Nigerian Capital Market Operators Call for Lower Capital Gains Tax

Capital market operators in Nigeria are urging a review of the proposed 30% capital gains tax to 25% to ease the burden on investors. The operators, represented by the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, highlight concerns about the potential impact of the tax increase on the Nigerian Exchange Limited (NGX).

They emphasize the need to maintain investor confidence and encourage market growth amid positive market performance driven by government reforms. The operators stress the importance of a balanced tax regime to support both domestic and foreign institutional investors.