Government Signals Capital-Gains Tax Review to Bolster Investment Sentiment

The federal government, through its Finance Minister and Coordinating Minister for the Economy, assured investors that it is open to reassessing the proposed capital-gains tax amid market concerns. The assurance came at a forum celebrating the listing of a new real-estate investment vehicle, which also underscored the role of the capital market in national development.

At the closing gong ceremony for the listing of the Real Estate Investment Fund (MREIF) Series 2 of the Ministry of Finance Incorporated (MOFI) on the Nigerian Exchange, the minister acknowledged investor apprehension surrounding the proposed tax, and affirmed that consultations with capital-market stakeholders are ongoing. “We have noted the concerns around capital gains tax and will continue to engage with the market to ensure any decisions deliver optimal outcomes for both Nigerians and the market,” he said.

The minister highlighted the housing-investment angle of the listing — noting that the MREIF offers ordinary Nigerians a pathway into savings and investment in the housing sector with shares priced at ₦100. He emphasized the government’s commitment to mobilizing local resources for economic growth, especially within the housing value chain.

Market players at the event reiterated that while liquidity remains healthy, investor confidence hinges on balanced policy design. The chief executive of the stock-exchange operator stressed that capital-gains tax frameworks must reconcile government-revenue targets with the need to deepen long-term market participation. Meanwhile, the chairman of the exchange described the listing as a landmark step toward creating shared prosperity and transforming the market’s contribution to the economy.

With over one thousand mortgage disbursements already attributed to the fund, officials believe the initiative showcases how institutional capital can address social challenges — such as the housing deficit — while offering investors viable returns. As the government signals a willingness to review key tax policy, stakeholders appear cautiously optimistic that reform will align fiscal objectives with market growth.