Breaking News
Tax hike could deter foreign investors – Economists
BREAKING NEWS: Death Hit Nigeria Again As Popular Nigerian Senator Dies Just Because of This… See Viral Photos/Videos Before They Are Deleted.....TAP TO CONTINUE READING
Economists have warned that the Federal Government’s decision to raise Capital Gains Tax to 30 per cent may discourage foreign investors and dampen activities in the Nigerian equity market.
Nigeria’s new tax laws, set to take effect on January 1, 2026, represent a significant overhaul of the country’s fiscal framework. These reforms, embodied in several new acts, including the Nigeria Tax Act, the Nigeria Tax Administration Act, and the Nigeria Revenue Service Act, are designed to streamline the tax system, broaden the tax base, and promote economic growth and the outlook of the nation.
For companies, the Capital Gain Tax rate is increased from 10 per cent to 30 per cent, aligning it with the Companies Income Tax rate. For individuals, capital gains will now be taxed at the applicable progressive income tax rate based on their income band.
Speaking with The PUNCH on Monday, the Chief Executive of Cowry Treasurers Limited, Charles Sanni, said the policy could reduce investors’ profit margins and make the Nigerian market less attractive compared to other emerging markets.
According to him, the new tax regime directly impacts the returns investors take home, a development that could trigger a decline in market participation.
“The first thing to note is that the capital gains tax directly affects the returns investors take home. When you introduce a higher capital gains tax, you’re essentially reducing the earnings investors make from their investments. That automatically impacts their profit margins and makes the Nigerian market less attractive,” Sanni said.
He explained that although Nigeria’s macroeconomic fundamentals were gradually improving, the tax hike could still lead to a pullback in investor interest, especially in the equity market.
“We are likely to see a pullback in investor interest in the Nigerian equity market, even though the macroeconomic fundamentals are gradually improving. Remember, Nigeria often sets the tone for other African markets, so if we implement this, other countries might follow suit,” he added.
Sanni further warned that the move could have ripple effects on the nation’s economy, affecting foreign reserves, demand for Nigerian equities, and the cost of capital for listed firms.
“The immediate effect will be a drop in investor appetite, especially among foreign investors. This could affect our foreign reserves, reduce demand for Nigerian equities, and increase the cost of capital for listed companies. We could also experience a decline in capital inflows,” he said.
He, however, noted that the government’s decision was largely driven by the need to boost revenue.
“It’s important to understand that this isn’t a company income tax; it’s a capital gains tax. The government is simply seeking ways to increase its revenue. Two things can happen: if the macroeconomic fundamentals remain strong, it could still attract foreign investors; but if the policy is not well managed or the additional revenue isn’t used productively, it could worsen the investment climate,” Sanni explained.
Also speaking to The PUNCH, the former Director of the Central Bank of Nigeria and the West African Institute for Financial and Economic Management, Akpan Ekpo, described the tax rate as high but acknowledged that it was aimed at improving government revenue from wealthy individuals and large investors.
“To be honest, the new tax rate is quite high, and it will likely discourage some foreign investors. But I understand that the government’s intention is to raise revenue, especially from those who are wealthy and capable of paying more,” Ekpo said.
He added that while projections suggest the policy could generate up to N1tn in revenue, its success would depend on proper management and the productive use of funds.
“There are projections that this policy could generate as much as N1tn in revenue; maybe it will, maybe it won’t, but it’s good that the government is thinking big. My only concern is that such policies should not be implemented at the expense of others,” he noted.
Ekpo maintained that expanding the tax base was a welcome idea if the proceeds were channelled into critical sectors like health, education, and housing.
“That said, I don’t see anything wrong with expanding the tax base. Every country is working toward a more progressive tax system where those who earn more contribute more. In this case, middle-income earners and small investors are not really affected; it targets the wealthy.
