President Bola Tinubu has emphasized that the recent policy changes implemented by his administration are essential steps to prevent a complete collapse of Nigeria’s economy, not an attempt to burden Nigerians. Speaking at the 55th Annual Conference of the Nigerian Institute of Estate Surveyors and Valuers (NIESV) in Abuja on May 8, 2025, Tinubu explained that these measures are strategic actions to ensure the country’s long-term economic stability. He was represented at the event by Dr. Edna Tobi, the Special Assistant for International Cooperation and Partnership in the Ministry of Housing and Urban Development.
The conference, which gathered experts and stakeholders under the theme “Transform, Invest, Drive: Optimising Real Estate Finance and Taxation,” provided a platform for discussions on how fiscal policies affect the real estate sector. Tinubu noted that his administration’s focus is on diversifying the economy and expanding revenue sources. He outlined that the government’s push for tax and fiscal reforms aims to generate more income while maintaining fairness and accountability.
He stressed that the reforms were bold, deliberate, and necessary to overcome the current economic challenges. They are also designed to foster a more favourable environment for investment, particularly in the real estate sector, and to stimulate job creation and economic growth. Tinubu acknowledged the critical role of estate surveyors and valuers in supporting these efforts and emphasised the government’s willingness to collaborate with NIESV for effective tax administration and optimal use of public resources.
In his keynote speech, Dr. Zacch Adedeji, the Executive Chairman of the Federal Inland Revenue Service (FIRS), highlighted the significance of the real estate sector, which he noted is largely under-assessed. He pointed out several challenges in the sector, including informality, fragmented data systems, and inconsistent property valuation standards. To address these issues, Adedeji discussed the upcoming Tax Administration Bill, which aims to streamline procedures, improve compliance, and reduce inefficiencies and multiple taxation.
NIESV President Victor Alonge praised the conference as a pivotal event in shaping the nation’s land use, housing, and infrastructure policies. He assured that the institute would submit a comprehensive set of recommendations to the government to support national development.
