Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, yesterday said the Federal Government would engage in further consultation and review the provisions on Capital Gains Tax (CGT) in order to ensure the tax reform serves the best interest of the economy.
Speaking yesterday at the listing of the MOFI Real Estate Investment Fund (MREIF) on the Nigerian Exchange (NGX) in Lagos, Edun said the government had taken note of concerns from stakeholders on the CGT.
“We have heard what you have said about capital gains tax. We are looking at it. We will listen. We will analyse. We will discuss and we will, at the end of it, decide, and hopefully we will decide what is best for Nigeria,” Edun said.
The new tax laws, which become effective January 2026, introduces a progressive CGT which ranges as high as 30 per cent, as against the previous flat 10 per cent rate.
Many analysts have linked recent steep decline at the Nigerian stock market partly to anxieties around the CGT, with stakeholders calling for clarity and further consultation around the new tax provision.
Chairman, Presidential Fiscal Policy & Tax Reforms Committee, Mr Taiwo Oyedele, however explained yesterday recent discussions around the impact of the CGT reform on the capital market have included some misinterpretations and misinformation.
According to him, while detailed implementation guidelines would be provided through official regulations, it is important to clarify the critical issues at this stage.
“The new CGT framework represents a major improvement over the existing law. The reform makes investment in the Nigerian capital market more attractive, reduces investment risk, and ensures fair treatment of legitimate costs incurred by investors. In essence, the reform promotes equity and confidence in the market – not the reverse,” Oyedele said, in explanatory notes posted on his X (formerly Twitter) handle.
Edun reassured the investing public that the President Bola Tinubu’s administration remains committed to fostering investment friendly environment, highlighting the critical importance of private capital in the economic growth agenda of the government.
According to him, the government reforms were aimed at engendering stability, liquidity and growth as basis for sustainable economic growth.
He added that the government recognises the importance of the capital market and would act with care to ensure the best results for the economy and the general investing environment.
Edun said the listing of the commercial tranche of MREIF reaffirmed President Bola Ahmed Tinubu’s commitment to addressing Nigeria’s housing deficit through innovative, market-driven financing models.
“The MREIF represents a transformative approach to affordable housing—mobilizing private and institutional capital into the housing sector, creating jobs, and stimulating economic growth.
“With strong credit ratings of AAA by Agusto & Co and AA by GCR, the Fund demonstrates investor confidence and provides a sustainable model for financing social infrastructure through public-private partnerships,” Edun said.
He noted that the MREIF is already operational, with over 1,000 mortgages created since disbursements commenced in May 2025 —demonstrating the Fund’s early impact and scalability.
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com