“My hope, however, is that the revenue generated from this increase is properly utilised to improve the quality of healthcare, education, and housing. If the money is well managed and directed toward development, then the impact could be positive for the wider economy,” he said.
BREAKING NEWS: Death Hit Nigeria Again As Popular Nigerian Senator Dies Just Because of This… See Viral Photos/Videos Before They Are Deleted.
Read The Full Article Here Now
👉 Are You A WhatsApp User? Do You Want To Get Our News As Fast As Possible On Daily Basis? 👉 Click This Link To Join WhatsApp Channel Now.
Art & Commercial students don’t fail JAMB because they’re dull. They fail because they’re taught like Science students. Science students calculate — JAMB rewards that. Art students explain — JAMB doesn’t. So you read hard, attend lessons, yet your score disappoints you. This online class fixes that. No theory overload. No confusion. Just real JAMB questions, clear breakdowns, and winning strategies. 📌 JAMB is not hard — you were just taught the wrong way.Click The Link To Reach Us Now 👉 https://wa.me/2349063958940
The Kano State Government has announced that the Emir of Kano, Muhammadu Sanusi II, will lead this year’s Eid-el-Fitr Durbar, even as it unveiled strict guidelines to prevent a breakdown of law and order during the celebrations.....TAP TO CONTINUE READING
The government said the decision, approved by Governor Abba Kabir Yusuf, followed credible intelligence reports indicating attempts by some individuals to create unrest during the Sallah period.
In a statement issued on Wednesday by the Commissioner for Information and Internal Affairs, Ibrahim Abdullahi Waiya, the government said it remained committed to preserving Kano’s cultural heritage but would prioritise peace and security.
According to the statement, Hawan Idi (Eid Durbar) will be conducted by Emir Sanusi from the Kofar Mata Eid Ground through designated routes to Gidan Shettima, terminating at Kofar Fatalwa of the emir’s palace.
It added that Hawan Nasarawa would be held in a modified form without horseback displays, while Hawan Daushe, Hawan Fanisau and Hawan Dorayi have been suspended for the time being in the interest of public safety.
The government said all security agencies had been directed to intensify surveillance and ensure strict compliance with the directives before, during and after the festive period.
It urged residents to remain calm, law-abiding and cooperative with security agencies, while cautioning against the spread of unverified information.
The government further assured the public of its commitment to a peaceful and hitch-free Sallah celebration, wishing Muslims in the state a joyous Eid-el-Fitr.
The Durbar, a centuries-old cultural procession, has been thrown into uncertainty following conflicting statements from government officials on whether it will hold this year, given the unresolved legal battle between Sanusi II and Aminu Ado Bayero.
While Governor Yusuf reinstated Sanusi II in 2024, Bayero continues to contest his dethronement in court, leaving the emirship in dispute.
The government recently hinted that the stool controversy would soon be resolved.
Read The Full Article Here Now
👉 Are You A WhatsApp User? Do You Want To Get Our News As Fast As Possible On Daily Basis? 👉 Click This Link To Join WhatsApp Channel Now.
Art & Commercial students don’t fail JAMB because they’re dull. They fail because they’re taught like Science students. Science students calculate — JAMB rewards that. Art students explain — JAMB doesn’t. So you read hard, attend lessons, yet your score disappoints you. This online class fixes that. No theory overload. No confusion. Just real JAMB questions, clear breakdowns, and winning strategies. 📌 JAMB is not hard — you were just taught the wrong way.Click The Link To Reach Us Now 👉 https://wa.me/2349063958940
Yoruba nation agitator, Sunday Adeyemo, popularly known as Sunday Igboho, has dismissed comments by human rights activist and former presidential candidate, Omoyele Sowore, over what he described as transactional politics and activism.....TAP TO CONTINUE READING
PUNCH Online reports that Sowore’s comment followed a viral video in which the activist criticised what he described as “transactional politics” among some regional agitators and influencers, accusing them of aligning with political actors for personal or material benefit.
