By Nigeria — The Nigeria Revenue Service (NRS) announced today that the Nigeria Tax Act 2025 has officially commenced and does not impose a 25% tax on building materials, construction funds, or related transactions. The announcement was issued through a public notice to correct misleading information circulating online.
The notice addressed a recent video claiming that the Tax Act would take effect in 2027 and that a 25% tax would be applied to building materials and construction projects. According to the NRS, these claims are false and have caused confusion among investors and the general public.
The Service clarified that the Nigeria Tax Act 2025 is intended to reduce the cost of housing, encourage investment in the real estate and construction sectors, and stimulate broader economic participation. It provides measures designed to improve housing affordability, support developers, and facilitate financing for housing projects, without introducing any additional taxes on building materials or construction funds.
The NRS further warned the public to disregard unverified claims and rely only on official announcements from government channels. The Service stated that it remains committed to ensuring transparency, supporting investment in the housing sector, and implementing the Tax Act in a way that protects public interest and strengthens the economy.
