After suffering a historic ₦4.6 trillion loss earlier in the week, the market bounced back following clarifications from the Federal Government regarding the implementation of the Capital Gains Tax (CGT) on securities transactions. The Minister of Finance, Wale Edun, assured stakeholders that the government would adopt a consultative and cautious approach, easing investor fears and restoring confidence Nairametrics Vanguard.
Key market highlights
Market capitalization rose from ₦89.884 trillion to ₦92.477 trillion
All-Share Index (ASI) increased by 2.88%, closing at 145,403.83 points
Year-to-date return climbed to 41.27%
Market breadth was positive: 65 gainers vs. 11 losers
Major gainers included GTCO, Nigerian Breweries, Ecobank, Access Corporation, and AXA Mansard Newsverge
What triggered the rebound?
The government’s clarification on CGT policy, especially its non-retroactive application, helped reverse panic-driven sell-offs.
Public statements by Taiwo Oyedele, Chair of the Presidential Fiscal Policy and Tax Reforms Committee, emphasized that the reforms aim to promote fairness and growth, not stifle market activity Vanguard.
This rebound underscores the sensitivity of the Nigerian capital market to fiscal policy signals and the importance of transparent communication between regulators and investors.
Sources: Nairametrics Vanguard Newsverge
