President Bola Tinubu, through his representative at the Nigerian Institute of Estate Surveyors and Valuers (NIESV) 55th Annual Conference, clarified that the administration’s recent economic policies are not designed to punish citizens but to avert a total collapse of the economy. Speaking at the event in Abuja, the president stressed that reforming Nigeria’s tax and fiscal policies was a bold but necessary move aimed at diversifying revenue sources, promoting transparency, and creating a more investment-friendly environment—particularly within the real estate sector.
The conference, themed “Transform, Invest, Drive: Optimising Real Estate Finance and Taxation,” convened stakeholders to examine the alignment of fiscal policy with the real estate industry. The Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji, emphasized the importance of better assessing the real estate sector to boost revenue. He highlighted ongoing challenges such as informal markets and inconsistent property valuation practices, which the new Tax Administration Bill aims to address by enhancing compliance and minimizing inefficiencies.
NIESV President, Victor Alonge, described the conference as a pivotal step toward advancing national infrastructure and housing policies. He pledged that the institute would submit a detailed communiqué to the government, summarizing key resolutions and practical policy recommendations from the conference. The administration also reiterated its openness to collaboration with professional bodies to ensure fair tax implementation and better revenue utilization.
