Oyedele Faults Media Reports on Nigeria’s Capital Gains Tax Reform

October 28, 2025
By Tobi Akinnubi

The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr. Taiwo Oyedele, has criticised recent publications by Nairametrics and BusinessDay on Nigeria’s capital gains tax reform, describing them as misleading and inconsistent with the committee’s official position.

Oyedele, in a statement on Tuesday, said the reports misrepresented the objectives and recommendations of the proposed reforms, particularly as they relate to the taxation of investments and property transactions.

According to him, the committee’s proposals were aimed at simplifying the tax system, improving compliance, and promoting economic growth, not at discouraging investments as the reports suggested.

He clarified that the proposed capital gains tax reform seeks to close loopholes, ensure fairness, and align Nigeria’s tax regime with global best practices. Oyedele added that any recommendations made by the committee are still subject to broad consultation and presidential approval before implementation.

The committee chairman urged journalists and media organisations to verify information directly from credible sources before publication, emphasising that misreporting could mislead investors and create unnecessary panic in financial markets.

Oyedele reaffirmed the committee’s commitment to transparency and accountability in the ongoing tax reform process, assuring stakeholders that all proposals would be made public and discussed extensively before adoption.