Professionals in Nigeria’s built environment sector have urged town planning consultants to take advantage of incentives contained in the new Nigerian Tax Act while strengthening record-keeping and compliance practices.

The call was made during the 2026 Annual General Meeting of the Lagos branch of the Association of Town Planning Consultants of Nigeria (ATOPCON), where stakeholders examined the implications of recent tax reforms on professional practice.

Experts Highlight Tax Implications for Planning Consultants

Speaking at the event, professional accountant and tax administrator, Mrs. Olufunlola Adediran, advised practitioners to fully understand both the responsibilities and opportunities introduced by the new legal framework.

Delivering a presentation titled “The Nigeria Tax Act, 2025: The Impact on Town Planning Consultancy Services,” she explained that town planners operate within sectors directly influenced by tax regulations, including property development, infrastructure delivery, government contracts, and consultancy services.

According to her, areas affected include Value Added Tax (VAT), withholding tax, Companies Income Tax (CIT), Personal Income Tax, development levies, capital allowances, and stamp duties.

“We are advising town planners to familiarise themselves with the provisions of the new tax law, the obligations and the incentives,” she said.

Small Firms May Benefit from Tax Relief

Adediran noted that taxable services for town planning professionals include layout preparation, environmental impact assessments, urban renewal projects, zoning activities, regularisation processes, training programmes, and seminars.

She added that many small-scale planning firms could benefit significantly from provisions under the new law.

According to her, firms with annual turnover below N100 million may qualify for exemption from Companies Income Tax under Section 56 of the Nigeria Tax Act 2025.

She further noted that consultants involved in land documentation, property transactions, and government contracts could also benefit from certain stamp duty exemptions.

Experts Warn Against Poor Tax Practices

Adediran warned practitioners against mixing personal finances with business income, stating that proper financial separation improves compliance and may reduce tax burdens.

She also cautioned that failure to meet tax obligations under the new framework could trigger automatic penalties.

“The government is the sleeping partner of every business because taxes ultimately support public infrastructure and development,” she said.

ATOPCON Calls for Innovation and Continuous Learning

Chairman of ATOPCON Lagos branch, Bello Akinwale, said the session was designed to help members understand the impact of tax reforms on consultancy operations and avoid costly compliance mistakes.

He encouraged practitioners to embrace continuous learning to remain competitive.

Past President of ATOPCON and Chairman of the occasion, Waheed Kadiri, also stressed the need for stronger business sustainability models in the profession.

According to him, consultancy firms must adapt to changing economic realities through strategic planning, innovation, and stronger collaboration.

“We must embrace innovation, strengthen technical capacity, adopt emerging technologies, and build stronger collaboration among professionals,” Kadiri said.

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The executive director of Housing Development Advocacy Network (HDAN), Festus Adebayo, has sounded a sharp alarm, warning that increase in insecurity in several parts of Nigeria poses a serious threat to investment in its real estate sector.

According to him, the surge in kidnapping, banditry, and general lawlessness could severely undermine both housing development and investor confidence. emphasizing the fact that the deteriorating security situation is already prompting developers to withdraw from construction sites.

He argued that if the federal government fails to address these security woes swiftly, the real estate sector, presently a powerful engine of job creation and economic growth, may grind to a near halt.

Festus Adebayo stated, “We are of the view that with the perpetuation of the security challenges, the housing deficit of 22 million, may worsen as real estate investment may drop in some parts of the country”

In addition to security concerns, HDAN has previously attributed a decline in real estate development in the country over rising construction costs, driven by both violence and inflation of building materials. The net result, they argue, is a declining appetite for property investment, especially in areas where the risk of attack is high.

The group is calling for urgent, coordinated action, including stronger security deployment, but smarter policies, transparency, and accountability in housing delivery.

In their view, only a stable and secure environment will restore trust and encourage both developers and home seekers to remain active in the market. Without such interventions, the advocacy network fears the nation may see stalled projects, empty estates, and a worsening housing crisis, all because homes can not be built or occupied where people don’t feel safe.

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Government to Review Ongoing Projects

This week, China’s State Council held a high-level meeting. After the meeting, state broadcaster CCTV reported that the government plans to inspect housing projects that are still under construction. The goal is to find out which projects are delayed or abandoned and take steps to help them move forward.

Officials said they will support what they call “good housing.” This means homes that are livable, affordable, and delivered on time. To do this, the government will offer help through land policies, tax relief, and financial aid. These steps aim to assist builders and give homebuyers more confidence.

