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Nigerian Tax Act 2025, A Landmark Legislation: ESV Abiodun
Stephen Olufemi Oni, Ilorin
The Nigerian Tax Act 2025 has been described as a landmark legislation that promises to bring about significant changes aimed at boosting government revenue and promoting transparency in the real estate sector.
ESV Babatunde Folarin Abiodun, who stated this in a statement, said: “As stakeholders prepare to navigate the gains and pains of this new tax regime, it is essential to understand the implications and chart a path forward for the future of real estate in the country.
“One of the key gains of the Nigerian Tax Act 2025 is the increased transparency it mandates in property transactions. By requiring strict reporting and documentation for property sales, the Act aims to curb informal transactions and enhance investor confidence in the market.
“This move towards a more formal and transparent real estate sector is expected to create new revenue streams for the government, including Capital Gains Tax, Withholding Tax, and Value Added Tax on real estate services.”
In addition to promoting transparency, Abiodun noted, the Act would also pave way for digitalization in tax reporting and property data, adding that this shift towards digital platforms is set to reduce corruption and simplify the process of verifying ownership and transaction history.
He added: “Moreover, developers stand to benefit from tax incentives for affordable housing and urban renewal projects, encouraging them to take part in addressing the housing deficit in the country.
“However, amidst these gains, there are potential pains that stakeholders must be prepared to address. The new tax regime could lead to higher transaction costs, which may, in turn, drive up property prices. Property owners, developers, and agents will also face a compliance burden with new reporting obligations and tax requirements. Additionally, the increase in Capital Gains Tax rates for companies from 10% to 30% and the impact of Withholding Tax on rental income could pose challenges for individuals and landlords in the rental market.
“As the industry grapples with these challenges, effective implementation and stakeholder engagement will be critical to the success of the Nigerian Tax Act 2025. Collaboration between the government and industry players will be essential in navigating the complexities of this new tax regime and ensuring a smooth transition towards a more transparent and sustainable real estate sector in Nigeria.
“The Nigerian Tax Act 2025 represents a significant step towards transforming the real estate sector in the country. While there may be challenges along the way, the gains of increased transparency and digitalization offer a promising outlook for the future of real estate in Nigeria.
“With proactive engagement and collaboration, stakeholders can work together to capitalize on the opportunities presented by this groundbreaking legislation and pave the way for a more vibrant and resilient real estate industry in the years to come.”
End
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Senator Mustapha Gives Scholarships To 300 Varsity Students
Stephen Olufemi Oni, Ilorin
The Senator, representing Kwara Central Senatorial District on the National Assembly, Mallam Saliu Mustapha, has awarded scholarships worth N300 million to 300 indigent but brilliant students of his district.
According to the Senator, the gesture, being an improvement on last year’s event when the Senator facilitated a sum of N200 million worth of scholarships for the students of the District, would reduce the illiteracy level in the area and boost the competences of their youths in Western Education.
Saliu, who spoke at the annual scholarship event in Ilorin, the Kwara State capital, assured his people that, investment in educational development would continue to be sustained as one of his legacies as a law maker, adding that high educational society would never breed banditry and other social . menaces threatening the peace of the nation.
He said: “This initiative by me and to my knowledge is the first of its kind in the state. My aim is to use it to break the financial barrier bedeviling our society and to promote smooth access to quality higher education among brilliant but less privileged children in my District and beyond.
“The annual scholarship programme we launched last year with 200 beneficiaries, has now expanded its reach, under my unrelenting commitment to human capital development and youth empowerment.”
The Chairman of the Scholarship Committee, Prof. Binta Sulyman, announced prompt payment of tuition fees to the beneficiaries in compliance with the rules and regulations of the designated higher institutions.
She emphasised that the scheme is strictly merit-based, stating that every recipient who scored 250 and above in the JAMB UTME, was selected from across the four Local Government Areas (LGAs) of Kwara Central, representing the District. These are; Ilorin-West, Ilorin-East, Ilorin -South and Asa LGAs.
According to her, the scholarship would cover the tuition fees of the recipients from first year to final year, but with a caveat that such tertiary institutions must be based in Kwara state.
“The goal is to create equal opportunities. These students have shown academic excellence, and we are determined to ensure that dearth of finances do not hinder their dreams,” Prof. Sulyman said.
She urged the beneficiaries to remain focused, excel academically, and justify the investment made in their future.
The Secretary of the Committee, Comrade Yakub Ishowo, disclosed that the beneficiaries are already students of institutions such as the University of Ilorin, Kwara State University, Malete, Kwara State University of Education, Ilorin and the University of Offa.
Besides, Ishowo added that a monitoring framework has been established to track their academic performances throughout their studies.
