The Presidency has announced that the proposed Tax Reforms Bill will make housing more affordable for Nigerians by reducing the tax burden on construction and real estate sectors. This was revealed by Mr. Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, at the Building and Construction Industry Forum in Abuja on Thursday, April 24, 2025.

Speaking at the event organized by the Council of Registered Builders of Nigeria and Housing Development Advocacy Network, Oyedele explained the bill would exempt Value Added Tax on real estate transactions, lower construction costs and make home ownership more accessible. The forum's theme was "Nigeria's Tax Reforms and the Building and Construction Industry: Implications and Opportunities."

Key provisions of the bill include:
- Removal of VAT on land purchases, property sales and rental agreements
- Exemption from capital gains tax for primary home sales
- Priority sector incentives for local building material producers
- Streamlined property titling processes

"These reforms specifically target relief for low-income earners by eliminating multiple taxation in housing," Oyedele stated. "We're removing obstacles to make life better for Nigerians while boosting economic activity in construction."

The Minister of Housing and Urban Development, Ahmed Dangiwa, represented by Director Temitope Gbemi, confirmed the ministry's policies align with the fiscal reforms. He emphasized ongoing collaboration with tax authorities to ensure clarity and investor protection in real estate transactions.

Industry leaders welcomed the proposals, with CORBON Chairman Samson Opaluwah noting the potential to address financing challenges, while HDAN Executive Director Festus Adebayo called for additional incentives for affordable housing developers.

The Presidency urged citizens to seek accurate information through official channels rather than social media, as the bill moves toward legislative approval. Experts suggest the reforms could significantly impact Nigeria's housing deficit if implemented effectively.