The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has been urged to address investor concerns over the new provision in the Nigerian Tax Act 2025 that raises the Capital Gains Tax (CGT) on the sale of shares worth N150 million and above from 10 per cent to 30 per cent, effective January 2026.
Chairman of the Senate Committee on Capital Market and Institutions, Senator Osita Izunaso, made the call on Wednesday while delivering a paper titled “Redefining the Rules: The Investment and Securities Act 2025 and the Future of Nigeria’s Capital Market” at the Moneyline with Nancy Investment Forum 2025 held in Abuja.
Izunaso warned that the sudden tax adjustment has unsettled investors, triggering a wave of panic disposals that caused the market to shed over N2 trillion in value within one week.
“The increase in Capital Gains Tax on share sales above ₦150 million has created understandable concern among investors. In anticipation of this change, we have observed significant disposals by major investors, leading to a notable decline in market capitalisation,” he said.
While acknowledging the importance of taxation for government revenue, the senator cautioned that fiscal measures must not erode investor confidence or stifle long-term capital formation.
He commended President Bola Ahmed Tinubu for the renewed vibrancy in the Nigerian capital market since 2023, crediting the administration’s reforms, macroeconomic stabilisation, and investor-friendly policies for strengthening market confidence and laying a solid foundation for sustainable growth.
“The Nigerian economy is at a pivotal juncture where structural reforms, fiscal discipline, and investment-friendly policies are redefining our financial and capital market architecture,” Izunaso noted.
He described the Investment and Securities Act 2025 as a transformative piece of legislation that reinforces investor confidence and deepens participation from both domestic and foreign stakeholders.
Delivering the keynote address, Akwa Ibom State Governor, Umo Eno, said Nigeria stands at a defining moment in its economic history.
He praised the federal government’s recent fiscal and financial reforms, including the Investment and Securities Act 2025, the Insurance Industry Reform Act 2025, new tax laws, and the deregulation of the electricity market as bold steps that will reshape the national economy.
Governor Eno lauded the government’s decision to liberalise the power sector, saying the move will spur competition, improve efficiency, and expand energy access nationwide.
“In Akwa Ibom, we have already begun laying the groundwork to take ownership of our power sector—so we can generate, transmit, and distribute electricity within the state. Such deeper unbundling will allow sub-national governments to serve their people better, attract private capital, and accelerate industrialisation,” he said.
The governor also commended Moneyline with Nancy host, Mrs. Nancy Nnaji, for her long-standing contribution to financial education and investment awareness in Nigeria.
He described the platform as one of the country’s most respected forums for policy dialogue and economic literacy.