Some of the parents of the beneficiaries at the epoch making event, praised Senator Mustapha for the gesture, describing it as a life-changing intervention that would ease their economic burden on the educational pursuits of their children.
According to Sheikh Usman AbdulRahman Yasin, who spoke on behalf of the parents, many families would not have been able to afford university tuitions due to the prevailing global economic recession.
“We pray for divine guidance and blessings upon Senator Mustapha for remembering the less privileged. This scholarship has brought relief to our homes,” the Islamic scholar said.
Besides, he commended the merit-driven selection process, noting that it rewarded hard work and renewed a brighter hope across the community.
Representing the beneficiaries, Amirah Suleiman and AbdulAzeem Muhammed expressed joy and appreciation to the Senator, promising not to disappoint the Senator or their families while living out the scholarships.
They said the opportunity would go a long way in shaping their future.
End
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Sharia Law Is Non-Negotiable Despite U.S. Pressure — Buhari Yusuf
By: Fabian Apechihin
Constitutional lawyer and public affairs analyst, Barrister Buhari Yusuf, has raised concerns over what he described as increasing international pressure on Nigeria regarding the enforcement of Sharia law in northern states.
Speaking in a December 7, 2025 interview with TrustTV News, Yusuf criticised attempts by the United States to influence Nigeria’s legal and religious systems, insisting that Sharia law remains an internal constitutional matter beyond foreign interference.
He argued that while foreign countries are free to express their opinions, decisions on Sharia must be guided strictly by Nigeria’s constitution and cultural realities.
“We reacted hastily; more than eight states have been designated, but this was kept out of the media. Suddenly, Nigerians began sending messages and now the U.S. is trying to dictate terms to us, which is unreasonable. They can demand whatever they like, but Sharia is non-negotiable,” Yusuf said.
His comments follow renewed calls from the U.S. Congress urging Nigeria to abolish Sharia criminal law in 12 northern states and dismantle the Hisbah religious enforcement agencies.
The U.S. Commission on International Religious Freedom (USCIRF) has also listed Nigeria as a Country of Particular Concern (CPC), citing alleged systematic attacks on Christian communities, widespread killings, and strict blasphemy laws that limit freedom of worship for both Christians and Muslims.
In response to Nigeria’s CPC designation, U.S. President Donald Trump reportedly warned of possible punitive measures, including the suspension of aid and potential military intervention, if the Nigerian government fails to curb the violence.
During a briefing at the U.S. House of Representatives, Dr. Ebenezer Obadare, Senior Fellow at the Council on Foreign Relations, stated that extremist groups such as Boko Haram and ISWAP exploit Sharia structures to enforce ideological conformity, carry out forced conversions, and operate with near impunity. He proposed stronger military cooperation with Nigeria and increased pressure on President Bola Tinubu to repeal Sharia law and disband Hisbah groups.
However, Yusuf maintained that regardless of foreign influence, Nigeria’s sovereignty over its legal and religious affairs must not be compromised.
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CBN Approves 82 New BDC Licences Under Fresh Regulatory Framework
By: Fabian Apechihin
The Central Bank of Nigeria (CBN) has granted fresh operating licences to 82 Bureaux De Change (BDCs) as part of its ongoing efforts to restructure and sanitise the retail foreign exchange market.
The approvals, which took effect from November 27, were confirmed on Monday in Abuja by the Acting Director of Corporate Communications at the CBN, Mrs. Hakama Sidi-Ali. She said the licences were issued under the powers conferred on the apex bank by the Banks and Other Financial Institutions Act (BOFIA) 2020 and in line with the 2024 Regulatory and Supervisory Guidelines for BDC Operations in Nigeria.
Sidi-Ali emphasised that only BDCs whose names appear on the CBN’s official website are authorised to operate under the new regime.
“Only BDCs listed on the Bank’s website are authorised to operate from the effective date,” she said, adding that the online register would be updated regularly for public verification.
She further warned Nigerians against engaging with black market dealers or unlicensed operators, noting that running a BDC without CBN approval is a criminal offence.
According to her, operating without a valid licence attracts sanctions under Section 57(1) of BOFIA 2020.
Nigeria’s BDC sector has undergone significant reforms in the past year. At its peak, about 5,690 operators were registered nationwide. However, on March 1, 2024, the CBN revoked the licences of 4,173 BDCs for regulatory breaches, leaving about 1,517 in good standing.
The approval of the new 82 operators is viewed as part of the apex bank’s broader strategy to consolidate the sector, strengthen supervision and enforce stricter compliance with the new FX market rules. The CBN advised the public to always confirm the licensing status of any BDC on its website before conducting foreign exchange transactions.
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