Lagos State's Tax Reform to Transform Real Estate by 2026

The Lagos State government is set to implement a new tax reform on January 1, 2026, which will significantly impact the construction and real estate sectors. Mr. Moruf Akinderu-Fatai, the Lagos State Commissioner for Housing, emphasized that this reform is designed to strengthen fiscal sustainability, improve compliance, and enhance risk management while aligning Nigeria's regulatory environment with global best practices.

The reform will address taxation at various stages of the value chain, including land acquisition, development approvals, construction inputs, corporate income, value-added tax, capital gains, and property transactions. The initiative aims to clarify and coordinate tax obligations across different governmental tiers.

Mr. Abimbola Olashor, President of the NBCC, highlighted the theme of navigating reforms to drive resilience in Nigeria's construction and real estate sectors as they approach 2026, reflecting the significant fiscal and regulatory changes underway.