AfriPulse
FG inaugurates committee to guide capital gains tax implementation, boost investor confidence
The Federal Government has inaugurated the National Tax Policy Implementation Committee (NTPIC), signaling a deliberate move toward a market-sensitive and predictable rollout of the newly enacted capital-gains-tax (CGT) provisions.
The committee, chaired by leading tax and fiscal-policy expert Joseph Tegbe, is tasked with ensuring the CGT implementation is transparent, coherent, and minimizes disruptions to market activity. Its mandate includes stakeholder consultations, clear execution guidelines, and measures to safeguard investor confidence, both domestic and foreign.
Speaking at the inauguration, Tegbe assured that the government would avoid policies that could undermine business activity or liquidity. “Implementation of the new tax laws will be fair, transparent and humane.
We will not roll out these policies in a way that cripples businesses or investors. Stakeholder engagement will be central to this process,” he said.
The inauguration follows extensive technical discussions with capital-market institutions, including the Securities and Exchange Commission (SEC) and Nigerian Exchange Group (NGX Group).
These engagements highlighted concerns that a rapid CGT rollout could negatively impact liquidity, investor sentiment, and market competitiveness, particularly as Nigeria seeks to deepen domestic and foreign capital pools.
GMD/CEO of NGX Group, Temi Popoola praised the government’s measured approach, emphasizing the need to balance fiscal reforms with market stability.
“We support the modernisation of Nigeria’s tax system, but reforms of this scale must be carefully calibrated to protect liquidity, sustain participation and maintain competitiveness,” he said.
Popoola also stressed that precise execution is critical for emerging markets like Nigeria seeking cross-border investment.
The initiative gained momentum following consultations with Finance Minister Wale Edun, who engaged with market operators to assess potential unintended consequences of an abrupt CGT implementation.
Analysts view the committee’s inauguration as a positive signal, indicating that Nigeria intends to anchor fiscal reforms in evidence and consultation rather than speed alone.
Both SEC and NGX Group have pledged ongoing collaboration with the NTPIC to ensure that CGT implementation strengthens capital-market confidence, broadens participation, and supports long-term investment growth.
Source: NigerianNewsDirect | Read the Full Story…
