Nigeria's New Capital Gains Law Reshapes Taxation for Oil Majors and Investors

Nigeria's revised Capital Gains Tax (CGT) law, part of the Nigeria Tax Act 2025, has significant implications for oil giants and private equity firms operating in the country. The law replaces the flat 10% CGT rate with progressive taxation aligned with corporate income tax rates, impacting both corporate entities and individuals.

The reform aims to close loopholes, prevent offshore tax evasion, and broaden the tax base by including various assets like land, shares, goodwill, and digital assets. The changes seek to ensure fair taxation, reduce tax avoidance, and increase government revenue.