A clarifying social media post by Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, has become one of the most influential fiscal discussions online, amassing over 24 million global views on X (formerly Twitter). The viral post, titled “Impact of New Capital Gains Tax Rules on the Capital Market,” offered a clear and factual breakdown of Nigeria’s Capital Gains Tax (CGT) reforms, effective from January 1, 2026, easing widespread concerns and misinformation circulating online.
In the thread, Oyedele meticulously addressed questions and misconceptions about the restructured tax regime, clarifying that the CGT rate has not been increased from 10% to 30%, as feared by many. Rather, the system has been harmonized and integrated with personal and corporate income taxes, creating a progressive structure that ensures equitable contribution across income groups.
“The Capital Gains Tax rate has not been increased to 30%. Instead, it has been aligned with income tax, meaning the applicable rate now depends on your income level or company profits,” Oyedele explained.
“This approach ensures fairness — low-income earners will either pay nothing or less, while those with higher incomes contribute a just share.”
Oyedele’s post, which has been widely shared and discussed by economists, investors, and policy analysts, highlighted the fairness, efficiency, and economic benefits of the new system. It reassured that about 99% of individual investors will be exempt from CGT, provided their annual proceeds are below ₦150 million or their capital gains do not exceed ₦10 million.
The reforms, according to Oyedele, are not designed to increase government revenue but to streamline Nigeria’s tax structure, improve compliance, and foster investment growth. He revealed that Capital Gains Tax historically contributes less than 2% to national revenue collections, with ₦52 billion raised in 2024 compared to ₦15 trillion from Companies Income Tax (CIT) and Value Added Tax (VAT).
“Businesses will benefit far more from reduced corporate tax rates and wider VAT input credits, estimated to deliver over ₦4.5 trillion in relief,” Oyedele stated.
The policy also exempts institutional investors such as pension funds, and provides relief for companies undergoing restructuring, mergers, or reorganisations, encouraging long-term reinvestment and capital market stability. Additionally, foreign investors covered by double taxation treaties will continue to enjoy credits in their home countries for taxes paid in Nigeria, ensuring competitiveness in the global investment landscape.
Oyedele’s explanation was lauded for its transparency and clarity, earning praise from both public and private sector voices. Among them was Dr. Celestine Ukpong, a respected economist and investment analyst, who described Oyedele’s digital engagement as a turning point in public fiscal communication.
“The fact that a tax explainer could reach over 24 million people shows the power of transparency,” Ukpong said.
“This is a defining moment for public policy communication — when citizens understand reforms, they are more likely to support them.”
According to Oyedele, the Capital Gains Tax reform aligns Nigeria’s system with global best practices, similar to those in advanced economies like the United Kingdom, Canada, and the United States, where capital gains are treated progressively. The structure, he added, protects small investors, fosters capital market depth, and makes Nigeria’s tax environment more predictable and fair.
He also clarified that while the reform does not directly address inflation or foreign exchange risks, it contributes to a more stable fiscal framework, giving investors confidence to plan and reinvest.
“The new rules promote equity, reduce distortions, and position Nigeria for sustainable growth,” Oyedele affirmed, noting that stakeholder consultations will continue before the 2026 rollout to ensure smooth implementation.
As the reform discourse continues to trend, the post’s virality underscores a new era of citizen-driven fiscal dialogue, where clarity and trust play central roles in economic governance. Oyedele’s approach—using accessible language and verified data—has been widely cited as an example of how policy communication can bridge the gap between government reform and public understanding.
Taiwo Oyedele’s viral X post on Nigeria’s new Capital Gains Tax reform, viewed by over 24 million people globally, clarifies key misconceptions about the 2026 policy. The Presidential Tax Reforms chief explains how the new progressive structure promotes fairness, exempts 99% of investors, and aligns Nigeria with global fiscal best practices.
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