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FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent - Properties - Nairaland

Nairaland ForumNairaland GeneralPropertiesFG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent (18293 Views)

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FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by ricson11(op): 8:12am On Aug 23, 2025

https://www.youtube.com/watch?v=8QOHOcKzBg8?si=BoLlM7XaOQ_uIK7E

The Federal Government of Nigeria has made insurance on buildings compulsory, a move that many citizens believe will further increase house rents.

Critics argue that the policy adds to the growing tax burden on Nigerians, with some accusing the government of stifling the poor instead of providing relief.
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by obonujoker(m): 8:18am On Aug 23, 2025
You voted in Rehoboam and you are afraid of Tax??

🤣🤣🤣.. go and read about Rehoboam in the Bible
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by CodeTemplarr:
Who insurance epp if not their friends in the financial sectors. Your payment wont prevent eventualities, it will only trap your money in the hands of crooks in suits who will doubt the circumstances of the eventualities when they begin to arrive.
Jesus is the highest insurer of the building of God almighty and not one gang of crooks in suits.
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by CodeTemplarr:
In his blind crave to be a star boy abi na city boy, Yekini first sent cement and thus house rent up by using cement to do a needless road. Now it is insurance. The bad building owners get to collect the good building owners premium when it fails. Crooks in suits take the rest.
They know anerican standard when it puts money in their pocket but suddenly have other ideas when sponsoring religion or wasting funds.
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by correctyourself(m):
CodeTemplarr:
Who insurance epp if not their friends in the financial sectors. Your payment wont prevent eventualities, it qill only trap you money in the hands of crooks in suits who will doubt the circumstances of the eventualities when they begin to arrive.
Jesus is the highest insurer of the building of God almighty and not one gang of crooks in suits.
This is the truth, i don't know why some people would just seat down in a beer parlor and decide what to do the next day through government officials and would sail through and become what the public must abide with. Nigerians don't forget history in a hurry!!!

The people that are making us go through all these challenges would soon come asking you to vote again, don't forget history ooóhhh
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by Ofunaofu: 8:30am On Aug 23, 2025
grin grin

Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by Zionmdde: 9:25am On Aug 23, 2025
By the time we enter January, everyone will get to realize what tax reform was all about, I hope that's not when fresh wailing will commence, because the country is becoming way very sweet. Divided in politics, united in suffering

Onye gba oso .........
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by Dalohad:
As usual, Tinubu is always thinking about more creative ways on how to dip his hands into people's pockets in the guise of taking Taxes, levies, fees. The money ends up in the bank accounts of his family members and other politicians and their numerous concubines.

A pestilence that must never be allowed to continue beyond 2027.
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by franchasng: 10:13am On Aug 23, 2025
obonujoker:
You voted in Rehoboam and you are afraid of Tax??

🤣🤣🤣.. go and read about Rehoboam in the Bible
no mind them lol
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by franchasng:
Tinubu removed petrol subsidy which led to increase in transportation cost and virtually every other thing in Nigeria by x4.

Removed subsidy on tertiary education tuition fee for Nigerian students which led to increase in university school fees and he cunningly brought student loan, loan not grant.

Tinubu brought Telecom tax, this pushed data price up.


Tinubu wanted to implement bank tax but got paused.


Tinubu devalued Naira and unified our exchange rate which jerked exchange rate up and led to quadruple increase in commodity prices in Nigeria.


Tinubu removed subsidy on electricity tariffs and introduced band A, band B, C billing system which led to increase in electricity bill by x4.



Tinubu is introducing new tax law that will force many struggling businesses to start paying huge tax from 2026.


Tinubu has increased customs import clearing duty more than 3 times and now price of Tokunbo cars and other imported products are x 4 in price.


Tinubu introduced new vehicle ownership style whereby every owner of vehicle in Nigeria now pay to FG every year to renew the ownership of their car. So every year you pay Tinubu to verify that your car is still your car not that you sold the car to a new owner.


