Capital Operators in the Nigerian capital market have urged Chairman of Presidential Committee on Fiscal Policy and Tax Reforms (FPTR), Mr. Taiwo Oyedele, to reconsider the proposed introduction of a 30 per cent tax on capital gains from the disposal of shares. In an open letter to Oyedele, which was dated October 2, 2025, the operators said the rate, expected to take effect from January 2026, will “put a lot of pressure on the NGX until the end of the year, as domestic and foreign institutional investors look to realise gains under the current tax regime”. However, the average investors’ return on the stock market section of the Nigerian Exchange Limited (NGX) appreciated to N27.82 trillion, driven by the federal government’s foreign exchange reforms, among others, that boosted confidence. Measuring the performance by market capitalisation, it was revealed that the stock market opened for trading in 2025 at N62.763 trillion, gained 44.3per cent or N27.82 trillion to close September 30, 2025 at N90.581 trillion. In September 2025, the market capitalisation added 2.04 per cent or N1.81 trillion, from N88.769 trillion, it closed for trading in August 2025 from N90.581 trillion.
THISDAY