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The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has reaffirmed the Federal Government’s commitment to review provisions of the Capital Gains Tax (CGT) under Nigeria’s ongoing tax reform framework, with the goal of achieving a balance between government revenue objectives and investor confidence.
Speaking at the official listing of the MOFI Real Estate Investment Fund (MREIF) on the Nigerian Exchange (NGX)in Lagos, Edun emphasized that the forthcoming review would ensure that the tax regime remains fair, transparent, and attractive to private investors.
“Considering the call for the reconsideration of the Capital Gains Tax as stated in the new tax reform, we will meet again to come out with appropriate measures that will be good for investors and for Nigeria before implementation,” Edun said.
The Minister hailed the MREIF listing as a major step forward in President Bola Tinubu’s Renewed Hope Agenda, which seeks to mobilize private capital for infrastructure development, job creation, and inclusive economic growth.
According to Edun, the Fund has already achieved significant milestones since its launch, including the creation of over 1,000 new mortgages since May 2025, a signal of its capacity to scale and transform Nigeria’s housing and financial sectors. He also highlighted the Fund’s strong credit standing, noting its AAA rating from Agusto & Co and AA rating from GCR, underscoring investor trust and the effectiveness of public-private partnerships in delivering sustainable impact.
Driving Market Confidence and Economic Transformation
Dr. Shamsuddeen Usman, Chairman of MOFI’s Board, described the MREIF listing as a pivotal moment in deepening Nigeria’s capital markets, adding that it would unlock the real estate sector’s potential as a catalyst for inclusive growth.
Similarly, Dr. Armstrong Ume Takang, Managing Director/CEO of MOFI, explained that the Fund aligns with MOFI’s mission to deploy capital strategically for national transformation, especially in housing and infrastructure finance.
“The Fund provides long-term, low-cost mortgage financing that makes homeownership a reality for millions while stimulating local economies,” Takang said.
He commended the Securities and Exchange Commission (SEC) and the Nigerian Exchange Group (NGX) for their collaborative role in structuring the MREIF to meet global regulatory standards, reinforcing transparency, governance, and compliance management within Nigeria’s capital markets.
Market Expansion and Investor Confidence
Chairman of NGX Limited, Mr. Ahonsi Unuigbe, applauded the listing of one trillion units at N100 per unit, describing it as a transformative milestone that would deepen liquidity, enhance regulatory confidence, and boost investor participation in Nigeria’s financial ecosystem.
The government’s decision to revisit the Capital Gains Tax policy reflects a growing recognition of the importance of regulatory compliance, risk assessment, and policy alignment in attracting sustainable investment flows. By refining fiscal and compliance frameworks, Nigeria aims to strengthen its investment climate, stimulate capital formation, and position itself as a competitive destination for financial innovation and RegTech-driven growth.
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