Nigeria’s newly introduced tax law is being described as a game-changer for the real estate sector, with experts highlighting its far-reaching benefits for home buyers, renters, developers, and investors.

One of the biggest advantages is the removal of value-added tax (VAT) on land and residential property sales, including rental transactions. This is expected to reduce overall construction costs and make housing more affordable. “This law creates real cost savings for buyers and renters. Exempting residential property from VAT lowers transaction costs and reduces the burden of rent and purchase,” an industry expert explained.

The law also provides capital gains tax exemptions on the disposal of personal residential properties, creating opportunities for homeowners to save more when selling. Another provision exempts leases below ₦10 million per month from stamp duty, a move that eases the burden on tenants. In addition, benefits in kind (BIK) valuation for individuals has been capped at 20 percent of annual salary, ensuring more predictable taxation.

Developers and construction firms are also expected to benefit significantly. Imported building materials, which form a large part of Nigeria’s construction costs, are now VAT-exempt. “For developers, this is a huge relief. The removal of VAT on input materials will directly lower costs and, by extension, make housing projects more viable,” one stakeholder noted.

Small and local contractors will now pay a lower withholding tax (WHT) of 2 percent, down from 2.5 percent, while foreign contractors will pay 5 percent. For investors and real estate investment trusts (REITs), the law introduces a WHT exemption on dividend distributions, a measure that experts say will attract fresh capital into the sector.

Real estate investors believe the reforms could spark renewed activity in commercial property markets as well. “There will be a significant boost in investor participation because the law eases tax burdens and encourages long-term commitments in real estate,” an analyst said.

Industry leaders also stressed the importance of aligning tax reforms with better land administration. “Real estate in Nigeria is locked-down wealth. If states ensure proper land title registrations, it will improve financial systems, attract investments, and strengthen mortgage insurance,” a developer observed.

The consensus across stakeholders is that the new tax law not only reduces costs for individuals and institutions but also positions real estate as a stronger driver of economic growth. “These reforms are unlocking opportunities that will enhance home ownership, expand mortgage access, and deepen investment in Nigeria’s property market,” another stakeholder emphasized.

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Speaking to journalists in Abuja, Yahaya claimed that Eselemo, who originally rented a two-bedroom apartment through his brother and a family agent in 2018, stopped paying rent after the first year. “I was away for medical treatment abroad when he stopped paying rent. When I returned, I found he had remained on the property without my consent,” Yahaya said. “He turned from a tenant to a landlord overnight. He’s erecting new structures, subletting to others, and now claims to own the property.”

Yahaya stated that despite his attempts to report the matter to the relevant authorities, including the Abuja Development Control Department and the police, no action has been taken to stop the encroachment. He said the Development Control officials once visited the property and ordered Eselemo to halt construction, but the order was ignored. “Even when I reported to the police, he refused to honour their invitations and instead sent his lawyer, who insulted the officers,” he said.

Matters took a troubling turn on July 11 when Yahaya was invited to Zone 7 Police Headquarters after Eselemo accused him of impersonating the property’s owner. “Despite presenting evidence of ownership, the police detained me,” Yahaya claimed. “My lawyer was denied access to the complainant, and I was only released after producing sureties and paying money.”

Yahaya further alleged that during a follow-up visit on July 14, officers again threatened him with detention if he failed to produce property documents, which he said were at home. “The IPO and two other officers, who never wore uniforms, demanded money before I was allowed to go,” he said.

He claimed that when police at his request locked the premises to halt further construction, Eselemo returned the same night with his CSO, broke the padlock, and continued building. “It’s like the police are helping him,” Yahaya said. “The officers I reported to are now enabling him.”

Fearing for his safety, Yahaya has appealed to the Inspector General of Police for urgent intervention. “Barrister Faye has sworn to frustrate me because I refused to sell the house to his client. Now, they’ve taken over my property and are collecting rent from tenants as if I don’t exist,” he said.

He said tenants on the property have since confessed that Eselemo presented himself as the landlord and provided rent receipts, which Yahaya claims are now in his possession.

