens.
The Fund suggested extending Value Added Tax (VAT) to fuel products, introducing excise duties on telecom services, increasing the VAT rate, and reviewing some tax exemptions and customs duty waivers.
“Further tax policy changes will likely be needed… including extending VAT to fuel products and introducing telecom excises,” the IMF stated.
