Edun Promises Fair Capital Gains Tax, Finance Ministry Unveils N1trn MOFI Fund Series 2

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November 12, 2025
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Kayode Tokede

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, yesterday pledged that the federal government would adopt a cautious and consultative approach in implementing the recently enacted tax reform laws, particularly the contentious capital gains tax (CGT) on securities transactions.

Edun, made the commitment in Lagos, during the official listing of the N1 trillion Series 2 of the Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund on the Nigerian Exchange (NGX), marking one of the largest real estate fund listings in the Exchange’s history.

“We have heard what you have said on capital gains tax. We will consult in a way that gives Nigeria an optimum result. We will listen, analyse, and decide on what is best for Nigeria and for your markets,” Edun assured capital market stakeholders.

The minister said the government recognises the concerns expressed by market operators and was committed to balancing fiscal efficiency with investment growth, ensuring that new tax measures support rather than hinder the development of Nigeria’s capital market.

Edun, accompanied by officials of the Ministry and executives of the joint issuing houses, was on the floor of the NGX for the official listing of the N1 trillion Series 2 of the Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund on the Nigerian Exchange (NGX), marking one of the largest real estate fund listings in the Exchange’s history.

The N1 trillion MOFI Real Estate Investment Fund, with 1 billion units priced at N100 each was admitted on NGX official list for immediate trading on the floor after the Finance Minister Wale rang the traditional closing bell.

Introducing the investment fund on the floor, the joint issuing houses, Vetiva Securities Limited and Citi Investment Capital Limited, urged the NGX to admit the investment products for immediate trading.

Edun praised the NGX and its leadership for aligning with President Bola Tinubu’s reform agenda and for expanding opportunities for retail investors.

He noted that the equities market has gained about 50 percent year-to-date, with total market capitalisation hovering around $100 billion in dollar terms, describing it as a reflection of investor confidence in ongoing macroeconomic and structural reforms.

“The improvements in the stock exchange index are a function of confidence — stability in government revenues, economic growth, exchange rate, and reserves,” Edun said.

He particularly commended the Exchange and the issuing houses — Vetiva Securities Limited and Citi Investment Capital Limited — for structuring investment products that allow ordinary Nigerians to participate in wealth creation.

Highlighting the N100-per-unit pricing of the MOFI Real Estate Investment Fund, Edun said such innovations promote financial inclusion and foster a long-term savings culture essential for national growth.

“You have made it possible for ordinary Nigerians — not just the wealthy — to invest, save for the future, and be part of the country’s growth story,” he said.

Edun disclosed that the Tax and Fiscal Policy Reform Committee has concluded its work, leading to the passage of a new tax act now at the implementation stage under the Ministry of Finance. He emphasised that the process would prioritise fairness, consultation, and economic efficiency.

According to him, the broader fiscal reform drive was aimed at improving revenue mobilisation while creating an enabling environment for businesses and investors.

“Our goal is to make Nigeria’s tax system more efficient, more transparent, and more equitable,” he added.

Group Managing Director/Chief Executive Officer, NGX Group, Temi Popoola, reaffirmed the capital market’s role as a catalyst for inclusive growth and called on the federal government to ensure balanced outcomes in the implementation of the Capital Gains Tax.

“The capital market is not only a platform for attracting investment but also a tool for creating wealth for Nigerians. Policies such as the capital gains tax must be carefully designed to balance government revenue objectives with investor confidence and market growth.

“NGX Group remains committed to supporting the Renewed Hope Agenda by channeling private capital into initiatives that deliver sustainable, long-term impact.”

The ceremony also highlighted the strength of collaboration between the federal government, MOFI, and the private sector in mobilising innovative financing for housing.

Chairman, NGX, Mr. Ahonsi Unuigbe, described the listing as a “defining step toward transforming Nigeria into a leading economy that ensures shared prosperity for all Nigerians.”

In his remarks, CEO, NGX, Mr. Jude Chiemeka said MREIF demonstrates how the capital market could deliver practical solutions to national challenges: “By channeling private capital into housing, we are creating opportunities for long-term investment and wealth creation while addressing Nigeria’s housing deficit.”

Managing Director/CEO, MOFI, Dr. Armstrong Ume Takang added: “MREIF provides long-term, low-cost mortgage financing to make homeownership a reality for millions of Nigerians, stimulating local economies across the housing value chain.”