As concerns mount, legal professionals are warning about the broader implications. “If a tenant can weaponize police authority to detain a landlord, we’re staring at a breakdown of the legal process,” said Abuja-based lawyer Usman Yusuf. “The Inspector General must step in. This case is no longer civil—it’s a clear abuse of law enforcement power.”

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Vincent Uba, the tenant, made the appeal through his legal representative, Ogedi Ogu, requesting an immediate investigation into the alleged intimidation, harassment, and disruption of residence at 5, Association Avenue, Ilupeju.

According to the petition, events escalated on May 28, 2025, when an individual claiming ownership of the building reportedly entered the premises without prior notice, damaged the property’s gates, and blocked all access points by offloading truckloads of sand, effectively trapping residents inside and outside the compound.

The lawyer alleged that efforts to reach the purported new owner during the standoff were unsuccessful. He also claimed that police officers were involved in the operation, acting on a petition reportedly submitted by the Oyo State Ministry of Justice and the said buyer, demanding vacant possession of the property.

Ogu said two tenants were taken in for questioning by the police and were only released after posting bail. “They were treated like criminals,” he added, noting the psychological toll the incident had on his client, who also runs a business on the premises.

He further reported that upon Uba’s return from the police station, he found the gates forcibly broken and heaps of sand dumped at the building’s entrances, worsening the disruption.

In a related development, Justice Chukwujekwu Aneke of the Federal High Court has issued an order directing all parties involved in the dispute to maintain the status quo. The interim ruling came in response to a suit filed by Uba, who is seeking to enforce his fundamental human rights and restrain further interference until the court has heard and determined the substantive application.

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The flood, which displaced thousands of residents and destroyed properties worth millions of naira, led to a heated argument between landlord Moses Tegwolo and his tenant, Ahmed Isah, over who should bear the cost of repairs. The dispute began when Isah insisted that Tegwolo, as the landlord, should be responsible for fixing the damages caused by the flood.

Tegwolo, however, argued that the flooding was a natural disaster beyond his control, stating that he too had been affected by it.

“I was also hit by the flood and haven’t even repaired my side of the property yet. How can he expect me to be fully responsible for the damage? If he repairs it, he wants to deduct the cost from his rent, which I don’t agree with,” Tegwolo said.

READ ALSO: We’re dying, stop property demolition, landlords, residents beg Makinde

The tenant, Ahmed Isah, expressed frustration, recounting that he had already spent a significant amount of money fixing the apartment when he moved in. “I painted the room, repaired broken parts of the floor, and fixed the window. None of this was deducted from my rent. Now, after the flood, I am expected to fix the damaged floor, walls, and doors as well,” Isah stated.

READ ALSO: Landlord Dies After Argument With Tenant Over Unpaid Rent in Ogun State

After a lengthy verbal exchange, Tegwolo proposed bringing in a bricklayer to assess the damage and share the repair costs by percentage, a suggestion Isah eventually agreed to. “Since he has agreed to a percentage split, no problem. I just hope the division is fair, because things are tough,” Isah said.

READ ALSO: Thousands Ordered to Evacuate Amid Severe Flooding in Central Japan

Following the intervention of other tenants in the compound, both parties settled the dispute and agreed on a fair percentage division of the repair costs.

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lice by the daughter of the deceased, Precious Apeh, at about 5.00 pm on Monday, according to a statement issued by the Police Public Relations Officer, SP Omolola Odutola, on Tuesday.

According to Odutola, the argument between Apeh and his tenant occurred at 7:20 pm on Saturday over unpaid house rent. Precious Apeh informed the police that at around 6:30 am on Sunday, she heard her father arguing with the tenant in front of their house, where the tenant threatened to kill him.

READ ALSO: House of Representatives Calls for Regulation of House Rents and Landlord Activities in Abuja

“During the argument, Apeh collapsed and was rushed to NNPC Hospital, Mosimi but was later confirmed dead by the attending doctor.

“The suspect fled the scene, but efforts are underway to apprehend him.

