By Maduka Nweke
Brazilian real estate mogul, Angelo Macruna, has urged Nigerian state governments to revisit the structure of taxes and fees in the proposed fiscal reforms, particularly those affecting the housing sector, in order to make accommodation more accessible and affordable for the average citizen.
Macruna, speaking at a recent stakeholders’ forum on housing and taxation, said that unless stamp duties and related charges on property registration are reduced, the government’s broader objective of making housing affordable will remain elusive.
“The government’s plan to reduce rent and make housing more affordable cannot be achieved if the cost of documents like stamp duties is not significantly lowered,” Macruna warned. “Life cannot be meaningful if, after a hard day’s work, a person has no decent place to rest their head.”
He emphasized that ensuring every resident in densely populated cities like Lagos has access to registered accommodation could play a critical role in curbing urban crime and other social vices. “Government efforts cannot be effective if housing investments do not reach the most vulnerable in our cities,” he added.
Macruna further noted that providing secure housing has broader social implications beyond shelter. “When people are anxious, stressed, and uncertain about where they’ll sleep at night, it creates fear and hopelessness—conditions that often fuel criminal activity,” he said, urging state governments to prioritize policies that consider the needs of low-income groups.
His remarks come against the backdrop of Nigeria’s evolving tax reform agenda, which includes measures aimed at easing financial burdens on ordinary citizens. The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, recently disclosed that under the new reform bills currently before the National Assembly, rental properties valued under N10 million will be exempt from stamp duties.
Speaking at the Building and Construction Industry Forum in Abuja—tagged “Nigeria’s Tax Reforms and the Building and Construction Industry: Implications and Opportunities”—Oyedele explained that the reforms are designed to enhance fairness, transparency, and equity in tax administration, especially for low- and middle-income earners.
“What we have done in the reform bills is to make them very clear so there is no debate. Also, we have added that there will be a stamp duty exemption for rents that are below N10 million,” Oyedele said.
He clarified that the exemption is intended to benefit the majority of Nigerians, many of whom rent rather than own homes. “So if you’re paying rent, which is what many people will do because they don’t own a house, you won’t have to pay stamp duties—unless you’re a wealthy individual paying a large amount. It’s not about punishing the rich, but about acknowledging that they have a greater capacity to pay,” he explained.
Further outlining the proposed changes, Oyedele added, “Capital gains tax is exempted on the sale of your dwelling house. Withholding tax on construction will now be capped at two per cent, which is a significant reduction.”
Housing advocates have welcomed these reforms but are calling for further steps to encourage affordable housing development.
Festus Adebayo, Executive Director of the Housing Development Advocacy Network, urged the tax committee to incorporate incentives for developers who focus on low-cost housing.
“Since the tax reform is still under legislative review, the committee should consider introducing tax rebates or other incentives to motivate developers to invest in affordable housing. Many estate developers are struggling with excessive rents and regulatory fees in several locations,” Adebayo said.
Also weighing in, the Managing Director of Urban Shelter, Sa’adiya Aliyu-Aminu, stressed that proper taxation is a cornerstone of sustainable national development. “Sound tax policy will reduce our over-reliance on oil, improve government accountability, and make the housing and construction sectors more appealing to both local and foreign investors,” she said.
Chairman of the Council of Registered Builders of Nigeria (CORBON), Samson Opaluwah, said the forum was convened to deliberate on how the proposed tax reforms could unlock new growth opportunities in the construction sector and create a more enabling environment for housing delivery across the country.