A Sector in Crisis

China’s property market was once a strong part of its economy. For years, it drove growth and helped millions of people become homeowners. But since 2020, many real estate companies have faced debt problems. This happened after the government introduced rules to stop excessive borrowing.

Companies like Evergrande and Country Garden failed to pay their debts. Many people who bought homes from them are still waiting for their houses. Some buyers have stopped paying their mortgages in protest. This has led to fear and frustration across the country.

Focus Shifts to Finishing Existing Homes

Instead of starting new housing projects, the government now wants builders to complete the ones already in progress. This change shows that China wants to fix the current problems before creating more. By finishing these homes, the government hopes to rebuild trust and reduce financial risks.

Banks may also be asked to give easier loans to reliable developers. Local officials could offer land discounts or tax breaks to support construction. All these efforts are meant to keep the housing market from falling further.

Long-Term Challenges Remain

Even with these changes, China’s housing market still faces big challenges. The country’s population is aging, and fewer young people are buying homes. In smaller cities, there are already too many empty apartments. Investors and buyers are cautious, waiting to see if these new policies will work.

Still, the government’s recent steps show that it understands the crisis. It wants to protect buyers, help builders, and keep the economy stable. Whether these efforts succeed will depend on how quickly and fairly they are put into action.

The post China Takes Action to Fix Its Struggling Housing Market appeared first on Housing TV Africa.

The conversation quickly shifted from celebration to advocacy as key players lamented the state of the real estate sector, calling for better oversight and accountability.

Moses Adeyemi, Managing Director of Jide Taiwo & Company, expressed concern over the unregulated nature of Nigeria’s real estate market. He described it as a “free-for-all” industry where individuals with little to no qualifications could operate unchecked. 

Adeyemi highlighted that only the valuation segment of the industry is currently regulated under the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON), which certifies professionals through seals and stamps.

The conversation also touched on housing affordability, with Adeyemi noting that affordability is a relative concept. According to him, individual choices around location, taste, and income level all factor into what is considered affordable.

Another major topic of concern was the increasing prevalence of high-rise developments and the associated risks of building collapse. Adeyemi stressed the importance of adhering strictly to government regulations, noting that many collapsed buildings lacked approved plans and certifications. 

Seyi Aluko, General Manager of the firm’s Abuja branch, echoed these sentiments, stating that Nigeria’s real estate sector remains vastly under-regulated when compared to global standards.

He also drew attention to the absence of a centralised identity verification system, which he described as a loophole that enables rent defaulters to move freely without consequences.

The event was not only a forum for industry critique but also a tribute to the legacy of Chief Jide Taiwo. His first daughter, Jumoke Anifalaje, paid a heartfelt tribute to her father, describing him as a man of integrity, professionalism, and quiet determination.

The dual celebration served as a reminder of both the progress the industry has made and the urgent reforms needed to ensure it continues to grow in a safe, professional, and sustainable manner.

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At a recent meeting with stakeholders, the Commissioner for Housing, Moruf Akinderu-Fatai, urged estate agents to act against fake practitioners. These individuals encourage landlords to charge unfair rents and fees not recognized by Lagos law.

The commissioner raised concerns about the increasing rent hikes and unauthorized charges. He said such actions break the state’s real estate rules and add pressure on residents. He called on licensed agents to help regulate the system and restore order in rent practices across Lagos.

Akinderu-Fatai stressed that rent should be paid monthly, quarterly, or yearly. Tenants should not be asked to pay more than one year upfront. This model, he said, would make housing more affordable and reduce rent default. The state is working with key players to roll out the system smoothly for both tenants and landlords.

At the meeting, he was joined by the Special Adviser to the Governor on Housing, Barakat Odunuga-Bakare. Together, they reminded agents of the real estate law. It allows for a maximum charge of 10 percent on property transactions. They also urged agents to promote the flexible rent model to their clients.

In response, ERCAN President Godwin Aleke assured the government of the group’s full support. He said members of the association are committed to fair rent and will help curb bad practices in the sector. He promised to work with other stakeholders to bring back trust in the real estate business.

The meeting is part of the government’s wider plan to engage with industry players. It wants to create a fair, affordable, and transparent rental system for everyone in Lagos.

The post Lagos Moves Against Illegal Rent Hikes and Fake Real Estate Agents appeared first on Housing TV Africa.

