Figures cited by The Punch reveal that Nigeria’s Capital Gains Tax (CGT) revenue reached an unprecedented ₦522 billion in the 2025 fiscal year. This surge represents a significant leap in non-oil tax revenue, reflecting the government’s aggressive drive to expand the tax base and improve compliance across the financial and real estate sectors. The record-breaking figure is being hailed by fiscal authorities as a sign of deepening economic formalization.
The growth is largely attributed to the recovery of the Nigerian Exchange (NGX) and a flurry of high-value property transactions in major urban centers like Lagos and Abuja. Additionally, the Federal Inland Revenue Service (FIRS) has implemented more robust digital tracking mechanisms to ensure that gains from the disposal of assets are accurately captured and taxed.
Despite the impressive numbers, some economic analysts express concern that the increased tax burden could deter long-term investment. However, government officials maintain that the revenue is essential for funding critical infrastructure projects and reducing the national budget deficit.
Validating these figures, Leadership reported that the FIRS is looking to further automate the CGT collection process in 2026. A tax consultant quoted in Vanguard remarked, “The ₦522 billion mark shows that the government is finally looking beyond traditional sectors for revenue.” Furthermore, Daily Post cited a government spokesperson who noted, “This milestone is a testament to the effectiveness of recent fiscal reforms aimed at achieving a sustainable debt-to-revenue ratio.”
Echotitbits take: This revenue spike is a double-edged sword. While it helps the government’s liquidity, it may cool down the heated real estate market. Watch for potential pushback from the private sector as the FIRS looks to tighten the net on digital asset gains next.
Source: The Punch – https://punchng.com/capital-gains-tax-jumps-429-to-n12-18bn/, and February 15, 2026
Photo credit: The Punch
Tag: Revenue Generation
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Capital Gains Tax Collections Hit Historic ₦522 Billion Milestone
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Federal Government Proposes New Wealth Tax for Ultra-High-Net-Worth Individuals
The Ministry of Finance is reportedly drafting a Wealth Tax bill targeting Nigerians with assets above N5 billion, including luxury real estate and private jets, as part of a drive to increase non-oil revenue.
The government says the proposal is designed to fund social safety nets and reduce the budget deficit without raising burdens on poorer citizens, with projections of significant annual revenue if implementation is effective.
Business groups have raised concerns about capital flight and compliance complexity, while experts warn the policy only works if authorities can accurately track luxury holdings and offshore assets.
Echotitbits take: Bold, controversial, and easy to politicize. The wealthy are skilled at loopholes, so enforcement capacity will determine success. Without credible asset tracking and compliance systems, the tax risks becoming symbolic—or investment-deterring.
Source: BusinessDay – https://businessday.ng/business-economy/article/fg-proposes-25-tax-rate-on-wealthy-nigerians-earning-n100-million-monthly/ 2026-01-27Photo Credit: BusinessDay
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APC in Lagos Backs Tax Reforms, Says Low-Income Earners Will Be Shielded
In an update published by The Nation, the Lagos chapter of the APC defended the Federal Government’s tax reform agenda, arguing that the framework is intended to protect vulnerable citizens while improving compliance and collection.
Party officials said the reforms aim to streamline Nigeria’s tax architecture, reduce duplication, and expand the tax base through technology rather than imposing heavier burdens on struggling households.
The debate has drawn reactions from labour and other stakeholders amid cost-of-living concerns and broader fiscal pressures.
**Echotitbits take:** The policy battle will be won or lost on trust and implementation. Nigerians will watch for real relief—especially any clearly defined exemptions for low-income earners and visible service improvements tied to the extra revenue.
Source: Independent — https://independent.ng/new-tax-reform-not-weapon-against-the-poor-apc-clarifies/ 2026-01-08Photo Credit: Independent
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FG Targets Solid Minerals Boom as Dele Alake Pushes New Mining Roadmap
A review by Leadership highlights Federal Government plans to reposition solid minerals as a major revenue driver, with Minister Dele Alake outlining reforms aimed at modernising mining governance and attracting large-scale investment.
The roadmap prioritises boosting the sector’s GDP contribution, tightening regulation, and clamping down on illegal mining through stronger enforcement mechanisms.
Officials have also discussed value-chain capture to ensure Nigeria benefits beyond raw extraction.
**Echotitbits take:** The opportunity is huge, but enforcement and community relations will determine success. Watch for credible licensing transparency, environmental safeguards, and whether the proposed enforcement units are properly funded and accountable.
Source: fmino – https://fmino.gov.ng/fg-plots-new-roadmap-for-solid-minerals-development/ 2026-01-08Photo Credit: fmino