Temi Popoola, Managing Director of the Nigerian Exchange Group (NGX Group), has commended the Federal Government’s consultative approach to implementing the newly enacted capital gains tax provisions.
Popoola, in a statement on Sunday in Lagos, said that it offers a balanced path toward modernising taxation without destabilising the market.
He said the approach became necessary following the inauguration of the National Tax Policy Implementation Committee (NTPIC), established to ensure a predictable and market-aligned rollout of the new provisions.
The committee’s establishment comes after extensive engagements between government and capital-market operators, who highlighted the potential risks of a rapid rollout on liquidity and sentiment.
The committee, chaired by fiscal-policy expert, Joseph Tegbe, has been tasked with steering the implementation process toward clarity, investor protection and policy coherence.
Its mandate includes ensuring transparent guidelines, broad stakeholder consultation and an execution framework that minimizes market disruption while reinforcing confidence among domestic and foreign investors.
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Popoola also said that the exchange, working closely with the Securities and Exchange Commission (SEC), had consistently advocated a data-driven rollout.
He said such that protects liquidity, sustains participation and preserves the market’s global competitiveness.
He noted that while tax modernisation was necessary, execution must be carefully calibrated to avoid disrupting investment flows or weakening market depth.
“We support the modernisation of Nigeria’s tax system, but reforms of this scale must be carefully calibrated to protect liquidity, sustain participation and maintain competitiveness.
“Our engagements with government have focused on ensuring that implementation supports the capital market’s role in long-term investment and economic growth,” he said.
Earlier, Tegbe had assured that implementation would be fair, transparent and humane.
“Stakeholder engagement will be central to this process,” he said at the inauguration of NTPIC.
Wale Edun, Minister of Finance and Coordinating Minister of the Economy, had earlier visited NGX Group to review concerns surrounding possible unintended consequences of abrupt rollout.