The Federal Government, through the Ministry of Housing and Urban Development, has taken a significant step toward improving land administration in the country with a promise to streamline the processes for land registration and documentation to boost the real estate sector.

This was disclosed during a workshop on National Land Registration and Documentation Programme (NLRDP) facilitated by the ministry’s Lands and Housing Development Department in Abuja.

The workshop aimed to address Nigeria’s land tenure issues, which have long posed challenges to property ownership, urban development, and economic growth.

The Minister of Housing and Urban Development, Arc. Ahmed Dangiwa, emphasized the government’s commitment to streamlining land registration and documentation to unlock Nigeria’s vast real estate potential.

Among the experts at the event was the Chairman of the Senate Committee on Lands and Housing, Sen. Aminu Tambuwal, who commended the ministry for its foresight in addressing Nigeria’s land documentation challenges. He noted that the initiative would help establish a more robust land policy.

Commissioners of Housing from Cross River, Plateau, Jigawa, and Kano States took turns delivering goodwill messages, appreciating the federal government’s efforts and highlighting the importance of efficient land administration for national development.

Fuad Malkawi, a Senior Urban Development Specialist with the World Bank, stressed the need for improved land administration in Nigeria. He noted that many Nigerian cities face significant urban challenges and that streamlined land acquisition is essential for sustainable development. Malkawi also commended states like Kano, Kaduna, and Lagos for taking positive steps toward improving land administration.

Speaking on the role of the real estate sector, Akintoye Adeoye, the National President of the Real Estate Developers Association of Nigeria (REDAN), mentioned that land documentation and registration are the bedrock of any economy. He explained that land is the largest asset class and that ensuring proper documentation can unlock economic opportunities for Nigerians.

Mr. Shehu Osidi, the Managing Director of the Federal Mortgage Bank of Nigeria, stated that the bank has developed products aimed at integrating the informal sector into Nigeria’s mortgage system.

Mr. Adebomeyin Abdulganiyu, the Surveyor General of the Federation, reiterated that land in Nigeria is vested in the government under the Land Use Act. He explained that governors serve as custodians of land within their states and that proper surveying and boundary demarcation are crucial to unlocking the economic potential of land.

With land tenure security playing a crucial role in national development, the National Land Registration and Documentation Programme (NLRDP) is expected to bring greater transparency, efficiency, and accessibility to land administration in Nigeria. This initiative aligns with the government’s commitment to improving housing and urban development policies, ensuring that landowners and investors have a clearer legal framework for property rights.

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According to a joint report by NAREDCO and EY, India’s real estate industry is on track to reach a $1-trillion market valuation by 2030, driven by PropTech innovations and government initiatives like the Smart Cities Mission and the Digital India campaign. Technology continues to play a pivotal role in shaping the sector. In 2024, the integration of artificial intelligence (AI), the Internet of Things (IoT), and blockchain technology has transformed how real estate projects are developed, managed, and marketed to potential buyers. The adoption of AI and emerging technologies has introduced new trends and redefined industry norms in India’s real estate sector.

Below are some of the trends integrated into the real estate sector, with the help of modern technology:

AI-powered property search and recommendations
AI-driven platforms personalize property searches for buyers. Sellers make use of AI-generated 3D property staging models, which can enhance the appeal of the project. “Virtual and Augmented Reality (AR/VR) tools also enable immersive property tours. Such advancements empower buyers to make informed decisions, streamlining the entire home buying experience. For real estate individuals as well, navigating through portfolios and acquisitions becomes easier by improving precision and efficiency. One of the most compelling features of AI is its ability to offer personalized recommendations. It analyses past searches, user preference, and saved properties to enhance results,” informs Viren Mehta, Director, ElitePro Infra.

Predictive analytics and market analysis
AI-driven platforms can process vast data sets like historical data, market trends, property features, and consumer behavior. This helps in faster value generation for a particular property or region. This predictive approach also helps stakeholders to make data-driven decisions, improving profitability while minimizing potential risks. Technology-driven sensors provide predictive insights by detecting issues such as leaks and temperature fluctuations. This enables proactive maintenance and addressing issues before they escalate. Predictive aspect into the real estate segment extends the lifetime of the property in focus.

