An expert in Nigeria’s housing sector says multiple taxation is a significant impediment to the industry.
The Chief Executive Officer of Riel Homes, Dr Kolade Adepoju, disclosed this recently in an interview with Punch.
According to him, multiple taxation is a major problem affecting Nigeria’s housing industry, thereby increasing the housing gap.
With an estimated population of over 223 million, Nigeria’s housing deficit stood at 28 million as of 2023.
Adepoju noted that if the country deals with multiple taxation, there would be a significant reduction in the housing deficit.
He said, “If the multiplicity in taxation can be curtailed, it will reduce the deficit gap in the housing sector. When shipping at the port, multiple taxes are paid on the building materials, and many legal and illegal taxes are levelled”.