NewStats: 3,259,328 , 8,169,822 topics. Date: Saturday, 24 May 2025 at 05:31 PM 622222

The Minister of the Federal Capital Territory, Nyesom Wike, has approved a draft property tax regulation for the city.

The development means that property owners in Abuja would start paying property taxes.

The FCT-Internal Revenue Service is said to have commenced the implementation of Capital Gains Tax in the FCT, as stipulated in the Capital Gains Tax Act 2004.

The Capital Gains Tax mandates the payment of ten per cent tax on the total amount of chargeable gains accruing to any person on the disposal of chargeable assets in a year of assessment.

Haruna Abdullahi, the Executive Chairman, FCT-IRS, made this disclosure when he spoke to journalists in Abuja on Sunday.

Abdullahi said the minister had approved some key initiatives to drive revenue for the FCT.

He said, “In the last three weeks, the minister has approved some initiatives that are huge and will certainly change the dynamics in of the bottom line. Just the other day, we submitted a draft proposal to the minister for the FCT property tax regulation.

“The FCT-IRS Act empowers the minister to come up with a property tax regulation for the FCT. So we had a long conversation and we suggested it to the minister, and he asked us to come up with a draft regulation, which we did, and he has approved the initiative.

“So we have an inter-agency collaboration whereby we review it because the draft was just done by the FCT-IRS, but that’s not enough, you need other stakeholders. So he approved the initiative to go ahead and review the draft and then come back.

“Subsequently at the end of the day, he will sign the regulation and is gazetted and implemented. So that alone should tell you that there is a huge positive impact on the bottom line of the IGR in the city.”

https://.ng/2023/11/13/wike-approves-property-tax-in-abuja/

Fulani and Hausa mafias dey plan for Wike as he dey do anyhow

They will revenge


Oga Wike softly softly, Abuja no be Rivers


.

Bliss62:


Fulani and Hausa mafias dey plan for Wike as he dey do anyhow

They will revenge

.

Wike the wicked one with the of the god of Politics Emilokan Asiwaju Tinubu will crush any group of idiots ganging up against the government

Dead on arrival... It's a good tax tho.. Especially for those empty houses in Abuja with no occupants, maybe this will drag down the price of houses in Abuja if people fill those empty houses, because I see no reason why someone should be paying taxes in those big houses like 20 a year with no one staying in it.

StreetFight:


Wike the wicked one with the of the god of Politics Emilokan Asiwaju Tinubu will crush any group of idiots ganging up against the government

Make e Sha do softly and calm down

Bliss62:


Fulani and Hausa mafias dey plan for Wike as he dey do anyhow

They will revenge

.

Which mafia? See this fear fear

BTW, Abuja is not an Hausa/Fulani 'owned' state.

Nye-rishi

It will triple the FCT IGR because many netizens are more interested in IGR competition than improving the lives of the people.

Bliss62:




Fulani and Hausa mafias dey plan for Wike as he dey do anyhow

They will revenge



.

They will pay the Tax

Rich men should pay more tax than the poor/ average. Provided it does not affect the house rents for the poor/ average.

Toh

Finally property tax

0.5% value of house and 15% capital gain tax on real estate is way to go

But I hope I sure hope the government is ready to give the middle class value for tax

Middle class can't be bribed ooh and they can't be intimidated ooh and they are more United across tribe and religion

They are not like poor Nigerians that have been voting since 1999

Wilsonian77:
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ED.

As usual only southerners will be forced to pay , I know no Hausa Fulani will pay zilch

masseratti:
Dead on arrival... It's a good tax tho.. Especially for those empty houses in Abuja with no occupants, maybe this will drag down the price of houses in Abuja if people fill those empty houses, because I see no reason why someone should be paying taxes in those big houses like 20 a year with no one staying in it.

Capital gains is a tax on the profit you make when you sell a property

If you buy for 10 million and sell for 20 the profit is taxed
this particular tax dues not apply to empty buildings

Nigerians are tricky they will find a way to declare selling at less than what they paid when buying

Gajagojo:
Capital gains is a tax on the profit you make when you sell a property

If you buy for 10 million and sell for 20 the profit is taxed
this particular tax dues not apply to empty buildings

Nigerians are tricky they will find a way to declare selling at less than what they paid when buying

oh thanks for the info... Guess I learn something today tho.. Thanks.

K

Ahhhhhhhhhhhhhhhhhhhhhhhhhhhhh
That’s not it oh abeg
Ahhhhhhhhhhhhhhhhhhhhhhhh

Okay.

So all these years, they don't pay property tax in Abuja
So much gaps in the system and this is why Asiwaju Tinubu ran for this office, to solve these problems. May God grant Asiwaju Tinubu tremendous success. God bless Nigeria for ever! Check my signature for free stuffs!

Lord Wike himself! 👏

This guy is playing Tinubu’s script. Una go soon start to Dey pay for Oxygen. I don’t have a problem with paying property tax which is the right thing g to do, but my problem is how effective will it be utilized.

Fake news from IPOB media
This tax Levy is only for obideints and we are teaching Peter Obi and obideints a hard lesson

Very good...
All man must pay...the big men in Nigeria na them get 80% of Abuja real estate

Well. D issue is that sensible Nigerians does not trust dis govt of propaganda and failure, if not tax is one of d ways to generate money

hmmm

victorclean:
Rich men should pay more tax than the poor/ average. Provided it does affect the house rents for the poor/ average.

It will always trickle down to the poor/average.