Virtual assistants
Earlier, people were solely dependent on in-person visits while evaluating any property. “With the involvement of technology into the real estate sector, people can now do immersive, virtual tours into residential and commercial premises. For several people, chatbots and AI assistants have become the first point of contact in home buying. These chatbots provide assistance and answer to queries from potential buyers,” says Mehta.

Property management
Technology has shifted the course of property management by allowing property managers to shift their focus from mundane tasks, while saving time and cost. Cloud-based systems, powered by AI and IoT, play a pivotal role in this shift. They streamline essential property management functions like accounting, handling maintenance requests, and improving communications with various stakeholders.

Sustainability and smart living
With a growing demand for sustainable living, integration of AI and IoT have made significant improvements into the residential and commercial spaces. “Developers incorporate modern home features like smart thermostats, automated lighting systems, and advanced security systems. For them, smart home features are a crucial selling point, especially for luxury and eco-conscious buyers preferring automated and energy-efficient solutions. These features offer the perfect blend of comfort, automation, and sustainability. Moreover, solar-powered technologies and smart water management systems are experiencing demand, catering to the evolving needs of buyers and developers while promoting eco-friendly practices in the real estate development,” says Mehta.

Conclusion
Technology has been a key driver of growth in India’s real estate sector. It has transformed the way properties are designed, developed, and marketed. By incorporating innovative features like AI, IoT, and enhanced sustainable systems into projects, developers not only enhance the appeal of their project, but also drive significant demand from buyers. For potential buyers, technological solutions into housing and commercial spaces enable a comfortable, luxurious living experience. Integration of technological solutions enhances the project’s efficiency and also helps in curbing various operational costs.

The post Building the Future: How tech is reshaping India’s real estate sector appeared first on Housing TV Africa.

Marking its 15th anniversary with a renewed focus on bridging the housing gap, the company is rolling out initiatives that prioritize affordability, accessibility, and sustainability in home development.

At the anniversary celebration in Abuja, the company’s Chief Executive Officer, Professor Festus Uwakhemen, emphasized the importance of providing quality housing solutions that cater to all Nigerians, regardless of financial status.

He acknowledged that homeownership remains a distant dream for many, primarily due to skyrocketing real estate prices and economic constraints.

However, he reassured the public that the firm is determined to change that narrative by offering low-cost housing without compromising quality.

“Housing is not a luxury; it is a necessity,” Uwakhemen stated. “Unfortunately, many Nigerians, especially those in the low-income bracket, find it nearly impossible to afford a decent home. At our company, we see this as a challenge that must be addressed, and we are taking deliberate steps to ensure that more individuals and families can secure a place they can proudly call home.”

Reinforcing this commitment, the company’s Managing Director, Shola Peters, shared insights into their ongoing and future projects.

She revealed that the firm has embarked on several large-scale developments tailored to low-income earners, one of which is a 700-plot residential estate in Orozo, Nasarawa State.

According to her, this initiative is designed to provide quality, affordable housing options in a rapidly developing region.

Peters further highlighted the financial constraints many aspiring homeowners face and the company’s strategy to alleviate such burdens.

“We understand that affordability is a major concern for many Nigerians,” she said. “That’s why we are working hand in hand with mortgage banks and other financial institutions to provide flexible payment plans that make homeownership more realistic and accessible. Our goal is to remove the financial barriers that prevent people from owning homes.”

Beyond Nasarawa, the firm is expanding its footprint with affordable housing projects in Lagos, Port Harcourt, and Edo State, as disclosed by the company’s Chief Operations Manager, Joseph Akpezi.

He underscored that the firm is not merely building houses but creating sustainable communities where families can thrive.

“The demand for affordable housing continues to grow, and we are fully committed to meeting this need,” Akpezi affirmed. “We are introducing innovative housing solutions that not only meet industry standards but also align with the economic realities of everyday Nigerians. Our long-term vision is encapsulated in our motto—‘Shelter for All.’”

As part of its broader efforts, the company is also exploring partnerships with government agencies, private investors, and federal mortgage institutions to introduce low-interest housing loans and flexible mortgage options.

Akpezi stressed that homeownership should not be an exclusive privilege for the wealthy but an attainable goal for all hardworking Nigerians.

With an ambitious expansion plan and a clear mission to redefine affordable housing in Nigeria, the firm is positioning itself as a trusted name in the real estate sector.

By providing practical solutions and easing the financial burden of homeownership, the company offers renewed hope to low-income earners striving for a place to call home.

