The Lead Story
Oyedele to Critics: Check the Facts on Capital Gains Tax
The Big Picture: Nigeria’s brand-new tax playbook is barely out of the wrapper, and it’s already drawing fire. On Monday, Taiwo Oyedele, chair of the Presidential Committee on Fiscal Policy & Tax Reforms, jumped on X to swat down talk that foreign investors are spooked by the country’s overhauled Capital Gains Tax (CGT). Learn more about Nigerian tax reforms
The Details: Reports from a Standard Chartered investor call claimed the mood was one of “palpable disappointment.” Not so, says Oyedele. Of the 281 participants from 10+ countries, 80 % rated the session 9 or 10, he wrote, calling headlines of frustration “mischaracterisations” (TVC News). A nearly identical rebuttal landed in Punch the same day, where Oyedele stressed that debate is healthy, “but it must be anchored on facts” (Punch).
Beyond the media spat, the reform itself is wide-ranging. It sweeps intellectual property, digital assets and incorporeal rights into the CGT net, potentially taxing royalties, software licences and more at rates up to 30 % (BusinessDay). Explore the updated provisions in the Nigeria Tax Act, 2025 that underpin these changes. That makes proper valuation “a strategic requirement,” analysts warn.
Why It Matters: Nigeria is betting that clearer, broader rules will widen the tax base without scaring capital away. Oyedele insists the investor community is curious, not curt. Still, tax pros say the new IP provisions could raise compliance costs for the booming entertainment and fintech sectors. The reaction was swift,and the fact-checking even swifter.
Around the Tax World
• ₦47.39 trn and counting: The Federal Inland Revenue Service chalked up a record ₦47.39 trn in collections between Oct 2023 and Sept 2025, smashing its target by 15 % (TVC News).
• Non-oil taxes carry the day: Non-oil revenue supplied a hefty 76 % of that pot, proof the diversification push is working, FIRS boss Zacch Adedeji told BusinessPost (https://businesspost.ng/economy/nigerias-tax-collections-reach-n22-59trn-in-nine-months-n47-39trn-in-two-years/).
• Name change incoming: Come 1 Jan 2026, FIRS will morph into the Nigeria Revenue Service (NRS) and start scooping up non-tax revenue from the upstream oil regulator (TechEconomy). Read about the transformation under the Nigeria Revenue Service (Establishment) Act, 2025.
Tax Stat of the Day
Prime Number: ₦22.59 trn , the amount FIRS pulled in just between January and September 2025, already 90 % of its full-year goal (BusinessDay).
Looking Ahead
All eyes now turn to the draft implementing regulations for IP and digital-asset valuation, expected before year-end, according to officials on the investor call.