A university lecturer from Kaduna State University has called on estate surveyors and valuers in Kaduna State to actively promote the Federal Government's new tax policies in their professional practice.
Tax Reform Benefits for Real Estate Sector
Dr. Isuwa Dauda, a senior lecturer in the Department of Accountancy at Kaduna State University (KASU), delivered this charge during the investiture ceremony of the 16th Kaduna branch Chairman of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Ishaq Ayodeji Bello, held on Tuesday.
The academic expert described the Nigerian Tax Reform Act of 2025 as representing "the most ambitious and far-reaching restructuring of the country's tax system in decades." He emphasized that these reforms aim to create a more efficient, transparent, and equitable fiscal framework that aligns with modern economic realities.
Real Estate Market Growth and Tax Implications
Dr. Dauda highlighted the significant contribution of the real estate sector to Nigeria's economy, noting that the Nigerian real estate market was valued at USD 91.1 million in 2023 and is projected to reach USD 137.8 million by 2030, representing a compound annual growth rate of 6.1% from 2024 to 2030.
"The real estate industry constitutes a multifaceted market involving the acquisition, development, and management of residential and commercial properties," the guest lecturer explained. He detailed that this expansive sector includes residential real estate as well as commercial and industrial properties focused on business operations and manufacturing.
Compliance and Benefits for Stakeholders
Dr. Dauda stressed the importance of understanding specific areas of the Nigerian Tax Act 2025 that affect real estate practice to avoid potential compliance pitfalls. He identified rental payments, leases, property licenses, and capital gains from property sales as the most common income sources from real estate ownership.
The university don pointed out that the tax reforms signed into law on June 26, 2025, mark a transformative chapter in Nigeria's fiscal landscape. He assured that if adequately applied, the new tax regime would benefit NIESV members, their clients, and the government.
Meanwhile, the newly inaugurated NIESV Kaduna Chairman, Ishaq Ayodeji Bello, pledged in his address to prioritize member welfare and maintain ethical standards in service delivery. "Honestly, transparency and integrity will be our watchword, and as executives of this branch, we will uphold these principles," Bello committed.