The post Bringing Homes Within Reach: Firm Vows to Tackle Housing Crisis for Low-Income Earners appeared first on Housing TV Africa.

This remarkable growth forecast, outlined by Statista Market Insights, considers key economic trends and industry dynamics shaping the country’s property landscape.

The report further predicts a steady 2.40% annual growth rate from 2025 to 2029, potentially pushing the market volume to an astonishing $398.33 billion by the end of the period.

Surging Demand and Investor Interest

A sharp increase in demand for commercial real estate is driving this growth, with foreign investors flocking to Nigeria to capitalize on the country’s expanding economy. Large-scale developments are emerging across major cities, including Lagos, Abuja, and Port Harcourt, covering office spaces, retail centers, industrial hubs, multifamily housing, hotels, and warehouses.

Purple Lekki Mall: A Landmark Development

One of the most notable additions to Nigeria’s commercial real estate sector is the Purple Lekki Mall, a groundbreaking N80 billion project by Purple Real Estate.

Spanning 10,000 square meters on Freedom Way in Lekki, Lagos, this eight-floor, mixed-use development marks a shift toward modern, integrated urban spaces. Analysts praise the project for blending retail, residential, office, and entertainment facilities, creating a seamless, walkable environment for businesses and consumers.

A Retail-Infused Mixed-Use Hub

According to Olaide Agboola, CEO of Purple Real Estate Plc, the mall is Nigeria’s first-ever retail-infused mixed-use development.

The structure features:

50 retail stores
206 studio apartments
One-to-four-bedroom residences
Fitness and entertainment centers

Despite facing construction setbacks during the COVID-19 pandemic, the project was completed in October 2024 and has since become a major economic hub in Lekki.

Sustainability and Economic Impact

Agboola highlights that the vision behind the project was to merge different urban functionalities into a single, accessible hub, fostering connectivity and economic synergy.

The development has also earned an EDGE certification, recognizing its commitment to sustainability and environmental responsibility. By integrating trade and property development, the mall creates a thriving commercial marketplace where traders and customers can interact effortlessly.

The valuation of the entire project now exceeds N80 billion, reflecting investor confidence in the future of Nigeria’s commercial real estate sector.

Government Support for Real Estate Expansion

During the official ribbon-cutting ceremony, Governor Babajide Sanwo-Olu praised the Purple Lekki Mall for its contribution to Lagos’ economic and infrastructural growth.

Encouraging similar developments across the city, he reassured investors that the government remains committed to creating a business-friendly environment.

🔹 “We will continue to eliminate bureaucratic obstacles and ensure businesses thrive,” the governor stated.

Future Growth and Market Outlook

With rapid urbanization and population growth, Nigeria’s demand for commercial real estate is expected to continue soaring.

Industry experts believe that the sector will keep attracting both local and international investors, eager to leverage Nigeria’s evolving urban landscape.

As new developments redefine innovation and economic integration, Nigeria’s commercial real estate market is on track for sustained expansion, solidifying its position as a key player in Africa’s property industry.

The post Nigeria’s Commercial Property Market Poised for a $362 Billion Boom by 2025 appeared first on Housing TV Africa.

Speaking in Lagos during his investiture as a Fellow of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), he emphasized the sector’s crucial role in stabilizing the economy, boosting investor confidence, and addressing the country’s housing shortfall. In a statement released by his special assistant, Jackson Udom, he commended estate surveyors and valuers for their behind-the-scenes work in shaping Nigeria’s economic landscape, ensuring that land and property investments remain secure and viable.

He pointed out that without the expertise of real estate professionals, businesses would struggle to invest, and homeownership for millions of Nigerians would remain an unattainable dream. As global economies increasingly rely on real estate-backed financial stability, he urged Nigeria to reposition its property and housing sectors as vital engines for growth.

Akpabio assured stakeholders of legislative support for policies aimed at making housing more affordable, ensuring a corruption-free land administration system, attracting both local and foreign investments into the real estate sector, and promoting urban planning that fosters economic expansion. He stressed that real estate should not merely be seen as private wealth but as a critical economic asset for national development.

With Nigeria grappling with an estimated 28 million housing deficit, he called for stronger collaboration between the government, private sector, and real estate professionals to create lasting solutions. He emphasized that housing must be treated as a fundamental right rather than a privilege, advocating for frameworks that enable all Nigerians, regardless of income level, to achieve homeownership without undue financial hardship.

https://africahousingshow.com/benefits/

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