Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has assured that the newly enacted Tax Reform Act is designed to promote fairness, equity, and sustainability without discouraging investments.
Speaking at a virtual forum organised by the Nigerian Exchange Limited (NGX) to sensitise stakeholders on the implications of the 30 per cent Capital Gains Tax (CGT), Oyedele said the Act aims to create a transparent and sustainable tax environment that aligns with international best practices.
The Reform Act is not to stifle investments but to ensure equity. Platforms like NGX allow us to engage stakeholders, clarify provisions, and incorporate feedback into implementation, he explained.
The NGX, in response, reassured investors of its commitment to preserving Nigeria’s investment appeal as the Act takes effect in January 2026.
The high-level dialogue brought together policymakers, regulators, issuers, investors, and market intermediaries to review provisions of the CGT and their implications for the capital market. While stakeholders welcomed the reforms, they raised concerns around implementation particularly determining base costs and the treatment of cross-listed securities which could create compliance challenges and risks of double taxation.
Group Chairman of NGX Group, Alhaji Umaru Kwairanga, said the Exchange remains committed to bridging the gap between policy and market realities.
Policy shifts must be well understood to preserve confidence. Our role is to facilitate this engagement to ensure reforms support sustainable growth, he noted.
Group Managing Director/CEO of NGX Group, Temi Popoola, added that the reforms call for resilience from market operators.
Fiscal reforms raise valid concerns for issuers and investors. Our duty is to ensure the market adapts while remaining attractive and forward-looking, he said.
Participants described the dialogue as timely and constructive, commending NGX for convening stakeholders to foster practical solutions and strengthen confidence in Nigeria’s investment climate.