Nigeria Tax Act 2025 Clarifies No 25% Tax on Construction Materials
The Presidential Fiscal Policy and Tax Reforms Committee has clarified that Nigeria's Tax Act 2025 does not impose a 25% levy on building materials, construction funds, or bank transactions as claimed by former Minister Rotimi Amaechi in a viral video. The committee stated the Act, effective January 1, 2026, aims to lower housing costs and stimulate real estate development through targeted tax reliefs rather than increase financial burdens.