The Nigeria Revenue Service has dismissed reports claiming the Nigeria Tax Act 2025 imposes a 25 percent tax nationwide today.
The Service said the Act has already commenced and introduces no new tax on building materials or housing funds either.
Officials explained the law aims to reduce housing costs and stimulate investment in construction and real estate across the country.
Key provisions include VAT exemptions on eligible properties and construction inputs under clearly defined conditions nationwide for approved projects only.
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Mortgage interest relief allows homeowners deduct interest expenses, improving access to affordable housing and long term ownership for many families.
The Act also offers incentives for developers and institutional investors, including exemptions for qualifying real estate trusts and funds nationwide.
NRS urged the public to ignore misinformation and rely only on verified updates from official government channels for accurate guidance.