READ ALSO: Landlord Faces Charges for Cutting Off Tenant’s Electricity and Water

“Detectives led by SP Temitope Fapohunda visited the scene, took photographs, and further updates will be communicated,” Odutola said.

The PPRO noted that an investigation had commenced on the case, and the deceased was deposited at Olabisi Onabanjo University Teaching Hospital (OOUTH) Morgue, Sagamu.

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The rent for his one-room apartment on Moshalashi Road, Egan, Igando area of Lagos State, was reportedly raised from N35,000 to N60,000 annually.

According to a source who spoke on the condition of anonymity, Baale had been under pressure over the rent increase and had an altercation with his wife after receiving the quit notice.

He reportedly expressed his despair to his wife, indicating that she would soon mourn his death due to his inability to pay the rent.

READ ALSO: Lagos State to Introduce Monthly Rental Scheme by End of 2024

The tragic incident occurred on Sunday night when Baale, after returning from a gathering with friends in Iba, consumed a poisonous substance suspected to be an insecticide.

A young man who was present at the scene managed to stop him and called for help. Despite efforts to save him, Baale was pronounced dead upon arrival at the hospital.

Baale is survived by his wife and four children.

READ ALSO: Court Cases Surge as Tenants Struggle to Pay Rent Amid Economic Hardship

The wife declined to comment when contacted, and the Lagos State Police Command is yet to receive an official report on the incident.

The circumstances surrounding Baale’s death highlight the challenges faced by many Nigerians in meeting their basic housing needs, particularly in urban areas where rent prices are on the rise.

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This impact is, in more ways defining the economy of the sector in the first quarter of 2024 as more renters groan under the weight of price increase in the real estate market forcing individuals, households and businesses to face uncertainty.

The meteoric rise in foreign exchange rate to N1450/$ was a major negative development for the real estate sector as it affected supply chain significantly and price of reinforcements have also forced contractors and property buyers to renegotiate the bids of contractual agreement.

Most affected are individuals and households living in rented accommodation who are now groaning under the weight of rent increases, especially at city suburbs where tenants are contending with over 50 per cent rise in the past one year.

This is even as the combined forces of exchange rate, galloping inflation, volatile exchange rate, naira devaluation and the removal of petrol subsidy has seen commodity prices shooting in rooftops.

Some tenants who spoke to LEADERSHIP  had almost similar stories to tell of how their landlords have increased their rents significantly, citing rising building material prices, inflation, and cost of maintaining the houses.

READ ALSO: Former NBRRI CEO Urges Nigeria: Embrace Local Materials to Tackle Soaring Housing Costs

Undoubtedly, the price of cement is fast rising to N7,000 as well as a hike in price of other building materials in the construction business sector. This is forcing property developers to reduce construction activities by more than 50 per cent as more sectorial businesses  continue to suffer more price shocks within the haemorrhaging economy.

Besides disposable income, which has gone down considerably, prices of building materials, especially cement and reinforcement (rods), have increased by 70 percent. These are products of the current economic disruptions.

Checks by  LEADERSHIP revealed that rental fee source is a top discussion in commercial offices, warehouse, short term, hospitality and service apartments triggered  by weak market transactions, volatility of the FX market that is struggling within the grappling economy.

Similarly, there has been increases in the prices of other building materials, especially rods, also called reinforcement. 8mm rod previously sold at N255,000 per tonne is now N518,000; 10mm that was sold for N442,000 now goes for N520,000, while 12mm and 16mm rods that sold for N446 is now N515,000. The 20mm and 25mm earlier sold for N442,000 now command N530,000 price, depending on location.

The price of paint, another major building component, has also gone up. The price of a 20-litre container has increased from N8,000 to between N10,900 and N35,000, depending on the brand and location, while retailers and distributors sell for between N12,500 and N45,000.

