Experts in the housing industry have picked holes in the operations of federal, state and local governments across Nigeria, alleging arbitrary levies and taxes against operators in the sector.
Managing Director of Atlas Global Investment Limited, Port Harcourt, Prof Martins Ebuleh, explained that the main issue regarding taxation was more about being sure of the taxes to pay and to which authority.
According to him, Ministries, Departments and Agencies, Local Governments and other government authorities look into their laws both old and new under their regulatory powers and afterward levy business to generate revenue to carry out the function.
He stressed that, “these levies usually have no verifiable basis, demanded anytime in the year without prior budgeting by the businesses, pointing out that, “all these increase the cost of doing business and the attendant uncertainties. Businesses need budgeting and any new levy should not be of immediate action, there must be breaking in and enlightenment era, to allow businesses plan for such taxes”, he said.
On other challenges facing operators in the industry, he listed access to land, especially the security of title, finance and human resource, especially in the construction sub-sector, as some of the hurdles operators have to scale through.
He, however, disclosed that the problems assume different dimensions depending on the market segment, adding that, all players and stakeholders need to come together to identify solutions to the problems, whether mortgage structure, both primary and secondary, funding developers, funding the wholesale and retail markets, building construction technology and training of artisans and technicians.

Bethel Sam Toby