IMF to FG: Introduce telecom, fuel taxes to boost revenue

The International Monetary Fund (IMF) has urged the federal government of Nigeria to introduce new taxes on telecommunications services and fuel products as part of measures to increase revenue and create more fiscal space for development projects and social programmes. The recommendation was contained in the IMF’s latest Article IV Consultation Report on Nigeria, which outlined additional tax reforms the country may need to sustain public spending and strengthen its finances.
According to the Fund, the implementation of Nigeria’s recently enacted tax laws is expected to improve revenue collection over time. However, it warned that these measures alone may not be sufficient to meet the...