Speaking in a Media chat, former Redan Auditor, Southwest, Emmanuel Oyelowo hinted that, “With this scenario of consuming FX market, price volatility and spiral inflation, many homeowners will witness a surge in rent defaults under their management with zero payment default. We believe that the rental market is viable, but landlords will feel the impact of the current market slowdown if they don’t innovate.”

Also speaking, the managing director of PWAN Group, Frederick Okpaje explained that tenants are the worst hit as rents are rising almost on a monthly basis, adding that, new houses are not coming to the market as expected, and landlords are now taking advantage of this situation and jacking up their rents to a point that unsettles most tenants, especially, those in the cities,” he enthused.

Commenting on the development, one of the house occupants around Ogba area in Lagos, Mr. Segun Odubanwo said, he  paid  N1 million for the three-bedroom apartment that he lives in. “My rent was due January this year and my landlord told me his house was no longer for N1 million and now N1.2M. This is coming just less than one year I packed into the house. When I asked him why; he told me the cost of maintaining the housing has more than doubled because building material prices and labour cost have gone up,” he said.

Reacting, Economic Consultant and Chief executive director of Centre for the Promotion of Private Enterprise, (CPPE) Dr. Muda Yusuf urged the CBN to address price inflation and put proper regulations in appropriate sector of the economy,

He suggested a reform of the foreign exchange market adding that this would reduce volatility and stimulate forex inflows.

He however cited the need to Address forex liquidity issues through appropriate policy measures by Fixing the structural problems to boost the productivity and competitiveness of domestic firms.

He also addressed the challenges of high transportation and logistics costs stating that this would bring restoration of normalcy and good order at the ports of the nation to reduce transaction costs.

He stressed the need to reduce import duty on intermediate products and raw materials for industries to reduce production costs, especially, in the light of the sharp depreciation in the exchange rate.

Source: Ledership

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Several Democratic senators urged the Federal Reserve on Sunday to cut interest rates, which they argue have “aggravated the country’s persistent crisis of housing access and affordability.”

In a letter to Fed Chair Jerome Powell, Sens. Elizabeth Warren (D-Mass.), John Hickenlooper (D-Colo.), Jacky Rosen (D-Nev.) and Sheldon Whitehouse (D-R.I.) said the central bank’s decision to rapidly raise rates has resulted in higher costs for homebuyers and renters, as well as a lack of new construction.

“As the Fed weighs its next steps in the new year, we urge you to consider the effects of your interest rate decisions on the housing market and to reverse the troubling rate hikes that have put affordable housing out of reach for too many,” the group wrote in Sunday’s letter.

The Fed repeatedly raised interest rates throughout 2022 and 2023 to tame inflation, which peaked at a 40-year high of 9.1 percent in June 2022. 

Inflation has since cooled significantly, with consumer prices up just 3.4 percent year-over-year in December, and the central bank has held off on further rate hikes at its last three consecutive meetings. 

READ ALSO: Lagos Goes Tough On Buildings Without Town Planning Permit

While the Democratic senators acknowledged the Fed’s decision to hold rates steady in recent months, they warned that “interest rates are still too high for many American families, who already cannot afford to pay rent or buy their first homes.”

Mortgage rates, which tend to follow interest rates, have climbed over the past two years. In late October, the average 30-year fixed mortgage rate rose to nearly 8 percent, marking a two-decade high. It has since fallen to an average of 6.69 percent.

Higher mortgage rates have led to higher costs for homeowners and deterred prospective first-time homebuyers, who remain in the rental market, the senators noted.

However, they suggested that high interest rates have also translated into higher rental costs, as landlords pass off the costs of higher mortgage rates onto their tenants.

READ ALSO: Inflation And Exchange Rate Spikes Ignite Borrowing In The Real Estate Sector

The Democratic senators also warned that this lack of housing affordability “places a disparate burden on the shoulders of Black and Hispanic households.”

The Fed panel responsible for deciding monetary policy is set to meet later this week. While it is largely expected to hold rates steady at its January meeting, most Fed officials said in December that they expect at least two rate cuts in 2024.

