₦airaland Forum

Welcome, Guest: RegisterLoginWith GoogleTrendingRecentNew

Stats: 3,325,152 members, 8,420,575 topics. Date: Friday, 05 June 2026 at 03:16 AM

Toggle theme

FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent - Properties (2) - Nairaland

Nairaland ForumNairaland GeneralPropertiesFG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent (18291 Views)

1 2 3 4 Reply (Go Down)

Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by Berankis: 11:49am On Aug 23, 2025
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 not pay NGN3.5million to NGN4million and Una say this man called Tinubu should not be impeached before 2027?

Tinubu will leave this country is total ruins that will take forever to fix. This guy is a hardened criminal!!!
Ha! Jesus Christ!!

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 ibechris(m): 11:50am On Aug 23, 2025
All of u supporting Tinubu go hear am.

How can he be lumping everything together.
Fuel subsidy.
Taxation
Now insurance wahala.

Meaning u cant start a project without insurance...by next year,the landlord would knock at ur door for additional rent increase just to pay insurance.
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by Hemanwel(m): 11:50am On Aug 23, 2025
Just like the Emefiele policies made a lot of people and companies richer, this policy will surely put smiles on the faces of those in the insurance sector.
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by Jostoman: 11:52am On Aug 23, 2025
This man na very wicked man, he just came to power to punish Nigerians.

Nigerians don ente one chance.
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by Olatayo0103: 11:52am On Aug 23, 2025
We know
We warned
This is just beginning
Some foolish people will still vote for him in 2027.
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by SocialJustice: 11:54am On Aug 23, 2025
You can't tax your way to prosperity especially with taxing the poor.
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by Myrepublic(m): 11:57am On Aug 23, 2025
tito44:
Can't Nigerians come out and say enough is enough? Can't Nigerians come out and march this thief in AssssoRock out of there??
No ,they rather choose to be saying one is from Yoruba, another is from igbo. Fighting themselves over politicians that are killing them,and stealing from them.
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by Ibehchizzy: 11:59am On Aug 23, 2025
The funny thing be say yelo barppl still dey complain
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by DoctorStanley: 11:59am On Aug 23, 2025
Dalohad:
As usual, Tinubu always thinking about more creative ways on how to dip his hands into people's pockets in the guise of taking Taxes, levies, fees.

A pentilence that must never be allowed to continue beyond 2027.
You mean pestilence
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by Omalicious1: 12:01pm On Aug 23, 2025
ricson11:

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.
Why don't the government rather start building houses for citizens in other to checkmate the sharp practises by some landlord.
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by Olamideayomide(m): 12:08pm On Aug 23, 2025
If this news is through definitely, this APC people don't give a damn about our welfarism.

This government is ready to finish the masses kpatakpata, when this current regime is through with everybody we will beg them to breadth cos this burden is getting too much on masses.
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by Bwilliam(m): 12:08pm On Aug 23, 2025
House insurance should be optional.
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by efemena5050(m): 12:12pm On Aug 23, 2025
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 not pay NGN3.5million to NGN4million 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
This man can only be president in a nation like this bcus of the types of people present.No sane nation will take this type of rubbish from this thing.
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by israelmao(m): 12:12pm On Aug 23, 2025
This is a plus on insurance industry.Insurance is meant to secure the building for necessary indemnity in event of fire,collapse or any unforseen occurrence.
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by Elusive001: 12:15pm On Aug 23, 2025
His supporters are not yet here. They may be receiving briefing on their WhatsApp group on how to spin this news.

They will soon be here.
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by Skodiswayze(m): 12:17pm On Aug 23, 2025
CodeTemplarr:
In his blind crave to b a star boy abi na city boy, Yekini first sent cenent 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.
Did you mean this road? grin

Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by franchasng: 12:19pm On Aug 23, 2025
efemena5050:
This man can only be president in a nation like this bcus of the types of people present.No sane nation will take this type of rubbish from this thing.
That is the consequences of being forced to be in one country with wicked, heartless people who call white blue.

