Fed Govt Plans More Tax Incentives In Capital Market

The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has said that the Federal Government will introduce more tax incentives that would enhance investments in the Nigerian capital market.

Speaking during a visit to the Nigerian Stock Exchange on Monday, Ahmed also said the ministry would work with the NSE to put policies in place that would enhance the growth of the market.

She noted that the government had in the past worked closely with the NSE, noting that some tax provisions had been made in the Finance Act of 2019 that would help to deepen the market in areas of real estate investment schemes and securities lending.

She said, “We have asked the NSE to continue to work with us so that we can encourage Nigerians to investment more in the Nigerian capital market.

“We have a lot of resources locally and we are working with the NSE to ensure we mobilise resources through the market. Any policy that government needs to put in place to enable the growth of the market, we will do that.”

She explained that while the Finance Act of 2019 had taken care of some incentives, the next Finance Act would make provisions for incentives that would enable the market to be attractive to investors.