Tinubu is now introducing house insurance which will cause annual rent in Nigeria to increase by x2 so that people paying NGN2 million per flat in a year will now pay NGN3.5million to NGN4million once he implements the housing insurance policy and Una say this man called Tinubu should not be impeached before 2027?



Nigerians continue playing na my tribes man, e go soon clear for una eyes shocked
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by Obviouslyblunt: 11:36am On Aug 23, 2025
Other country leaders look for ways to help their people and protect their country’s interests, this particular country leaders look for ways to tax their citizens to death.
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by Charly68: 11:38am On Aug 23, 2025
The Govt should be careful ...how many house owners can insure their houses in this economy ? They should stop their illusive profiteering policy in the insurance sector if not the system will collapse in Jesus name.
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by Nobody: 11:40am On Aug 23, 2025
A government that hasn't built a single house but gleefully taxes the already poor Nigerians.

By the time Emilokan finishes with una, una go answer una papa real names..

Even Pharoah no do reach this one
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by Gotocourt: 11:40am On Aug 23, 2025
The master strategist plotter will Kee us all. Omo nawaooo
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by onatisi(m): 11:41am On Aug 23, 2025
why are people complaining? tinubu is just delivering on his campaign promises and everyone heard it loud and clear . so please nobody should complain oooo


https://www.youtube.com/shorts/VP-BexCmsmM

https://youtube.com/shorts/VP-BexCmsmM?si=CL57QEkadctLZ2K4
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by Kingpele(m): 11:41am On Aug 23, 2025
Something Peter Mbah has started already in enugu with nothing to show for it...the set of people in power today are heartless...tax till death government everywhere....tax is good for development but over taxation destroy the purchasing power of citizens....government in a sane crime build houses for citizens and give it out in mortgage to citizens....but here people will suffer buy land and build house only for lazy government to come and tax them
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by ecomalchemisttt:
Omo , Everyday for naija na different problem.

This should be the motivation you need to leave the trenches (9ja).

Enough said.
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by tito44: 11:42am On Aug 23, 2025
Can't Nigerians come out and say enough is enough? Can't Nigerians come out and march this thief in AssssoRock out of there??
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by Dogalmighty17: 11:43am On Aug 23, 2025
What nonsense is this? Where in the world is building insurance Compulsory?
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by Rindo69: 11:43am On Aug 23, 2025
Of course! Trust our landlords! They will add on
the premium to the rent rather than pay from their pockets. Make no mistake...this policy is for them to steal. Do you know how much money will enter the hands of the insurance companies. You see what happened to NHIS money...it will happen to home insurance money
Shylocks
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by IyfeNamikaze(m): 11:43am On Aug 23, 2025
Zionmdde:
By the time we enter January, everyone will get to realize what tax reform was all about, I hope that's not when fresh wailing will commence, because the country is becoming way very sweet. Divided in politics, united in suffering

Onye gba oso .........
MPA ya

Seun gị na 28 more characters gi a, A jụ ọla m gí mà I Ji ya agba sporty bet
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by henryboyspaco(m): 11:43am On Aug 23, 2025
The worst part is how the likes of some disfunctional touts be busy supporting his disdane policies. Forgetting that the suffering is not only for the SS or SE, or North...but SW inclusive.
Make dem no get sense... We go suffer the suffer together.

If we don't put aside our egos and vote in competency, before 2031 Nigeria's population must have dropped to 103m.

Make the miscreants and ronus no get sense..continue fooling yourselves by supporting these evil sects.
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by donmixc: 11:44am On Aug 23, 2025
Tinupoo wants to finish Nigeria by all means available, Helinues will be happy with this news🤣😂
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by stanluiz(m): 11:45am On Aug 23, 2025
Na by force to insure properties ? Insurance is a choice not by force.

By the way, Insurance companies in Nigeria are nothing to write home about.
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by DrAkpa(m): 11:47am On Aug 23, 2025
Yoruba ro nu o.
Tinupoo is our brother, maybe Yoruba people will be exempted from paying this insurance levy angry angry grin angry
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by PUNANI01: 11:47am On Aug 23, 2025
For escape for you all. Even 30k people will be caught up in this. ICE is searching for Legendhero in US.
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