In a sweeping structural reform, Nigeria has effectively abolished its standalone 10% Capital Gains Tax (CGT) and integrated the gains into its new income tax regime, a move that has triggered widespread debate over its potential to stifle investment or modernize tax fairness. Under the newly signed Nigeria Tax Act, 2025, capital gains for individuals …
As a measure to keep Nigeria's debt-service-to-revenue ratio in check, the Nigerian Economic Summit Group (NESG) has urged the federal government to broaden the non-oil tax base to improve its fiscal position. The Group made the call in its latest ‘Macroeconomic Condition Index (MCI)’ report it published on Wednesday, October 8. It observed that debt …
Economist, Professor Bongo Adi, has warned that while data show Nigeria's economy is growing, the citizens with harsh economic conditions that continue to impoverish them. Adi stated this while commenting on the World Bank Report released on Wednesday. According to the report, the World Bank has upgraded Nigeria’s 2025 economic growth forecast to 4.2 per …
President Bola Ahmed Tinubu’s fresh request to the House of Representatives for the approval of a $2.847 billion (approximately ₦4.19 trillion) external loan has stirred widespread unease among Nigerians, sparking an outpouring of reactions across social media platforms. Many citizens expressed concern that the country’s rising debt profile could burden future generations and cripple the economy …
Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr. Taiwo Oyedele, has announced that about 98 per cent of Nigerian workers will be exempted from Pay-As-You-Earn (PAYE) deductions when the new tax law becomes effective in January 2026. Oyedele made this known during a session at the 31st Nigerian Economic Summit (NES31) in …
President Bola Tinubu has withheld assent to two bills recently passed by the National Assembly, citing provisions he described as fiscally risky, inconsistent with existing policies, and potentially detrimental to sound governance. Senate President Godswill Akpabio read the President’s objection letters during Tuesday’s plenary session as lawmakers resumed from their annual recess. Concerns Over Transport …
The Presidential Fiscal Policy and Tax Reforms Committee has again engaged journalists, influencers, and public analysts to clarify some misconceptions surrounding Nigeria’s newly enacted tax reform laws. At the interactive session on Friday, October 3, in Lagos, the chairman of the committee, Taiwo Oyedele, highlighted key troubling spots, including personal income tax, value-added tax, tax …
As Nigeria celebrates its 65th Independence anniversary, the Alliance for Economic Research and Ethics Ltd/Gte has warned that the nation’s economic recovery remains fragile, urging government at all levels to prioritise human capital development as the foundation for sustainable growth. In a statement signed by its Chairman, Dele Kelvin Oye, the Alliance noted that although …
As the Nigerian government prepares to implement new tax laws on January 1, 2026, there are mixed feelings of anticipation and anxiety among businesses, economic experts, and citizens regarding the impact. The six-month deadline set from June 2025, when the laws were signed by President Tinubu, was intended to allow for robust stakeholder engagement and …
The Centre for the Promotion of Private Enterprise (CPPE) has called on the fiscal and monetary authorities to prioritise reforms to sustain Nigeria's disinflation trend. Its Chief Executive Officer, Muda Yusuf, made the call in a statement on Tuesday, September 16. He said, "To consolidate and build on these gains, a coherent mix of fiscal, …
