Tax cuts sparking a housing boom? NIESV President Victor Alonge says Nigeria’s fresh reforms kick in Jan. 1, 2026, slashing burdens on construction and making homes more reachable.
Alonge shared the optimism Tuesday at a Lagos presser during QShelter Ltd and M.I. Okoro & Associates’ MoU signing to market Renewed Hope Housing in Abuja, Kano, and Lagos Coastal Road. “The new tax law is actually a positive thing for real estate,” he beamed, noting exemptions for small builders and informal sectors—mirroring advanced economies.
VAT lifts off low-end construction, while big firms offset material costs via incentives and local sourcing. “Savings will beef up mortgages and housing access,” Alonge added, plus 90% of workers dodge taxes with higher thresholds huge for the masses.
QShelter COO Adegbenga Alamu piled on: Mortgage interest now tax-deductible, slashing borrowing costs. “Debt is cheaper and better with the new law if I have cash, I’d borrow!”
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