FG mulls review of controversial capital gains tax

...lists MOFI Real Estate Investment Fund on NGX

By Seun Ibiyemi

The Federal Government is considering a review of the controversial Capital Gains Tax (CGT) slated for implementation in January 2026, Finance Minister and Coordinating Minister of the Economy, Wale Edun, has confirmed.

Speaking at the listing of the MOFI Real Estate Investment Fund on the Nigerian Exchange (NGX) on Tuesday, Edun acknowledged investor concerns over the planned tax reform.

“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,” he said.

The planned tripling of the CGT for foreign equity investors from 10 percent has been cited by analysts as a factor behind a recent bearish trend in the Nigerian stock market, which has shed about 8 percent in one week, despite being up roughly 40 percent since January.

Edun’s comments signal that the government may take steps to adjust the policy to ensure investor confidence and achieve “optimum results,” potentially reversing recent market jitters.

Investors and market watchers will now be closely monitoring discussions in the coming weeks, anticipating clarity on how the government plans to balance revenue generation with sustaining foreign investment in Nigeria’s capital markets.