Tax reforms provide avenue for productive capital — Oyedele

By Matthew Denis

Minister of State for Finance designate, Taiwo Oyedele has said Nigeria’s tax reforms offer a unified, transparent, and predictable framework for business planning, investment risk assessment, and productive capital flow.

Speaking at the Third PUU Capital Market Colloquium in Abuja, Oyedele declared that the federal government’s tax and monetary policy reforms have fostered exchange rate stability, FX liquidity, and transparency. 

He added that the measures put in place will strengthen Nigeria’s capital market and support Africa-wide economic integration through infrastructure and innovation.

“The new tax laws are strategically designed to deepen our capital markets by recognising them not merely as trading platforms but as a vital engine of national development,” Oyedele said.

He explained further that ongoing reforms aim to build confidence in the economy, stimulate inclusive growth, and foster an investment-friendly environment. 

According to him, the reforms address Nigeria’s fragmented, complex, and costly tax system, which has historically discouraged investment and limited efficient capital allocation.

“The results of these policies are already evident on the trading floor. As of mid-February 2026, the Nigerian Stock Exchange (NGX) showed exceptional performance, with the All-Share Index (ASI) recording a robust 25.3% return in just the first seven weeks of the year.

"N100T mark in January and reached an all-time high of over N125T by Feb. 20, 2026. Confidence continues to grow from both foreign and domestic investors, driven by the structural reforms and strong performance in key sectors like energy, industrial, and financial services,” he added.

Oyedele argued that consistent policies and deeper reforms are key to leveraging the capital market for developmental financing. He emphasised the importance of strengthening trust to foster market confidence and credibility.