The Nigerian Exchange (NGX) lost about ₦1.8 trillion in market value over four trading days as investor sentiment weakened amid fiscal and geopolitical concerns.

The All-Share Index fell from 154,123.62 to 150,026.55 points, cutting year-to-date gains to 45.76% from 49.74%.

CGT Proposal Triggers Sell-Off

The downturn followed investor reaction to the Federal Government’s proposed 25% capital gains tax on profits above ₦150 million, scheduled to begin in January 2026. The plan has raised fears of lower investment returns, prompting portfolio shifts toward safer assets.

Trump’s Remarks Deepen Anxiety

Comments by U.S. President Donald Trump, threatening possible military action in Nigeria over alleged persecution of Christians, further rattled investors, especially foreign portfolios sensitive to political risks.

Outlook

Analysts expect market volatility to persist until there’s clarity on the new tax regime and a cooling of geopolitical tensions. Still, the NGX remains one of Africa’s top-performing exchanges in 2025, suggesting potential for rebound once stability returns. Visit www.jocomms.com for more news.