The Closing Gong Ceremony positioned MREIF as a model for inclusive economic growth, illustrating how institutional capital can drive both financial stability and social impact. With over 1,000 mortgages already disbursed, the initiative continues to expand middle-class wealth and deepen Nigeria’s capital market.

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Seplat Adds 33,000 Bpd to Crude Output after Rehabilitating 26 Oil Wells

•Ethiopia fends off Nigeria, to host COP32 climate summit in 2027

Emmanuel Addeh in Abuja

Seplat Energy Plc, a leading Nigerian independent energy company, has stated that it has rehabilitated 33 oil wells, out of which 26 were successful, raising the company’s crude production by 33,000 barrels per day (bpd) in recent times.

The Chief Operating Officer, Seplat Energy, Samson Ezugworie, said this while giving a keynote at the opening ceremony of the 43rd Nigerian Association of Petroleum Explorationists (NAPE) Annual International Conference & Exhibition in Lagos, a statement signed by the company’s Manager, Corporate Communications, Stanley Opara, said.

The Seplat Energy COO, who spoke on the conference theme: ‘Revitalising the Nigerian Petroleum Exploration and Production: Strategies for Energy Security and Sustainable Development’, stated that in the quest to build a prosperous Nigeria, the country must target an affordable, reliable and accessible energy regime for all.

“We’ve worked on rehabilitating 33 wells and had success with 26, which are now producing about 33,000 barrels between them. That’s a step in the right direction to closing the current gap in production that could leave Nigeria with a shortfall in its revenues. We will continue to rehabilitate wells, which isn’t costing us much, and we’re optimistic that we can get more production to help our industry reach the production targets the government has set,” the Seplat COO stated.

Speaking on energy poverty in the country, Ezugworie stated that today, more than 70 million Nigerians still lack access to electricity, while more than 170 million rely on biomass for cooking, which he said is terrible for the environment and for households.

“And with Nigeria’s population projected to reach 237 million by 2025 and 400 million by 2050, the urgency to act is undeniable, because today’s problems will become far worse if we don’t take actions now to solve them. We will have 160 million more people to feed and house, and we need to create 100 million new jobs. But imagine what Nigeria can achieve if we do?

“The imperative before us is clear. We must build a prosperous Nigeria, and we can only do that with affordable and reliable energy that is accessible to all,” he argued.

According to Ezugworie, to meet these challenges, Nigeria must increase oil production — not just to boost national revenues and reduce current shortfall so our government can meet its budgetary needs, but also to drive its Gross Domestic Product (GDP) growth that reinforces the country’s position as the economic powerhouse of the African continent.

He said: “We must also harness our huge reserves of gas and scale up gas and NGL production to expand domestic energy access, displace polluting imported generators, provide clean cooking for our people, and power our basic industries to support our national growth.

“The global energy landscape is shifting, and so too is our own. We are witnessing a transition in the ownership and operation of Nigeria’s vast natural resources as assets pass from well-funded, well-resourced international giants to local Nigerian operators, blessed with enthusiasm and expertise but less global in their outlook.

“It’s a shift that creates new capital dynamics in our need to raise international finance, while at the same time increasing our focus on managing risks and looking after our natural environment.

“But with these challenges come opportunities: opportunities to harness and enhance local knowledge, build resilient partnerships with our industry partners, and with our host communities, and most of all, build an industry that is owned and managed by Nigerians, for Nigerians.”

At Seplat Energy, he stated that the belief is that the future of Nigerian production lies in three core principles which the industry must adopt: Leadership, Partnership, and Stewardship.

Ezugworie stressed that the principles had played out since Seplat Energy took control of its offshore assets, following its recent acquisition.

On the company’s gas business, he said Seplat Energy was close to delivering first gas from its joint venture ANOH Gas Processing Plant.

“We’ve also recently delivered our first cargoes of LPG from the newly upgraded Sapele Gas Plant, and I’m pleased to report that we’re well on track to ending routine flaring in our onshore operations, enabling us to reduce emissions, capture gas and monetise it, which is a win-win for Seplat, for the environment and for our communities.

“Our progress on gas initiatives like ANOH, Sapele, and LPG shipments is a testament to our commitment to Nigeria’s prosperity. These projects are not just about energy; they are about transforming lives and powering Nigeria’s development,” he added.

Meanwhile, Ethiopia said on Tuesday it would host the United Nations’ COP32 climate summit in 2027, fending off a rival bid from Nigeria to land an influential role that will allow it to shape the agenda and outcomes of the event.

