The Federal Government will review the provisions on Capital Gains Tax (CGT) to ensure that the ongoing tax reforms align with Nigeria’s economic interests, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said.
Speaking at the listing of the Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund (MREIF) on the Nigerian Exchange (NGX) in Lagos, Edun said the government had taken note of stakeholders’ concerns over the new CGT regime.
“We have heard what you have said about capital gains tax. We are looking at it. We will listen, analyse, discuss, and at the end, decide what is best for Nigeria,” he stated.
The new tax law, which takes effect in January 2026, introduces a progressive CGT of up to 30 per cent, replacing the previous flat rate of 10 per cent. Analysts have linked recent declines in the stock market partly to concerns surrounding the reform.
Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr Taiwo Oyedele, however, clarified that much of the debate around the new framework stemmed from misinterpretation.
He said the reform makes the capital market more attractive and reduces investment risk by allowing investors to deduct legitimate costs and losses. “The new CGT framework promotes equity, confidence, and fair treatment of investors,” he noted.
Edun reassured investors that President Bola Ahmed Tinubu’s administration remains committed to maintaining an investment-friendly environment, stressing that private capital plays a vital role in the government’s economic growth agenda.
He said the MREIF listing reflects Tinubu’s commitment to addressing Nigeria’s housing deficit through innovative, market-driven financing models. “The Fund mobilises private and institutional capital into the housing sector, creating jobs and stimulating growth,” he added.
MOFI Chairman, Dr Shamsuddeen Usman, described the listing as a major step toward deepening Nigeria’s capital markets and driving inclusive growth, while MOFI Managing Director, Dr Armstrong Takang, said the fund would expand access to affordable housing through long-term, low-cost mortgage financing.
Group Managing Director of the NGX Group, Mr Temi Popoola, urged the government to ensure balance in implementing the CGT reform to sustain investor confidence and market growth.
