Nigeria's Stock Market and the Challenge of Capital Gain Tax
Not looking great: "Nigeria’s equities market closed deep in the red on Friday, November 7, marking the fifth straight day of losses as investors continued to dump stocks amid fiscal policy concerns and mounting geopolitical tension.
The Nigerian All-Share Index (ASI) fell by 501.7 points to close at 149,524.8 points, down from 150,026.6 points the previous day. The 0.33% daily decline extended the week’s cumulative loss to 2.11%, erasing an estimated N2.8 trillion in market value....
"Some analysts believe the latest selloffs are being driven largely by fears surrounding the federal government’s planned 25% capital gains tax, which is scheduled to take effect in January 2026. The tax will apply to profits exceeding N150 million and is being interpreted as a signal that the government may be looking to squeeze additional revenue from investment income amid a worsening fiscal deficit."
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Tax. TaX. TAX. Those three words in formats cause trouble in this world. Nigeria, over to you