Housing Experts Urge Government to Address Taxation Challenges

Housing sector experts are calling on the Nigerian government to address the challenges posed by multiple taxation, which they say is hampering private sector participation and affordable housing delivery.

At a recent workshop, Bisi Adedire, President of the Association of Town Planning Consultants of Nigeria, argued that while levies are necessary, their structure is burdensome. “The burden hurts property developers, especially when they’re compelled to pay everything upfront while construction has not started on their plots of land. The Federal Government should look into it and adopt a system that would be beneficial to all stakeholders,” he noted.

Olorunyomi Alatise, an estate surveyor, cited the complexity of taxes as a major deterrent for property buyers. “By the time they itemise the different taxes you are to pay, you find out that it is a lot for someone that just acquired a property,” he said.

The Housing Development Advocacy Network has advocated for targeted tax relief in the 2024 Tax Bill to incentivise affordable housing projects. Recent reforms are expected to streamline tax processes and reduce administrative burdens for developers.