The more immediate choice of host for next year’s COP31 remains unresolved, however, with both Australia and Turkey vying for it, a Reuters report said.

COP host countries adopt a presidency role which allows them to set goals for the summit and showcase their own climate issues, as well as an important position in resolving any conflicts that arise during negotiations.

At a plenary session of this year’s event in Brazil, Ethiopia confirmed it had been endorsed by fellow African nations to hold the 2027 conference in its capital Addis Ababa, as first reported by Reuters on Monday.

“We are deeply grateful for the trust and confidence bestowed on the Ethiopian people and government,” Ethiopia’s ambassador to Brazil, Leulseged Tadese Abebe, told a plenary session of the COP30 summit. COP summits rotate around the world’s regions and the decision must be unanimous among all countries in the region.

The decision still needs to be officially adopted, but this is now considered a formality. This year’s conference is being held in the Amazonian city of Belem. Next year’s hosting choice within the “Western Europe and Others” group has been hung up for months, with neither Turkey nor Australia backing down.

Australia made its COP31 bid in partnership with the Pacific Islands, which are among the world’s most vulnerable places to climate change. Correa do Lago urged countries in the Western European group on Monday to resolve their impasse as soon as possible. If it cannot be resolved, the conference would be held in Bonn, Germany, where the U.N. climate agency is based.

“We would have to, but we do not want to,” German State Secretary in the Environment Ministry Jochen Flasbarth told reporters.

•Ethiopia fends off Nigeria, to host COP32 climate summit in 2027 Emmanuel Addeh in Abuja Seplat Energy Plc, a leading Nigerian independent energy company, has stated that it has rehabilitated

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First Lady Canvasses Cooperation Between Both Genders for Nation’s Meaningful Development

•Inaugurates gender and public policy studies centre in Kuru

•Donates N250m for renovation of NIPSS

Deji Elumoye in Abuja

Wife of the President, Senator Oluremi Tinubu has declared that actual progress can be realised in the nation’s polity and other sectors when both genders stand as allies and work together.

Speaking Tuesday at the inauguration of the Oluremi Tinubu Gender and Public Policy Studies Centre of the National Institute of Policy and Strategic Studies, NIPSS in Kuru, Jos, the First Lady commended the approach of the Center to Gender Issues and Research as it has included both sexes.

Her words: “The establishment of this Gender Centre represents a bold step towards bringing gender issues to the forefront of every facet of our society towards achieving equity.

“I am particularly pleased that the Centre’s approach includes both men and women, recognizing that inclusion must be a shared national agenda. Actual progress will come when both genders stand as allies, working together to dismantle stereotypes, open opportunities, and strengthen our collective humanity”.

The project which was conceptualised and actualised by the participants of the Senior Executive Course 45(2023) of NIPSS was applauded by Mrs Tinubu who said: “The establishment of this Gender Centre represents a bold step towards bringing gender issues to the forefront of every facet of our society towards achieving equity. This project would not have become a reality if not for the foresight of participants of the Senior Executive Course 45 (2024) who conceived, funded, and executed what we are all seeing today. I applaud your vision and generosity, this gesture of yours will no doubt leave a lasting legacy on our nation’s policy landscape”.

“The vision of this Centre aligns with one of the key priorities of the Renewed Hope Agenda of His Excellency, President Bola Ahmed Tinubu, GCFR, which seeks to harness the full potential of all citizens, regardless of gender, ethnicity, religion, or economic status”.

She noted that with the Gender Centre in place, there would be more transformative public policy research and inclusive national development.

In his goodwill message on the occasion, Governor Caleb Mutfwang of Plateau State said he was looking forward to the Gender Center enhancing the public discourse on reserved seats for females in the legislature and executive arm of government adding that women remain pivotal to national and societal development.

On his part, Chairman of the Board of NIPSS and former Senate President, Senator Ken Nnamani commended the choice of naming the center after Senator Oluremi Tinubu describing her as a go-getter.

He called for urgent attention to the citadel of learning explaining that many structures within the Institute which will be 50 years shortly, needs renovation and refurbishment.

To this end, the First Lady donated N250m to the Gender Center.

•Inaugurates gender and public policy studies centre in Kuru •Donates N250m for renovation of NIPSS Deji Elumoye in Abuja Wife of the President, Senator Oluremi Tinubu has declared that actual