In the video, Sowore appeared to reference Igboho, suggesting that his recent political positions, including support for President Bola Tinubu’s potential re-election bid, reflected what he termed “amala politics” — a colloquial expression often used to imply opportunistic or interest-driven engagement rather than principled activism.
Igboho, in a statement issued by his media aide, Olayomi Koiki, in Ibadan, the Oyo State capital, on Tuesday, criticised Sowore for allegedly describing his activism as “amala politics” in a recent viral video circulating on social media.
He described the comment as an inconsequential rant that should be ignored by the public.
Igboho argued that his agitation for improved security in the South-West and his support for the second-term bid of President Bola Tinubu in 2027 were constitutional rights aimed at promoting the collective interests of the Yoruba people and the development of Nigeria.
He said, “We strongly reject the characterisation of Igboho’s activism as transactional. Such a myopic position misrepresents the intent and focus of our agitation on effective grassroots security in the South-West and Nigeria as a whole.
“How many protests did Sowore organise to push for my freedom? Sowore’s claim of fighting for the masses contradicts his alleged daily lodging expenses of N450,000 at a popular Lagos hotel.
“I cannot be compelled to endorse political figures such as Peter Obi or Atiku Abubakar, or even align with Sowore’s political platform. I have the right to make independent political decisions based on the security and collective interests of the Yoruba people.”
He added that Igboho’s advocacy prioritises addressing insecurity across Yorubaland, including killings of farmers, kidnappings along highways and attacks on traditional rulers and royal institutions.
Koiki, however, clarified that these concerns form the basis of Igboho’s movement rather than any ambition for political office or revolutionary leadership.
The statement added, “While Sowore has consistently promoted nationwide revolution as a pathway to leadership, Igboho’s approach is rooted in protecting lives, land and property within Yoruba territory. This agitation is a response to real and ongoing threats faced by communities in the region.
“Latest security incidents in northern Nigeria, including reported explosions in Maiduguri on March 16, 2026, also raise questions about the broader effectiveness of long-term revolutionary advocacy.
“We challenge Sowore to assess the situation in his home state of Ondo State, considering the growing cases of banditry, kidnapping and attacks on rural communities.”
The statement added that the impact of insecurity on vulnerable groups, including farmers, traditional rulers, women and children, had been severe, with several communities reportedly affected.
“These realities reinforce Igboho’s long-standing call since 2020 for localised security measures and stronger regional protection strategies.
“Labelling our agitation and efforts as ‘amala politics’ undermines the urgency of the security crisis and the legitimacy of grassroots agitation,” the statement concluded
Read The Full Article Here Now
👉 Are You A WhatsApp User? Do You Want To Get Our News As Fast As Possible On Daily Basis? 👉 Click This Link To Join WhatsApp Channel Now.
Art & Commercial students don’t fail JAMB because they’re dull. They fail because they’re taught like Science students. Science students calculate — JAMB rewards that. Art students explain — JAMB doesn’t. So you read hard, attend lessons, yet your score disappoints you. This online class fixes that. No theory overload. No confusion. Just real JAMB questions, clear breakdowns, and winning strategies. 📌 JAMB is not hard — you were just taught the wrong way.Click The Link To Reach Us Now 👉 https://wa.me/2349063958940
The continuous detention of the former governor of Kaduna State, Mallam Nasir El-Rufai, has sparked reactions from politicians and socio-political activists.....TAP TO CONTINUE READING
DAILY POST reports that the former governor has been in the custody of the Independent Corrupt Practices and Other Related Offences Commission, ICPC, over an ongoing investigation into alleged financial impropriety when he was governor.
El-Rufai had earlier spent two nights in the custody of the Economic and Financial Crimes Commission, EFCC, before he was picked up by the Department of State Services and then later handed over to the ICPC.
His continuous detention has sparked outrage among citizens who are calling on the commission to immediately charge the former governor to court.
