The Federal Government has inaugurated the National Tax Policy Implementation Committee to oversee the rollout of the newly introduced capital gains tax provisions, signalling a coordinated effort to ensure clarity, investor protection and a stable transition for the capital market.
The move follows weeks of technical engagements with the Securities and Exchange Commission and the Nigerian Exchange Group.
The consultations were aimed at aligning fiscal objectives with market realities, especially as Nigeria intensifies efforts to attract deeper domestic and foreign investment.
Market operators had earlier raised concerns that an uncoordinated implementation could affect liquidity and confidence.
The News Chronicle understands that the latest appointment is the government’s response to sustained calls for a structured transition framework that avoids uncertainty and protects long term market activity.
Officials familiar with the process note that the committee is expected to harmonise viewpoints from regulators, operators and major institutional investors.
The committee is chaired by respected tax and fiscal policy expert Joseph Tegbe. He said the government is committed to an implementation strategy that is transparent, fair and sensitive to economic conditions.
Tegbe explained that the reforms will not be executed in a way that discourages business investment or disrupts trading activities, adding that continuous stakeholder involvement will guide every stage of the rollout.
The NGX Group and the SEC have welcomed the development. NGX Group CEO Temi Popoola emphasised that the capital market supports tax system modernisation, but stressed that such reforms must be implemented with precision to preserve market depth and competitiveness, particularly for an economy seeking cross border capital.
Government engagement intensified after the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, visited NGX to review industry concerns. Analysts say the inauguration of the committee signals a more evidence driven and predictable reform process.
Both the SEC and NGX Group have pledged ongoing collaboration to ensure that the final implementation strengthens investor confidence and supports long term capital market growth.
