By PwC
We’re pleased to share our latest publication, Nigeria’s Capital Gains Tax reforms: What the new 30% rate and indirect transfer rules mean for investors.
Following the commencement of the Nigeria Tax Act on 1 January 2026, Nigeria’s Capital Gains Tax (CGT) regime has entered a new phase. The changes introduce a higher CGT rate for companies, broaden the scope of transactions that may be subject to tax, and raise important questions around the application of the new rules and their practical implementation.
The reforms have important implications for investors, businesses and Nigeria’s investment landscape:
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For investors and businesses: Transactions involving Nigerian assets may now face a higher tax cost. In some cases, the sale of shares in a foreign company may also trigger CGT in Nigeria if the transaction results in a change in ownership of a Nigerian company or asset. This increases the importance of tax due diligence, valuation and transaction planning, particularly for cross-border transactions and corporate reorganisations.
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For Nigeria’s investment landscape: The reforms strengthen Nigeria’s ability to tax value derived from Nigerian assets. However, questions remain around the interpretation and implementation of some provisions, including the indirect transfer rules, treatment of capital losses and valuation.
Our publication examines these issues, the implications for investors and areas where further clarity may be required.