Popular socio-political activist, Aisha Yesufu, said in a post on X that “holding a citizen indefinitely without trial” is impossible.
According to her, “that is not justice. That is not accountability. That begins to look like persecution.
“Every Nigerian, no matter how powerful or unpopular, has the right to a fair hearing. That right is not a favour from the government. It is a constitutional guarantee. If El-Rufai committed crimes, then prosecute him. Nigerians will support that. But what we must never
Support is a system where the government can detain anyone endlessly, simply because it can.
“Today, it may be El-Rufai. Tomorrow, it could be anyone else who speaks or acts in a way that those in power do not like. A democracy must be better than that.
“So the message is simple: charge him in court or release him. Let justice be done openly, lawfully, and transparently. That is the only way a nation that claims to respect the rule of law should act”.
Similarly, an activist lawyer, Deji Adeyanju, in an interview he posted on X on Wednesday, demanded that the former governor be charged to court immediately, condemning El-Rufai’s incarceration.
“No matter the allegations, I think he should be charged in a court of competent jurisdiction so that he can face the music.
“All these things currently going on don’t look tidy to me”, he said.
On his part, Paul Ibe, a media aide to the former vice president, Atiku Abubakar, lambasted ICPC for not charging the former governor to court.
In a statement on his X handle, Ibe accused the Commission of taking sides with the President Bola Tinubu-led administration.
He wrote, “The matter of the former Governor of Kaduna State, Mallam Nasir el-Rufai @elrufai has proven beyond measure that the ‘I’ in ICPC (Independent Corrupt Practices and Other Related Offences Commission) @icpcnigeria represents Illegal or Irresponsible.
“There’s nothing Independent about the Commission. They’re no different from all the other institutions of state that are standing on Tinubu’s mandate. The ICPC is nauseatingly pliable and has disgracefully made itself available in coercing members of the opposition into the ruling party”!
Read The Full Article Here Now
👉 Are You A WhatsApp User? Do You Want To Get Our News As Fast As Possible On Daily Basis? 👉 Click This Link To Join WhatsApp Channel Now.
Art & Commercial students don’t fail JAMB because they’re dull. They fail because they’re taught like Science students. Science students calculate — JAMB rewards that. Art students explain — JAMB doesn’t. So you read hard, attend lessons, yet your score disappoints you. This online class fixes that. No theory overload. No confusion. Just real JAMB questions, clear breakdowns, and winning strategies. 📌 JAMB is not hard — you were just taught the wrong way.Click The Link To Reach Us Now 👉 https://wa.me/2349063958940
-
Breaking News6 months agoWorld’s Youngest Undergraduate is Nigerian JOSHUA BECKFORD, gained admission in Oxford University at the age of Six years
-
Breaking News5 months agoJUST IN: Finally United States President Donald Trump Revokes 80,000 Visas of Nigerians, Other Foreign Nationals
-
Breaking News6 months agoBREAKING NEWS: Woman in Trouble For Burning 7-year-old Girl’s Private Parts With Hot Knife
-
Breaking News6 months agoBREAKING NEWS: FULL DETAILS! Top Secret Leaked Why SIM Fubara Fails to Return to Government House After Reinstatement
-
Breaking News5 months agoBREAKING NEWS: Nigerian Billionaire Lawmaker Ned Nwoko, Orders Arrest of His Mother In Law Regina Daniels’ Mother, Rita
-
Breaking News6 months agoBREAKING NEWS: Federal Government Releases Proof of N25,000 Cash Transfers to 71 Million Nigerians in 8.1 Million Households
-
Breaking News6 months agoBREAKING NEWS: Another Rivers Saga: Just Reinstated Fubara Told to Sack All Sole Administrators Appointees, Seek Tinubu’s Assurance Over Impeachment
-
Breaking News6 months agoBREAKING NEWS: Finally Department of State Services (DSS) summons Sowore over post on Tinubu