Nigeria’s Federal Government has moved to alleviate concerns surrounding the Capital Gains Tax (CGT) ahead of the country’s new tax laws taking effect on January 1, 2026. The assurance was given by Mr. Joseph Olasunkanmi Tegbe, Chairman of the National Tax Policy Implementation Committee (NTPIC), during the committee’s inauguration in Abuja. The amended Nigerian Tax Act plans to increase the CGT to 30 percent, a move that has sparked strong opposition from businesses and investors.
In response, Tegbe pledged that the committee will address these concerns thoroughly, ensuring the implementation process is fair, responsible, and transparent. He emphasized that the committee aims to implement the tax laws with “a human face,” acknowledging the significant tasks ahead that are crucial to the country’s economic progress. The CGT is a key issue that will be tackled in the coming days, according to Tegbe.
He noted that the new tax laws have far‑reaching implications, affecting tax administration, federal and state‑level interpretation, and the ease of doing business in Nigeria. The committee’s goal is to reassure Nigerians and investors that the act’s implementation will be fair, transparent, and free of surprises.
The government’s introduction of new tax laws is part of its effort to boost revenue and stimulate economic growth. The amended act aims to simplify tax administration, reduce tax evasion, and increase compliance. However, the proposed CGT increase has raised concerns among investors and businesses, who argue it could discourage investment and hinder growth.
As the committee begins its work, it will need to balance the government’s revenue needs with the concerns of investors and businesses. The outcome of its deliberations will be closely watched by stakeholders, as it will have significant implications for Nigeria’s economic landscape. With the new tax laws set to take effect in 2026, the committee’s efforts to address concerns and ensure a smooth implementation process will be crucial to the country’s economic progress.
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