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A dispute between a tenant and his landlord led to a significant legal development at the Kabusa Grade I Area Court in Abuja. Chris Okoye, a 44-year-old tenant residing at 2A Niger Avenue Villa Nova, Apo, faced charges of criminal conspiracy, intimidation, force, assault, and causing injury following an altercation with his landlord.

READ ALSO: Lagos targets 60 days for landlord-tenant dispute resolution

Despite pleading not guilty, the prosecutor, O.S. Osho, outlined a report from the landlord, Mr. Ochengele Isaac, filed at the Apo Police Station on Jan. 3. The report alleged that Okoye, along with his two children and an individual named Gideon, had assaulted and caused harm to the landlord.

While Okoye’s children and Gideon were reported as evading arrest, the presiding judge, Malam Abubakar Sadiq, ordered Okoye’s remand in custody pending further proceedings. The case is scheduled for continuation on Jan. 16.

Source: Tribune

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Searching for accommodation in Nigeria is one of the most difficult things one can do. It is fraught with so many risks, you have to deal with multiple viewings of apartments and houses which do not live up to what you have been promised (or shown in pictures), dealing with multiple agents who seem like they are trying to pull a fast one on you, dealing with multiple unexplained fees etc. So, when you finally find the place of your dreams, you need to be sure that your rights are protected, and that is why we have written this article – to list out a few of the rights you are entitled to as a tenant in Nigeria. The first step to protecting your rights as a tenant in Nigeria is to know your rights:

READ ALSO: Falling of Naira: Nigeria’s Real Estate Value drops by 10%,Expert Warns

1. Right to receipt of payment – Once you pay your rent, you are entitled to be issued with a receipt of payment by your landlord. The receipt should include, the amount paid, the location of the property, and the duration of the tenancy. In fact, failure to issue a receipt of payment is an offence in Lagos under the Lagos Tenancy Law and there is a penalty of N100k for landlords who fail to issue it.
2. Right to exclusive possession – once you become a lawful tenant, in the eyes of the law the place is solely yours for the period of the tenancy – you have something called ‘exclusive possession’. Exclusive possession is the right to use premises to the exclusion of all others, including the landlord himself. What this means is that the landlord will need your permission to enter the house or apartment, if anyone was to try to enter the premises without your consent, this would amount to trespass.
3. Right to Notice to Quit before eviction – As a tenant you are entitled to be given notice before you are evicted from your premises. The notice varies based on the type of tenancy agreement you have – weekly tenants are entitled to a week’s notice, monthly tenants are entitled to 2 weeks’ notice, yearly tenants are entitled to 6 months’ notice. However, in Lagos, if you have a fixed tenancy, the landlord does not have to serve you a notice to quit once the tenancy expires, this is because the Lagos Tenancy Law presumes that you are aware of when your tenancy is due to expire and so no notice is required.

4. Right to 7 days’ Notice to Recover Possession – Apart from the notice to quit, all tenants are entitled to receive 7 days’ notice to recover possession, this is issued by a landlord only after a validly issued notice to quit has expired. This is a critical part of the eviction process, and therefore if this is not issued, the landlord cannot bring an action for eviction.
5. Right to habitable premises – As a tenant you are entitled to live in habitable premises, and so if for any reason during the course of your tenancy the premises becomes inhabitable e.g. due to flooding, or damaging to some essential utilities, you can request that the landlord put the premises in a habitable state, if he/she refuses you are entitled to end the tenancy and demand a refund of your rent.

The Most Important Protection:

A Tenancy Agreement As a tenant, you are entitled to request from your landlord that you have a written tenancy agreement. A tenancy agreement is an important document because it basically outlines the terms of your tenancy in the property, in fact one could argue that this is the most important right of every tenant. Landlords can refuse to issue a tenancy agreement, but if your landlord does not give you one, then you should be very wary. In tenancy agreements of over 3 years, it is mandatory that the agreement be in writing.

Unfortunately, even when the landlord issues a tenancy agreement, most tenants just sign the documents without reviewing it properly. Ideally this agreement should be reviewed by a legal expert.

Source: Lawpadi

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