Taiwo Oyedele , chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, said Nigeria’s 2026 tax reform law is designed to protect low-income earners, boost disposable income and exempt small-scale capital market investors from capital gains tax.
Oyedele spoke at the Cowry Quaterly Economic Discourse, themed “Nigeria in 2026: Will Politics Trump Economic Reform?”, where he addressed concerns and misconceptions about the new tax regime.
He said the law provides automatic capital gains tax exemptions for individuals whose total proceeds from the disposal of assets do not exceed 150 million naira, provided the gain is not more than 10 million naira within a 12-month period.
“The law says everyone is entitled to an exemption on capital gains tax,” Oyedele said. “If the proceeds are not more than 150 million naira and the gain is no more than 10 million naira in 12 months, the exemption is automatic, with no explanation and no conditions attached.”
Oyedele said pension fund administrators and real estate investment trusts are also exempt, provided proceeds are reinvested. He added that high-net-worth individuals become liable to capital gains tax only when they permanently exit investments without reinvesting.
“If a multibillionaire sells shares worth 2 billion naira and decides not to reinvest, then tax is payable,” he said. “But if the proceeds are reinvested, the law allows that exemption. What you pay instead is a minimal transaction cost, which also stimulates market activity.”
He described Nigeria’s capital gains tax framework as among the most competitive globally, saying it encourages reinvestment, liquidity and growth in the capital market.
Oyedele said the committee is drafting implementation regulations to clarify gray areas in the law, while any amendments requiring legislative action will be forwarded to President Bola Tinubu for consideration.
