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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.
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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 Oyo State Police Command has announced an operational success recorded following an intelligence-led operation.....TAP TO CONTINUE READING
Acting on credible intelligence, operatives of the Command intercepted a truck conveying materials suspected to be explosive devices during a stop-and-search operation in Saki, Oyo State. The truck and the suspected materials were promptly secured and are currently in police custody.
Upon receiving a briefing on the development, the Commissioner of Police, Oyo State Command, CP Femi Haruna, immediately ordered a comprehensive investigation into the matter.
Consequently, specialised personnel of the Explosive Ordnance Disposal (EOD) Unit and the Chemical, Biological, Radiological and Nuclear (CBRN) Unit were deployed to safely secure the items for safekeeping and forensic examination. Detailed forensic analysis has since commenced, alongside a thorough and robust investigation to determine the exact nature of the items and their intended use.
The truck driver has been taken into custody and is cooperating fully with investigators as efforts continue to unravel all the circumstances surrounding the incident.
The Commissioner of Police commended the Inspector-General of Police, IGP Kayode Adeolu Egbetokun, for his unwavering support, strategic leadership, and continued provision of operational guidance that enhance proactive, intelligence-driven policing across the country.
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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
One person has died and another sustained injuries following an assault by suspected armed bandits in Apa Local Government Area of Benue State.....TAP TO CONTINUE READING
According to sources, the attack took place on January 24 around 4:00 p.m. along the Amoke–Odugbo road in Ukpogo Village, Edikwu Ward.
The victims, identified as Mr Joseph Okoh and Miss Aneh Sunday, both from Ogodumo, Adoka in Otukpo LGA, were reportedly riding a motorcycle when the assailants struck.
“They were rushed to the Comprehensive Health Centre, Ugbokpo, where Mr Okoh was confirmed dead while receiving treatment. Miss Sunday is currently admitted and responding to treatment,” the source stated.
Nigerian troops were quickly deployed to the area, and a search operation in the surrounding bushes is ongoing to apprehend the attackers.
“The Criminal Investigation Department has commenced an investigation into the incident,” the source added.
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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 Joint Admissions and Matriculation Board has scrapped special concessions and registration procedures previously granted to candidates with albinism for the 2026 Unified Tertiary Matriculation Examination, citing abuse of the privilege to perpetrate examination malpractice.....TAP TO CONTINUE READING
The Board also warned faith-based tertiary institutions to clearly declare their religious status at the point of admission, saying it is deceptive to present as secular and later impose religious rules on students.
As reported by Vanguard, these decisions were taken on Saturday at a meeting between JAMB management, led by its Registrar, Prof. Isaq Oloyede, and Commissioners for Education from the 36 states of the federation and the Federal Capital Territory, held in Ikeja, Lagos.
Oloyede said the meeting was convened to review and assess previous admission exercises.
He noted that despite safeguards introduced by the Board, some individuals remained determined to circumvent the system.
“We have stopped some concessions we gave albino candidates. This is because some are using artificial intelligence to manipulate the registration process to look like they are albinos because of the consideration we gave them.
“Last year alone, over 7,000 claimed to be albinos. We have stopped special registration procedures for albinos,” he said.
Addressing complaints from candidates admitted into some private institutions over compulsory religious instruction, Oloyede urged faith-based schools to be transparent.
“Faith-based institutions should declare from the onset what they are, so that whoever applies there will know what he is going to meet there. But some don’t do that. They will pretend to be secular, but once students are admitted, trouble will begin over religious instruction and injunctions.
“If you are a faith-based institution, say so. The law allows you to set up faith-based schools,” he said.
On last year’s UTME, where the highest-scoring candidate was later found to be a 300-level university student, the JAMB registrar said investigations showed that some undergraduates sit for the examination to change courses or assist others to secure admission.
“Students who are already in school but want to change courses and are applying again must declare and disclose their status.
“We have found that some candidates already in school are writing the examination for other candidates. Last year, the candidate who scored the highest was found to be a 300-level student in the university.
“Henceforth, any candidate found engaging in such an act, and who fails to disclose that he is already in school but wants to change course, will be disqualified and will also lose his current admission,” he said.
On admission criteria, Oloyede explained that federal government-owned institutions allocate 45 per cent on merit, 20 per cent on catchment area, 20 per cent to educationally disadvantaged states, while the remaining slots are allocated to other considerations.
“Each owner or state has the right to decide what its admission criteria will be. But for states, we encourage them to allocate at least 10 per cent to merit, regardless of where the candidates come from.
“This is to diversify the student population and admit eggheads from different communities,” he said.
He criticised some states for establishing new universities despite not fully utilising their admission quotas in existing federal institutions.
On underage candidates, Oloyede said 16 years remained the minimum admission age, noting that an attestation process was in place for exceptional cases.
“Last year, about 42,000 claimed to be underage. After evaluation, only 78 met the criteria and were admitted. We are not saying there are no talented candidates, but the figure looks outlandish,” he said.
The issue of how to engage underage candidates during a gap year divided opinions at the meeting, but a majority voted for JAMB to continue its special assessment process.
The meeting also observed that parental pressure on children to complete their education too quickly was a major contributor to the problem.
On efforts to curb examination malpractice, Oloyede said JAMB had stopped the movement of computers between Computer-Based Test centres.
“A computer registered in a particular centre will remain there and is not transferable to another centre. Some people borrow computers to get accredited and later move them around,” he said.
He dismissed claims that candidates were posted to towns they did not choose, saying personal data used for registration were drawn directly from the National Identification Number submitted by candidates.
Providing an update on the 2025 UTME, Oloyede said 974,855 candidates had so far been admitted out of about 1.95 million who sat for the examination.
He added that over N2.4 billion had been disbursed to institutions that consistently complied with JAMB’s rules over the past 10 years, and that the meeting agreed that schools producing the best candidates should be compensated.
On accreditation of CBT centres, Oloyede said the process involved teams comprising university vice-chancellors, rectors and provosts in each state.
He warned state governments against agreements with private promoters who might use centres to facilitate malpractice.
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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
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