The same Tinubu increased vehicle insurance cost....all that Tinubu knows and thinks about is how to generate more money from milking the common man and even after generating the money, he uses it for his personal luxury.


I don't think any other Nigerian state collects land use charge paid to state governments every year except Lagos state as introduced by Tinubu when he became Lagos state Governor yet go to Lagos, all the intracity roads connecting streets, LGAs, LCDAs, etc are completely dead....a megacity cosmopolitan state like Lagos.


Now the kleptomaniac has taken his tax-master leadership style to the federal level....honestly Tinubu needs to be stopped sooner than later before he causes more irreversible harm to Nigeria angry angry
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by toprealman:
Interesting how all the “God bless Tinubu” bots have all been deactivated in this front page!
All APC landlords and Tinubu’s apologists are exempted from this tax💀💀💀💀
#ThisIsNigeria
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by lexy2014: 12:23pm On Aug 23, 2025
ricson11:

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.
Kingdavid579:
Nigeria has so many issues and all cannot be addressed at same time, he's not doing some of which you listed effectively doesn't he's not doing any at all.
is this one of the things tinubu is doing?
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by 43Ronin: 12:23pm On Aug 23, 2025
Where are those people that said this govt will favor them and their family, they are already quiet? cheesy
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by famouscargo4u: 12:24pm On Aug 23, 2025
obonujoker:
You voted in Rehoboam and you are afraid of Tax??

🤣🤣🤣.. go and read about Rehoboam in the Bible
*My father flogged you with cane, I will treat you with snakes and scorpions "
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by LordIsaac(m): 12:25pm On Aug 23, 2025
Charly68:
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.
He wants to copy advanced countries, without putting into cognisance our purchasing power. When I saw that tax reform idea, I knew Nigerians are in for a long ride. We mist receive sense by force. Giving birth to children we cannot raise successfully would remain the bane of our society!
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by anonimi: 12:25pm On Aug 23, 2025
CodeTemplarr:
In his blind crave to b a star boy abi na city boy, Yekini first sent cenent 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.
Ebilokan’s knowledge of Chicago and American standards is limited to raising taxes and IGR from the masses. It doesn’t include how to use the money for employing civil servants to make education free for all children, and pipe borne water available to all households.

If in doubt, ask Lekki people and other Lagosians.

fergie001:

https://www.youtube.com/watch?v=g5v-F81hNTs

The Permanent Secretary, Office of Drainage Services and Water Resources in Lagos State, Mahmood Adegbite, has said that people drilling borehole in the Lekki axis of the state is probably drinking ‘’shit water.”

While speaking at a stakeholders meeting in the state recently, Adegbite noted that contaminated boreholes in Lekki pose health risk and added that treatment of waste water would eradicate any form of disease that may arise from it.

He said, “On waste water treatment, I will say that everyone digging borehole within the Lekki axis is probably drinking what I will call ‘shit water.’

https://punchng.com/video-everyone-digging-borehole-in-lekki-is-probably-drinking-shit-water-lagos-govt/?fbclid=IwQ0xDSwMABDJjbGNrAwAEK2V4dG4DYWVtAjExAAEewOd7728C0FSKQJNWar4yKRxNpNKt1owSlw47y57FKAux2QxvQL24Iu18rtw_aem_3kB5Sd2GjpdqjN6zFuIs7w
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by ufotunang: 12:26pm On Aug 23, 2025
Renewed hope to renewed shege
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by ufotunang: 12:28pm On Aug 23, 2025
Keep on voting Tinubu and APC into power..you na never see anything yet
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by CrownLands(m): 12:28pm On Aug 23, 2025
That's right. Rents will definitely rise. Because landlords will transfer government/local charges and taxes to their tenants.
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by Confirm4real(m): 12:31pm On Aug 23, 2025
It will favour me and my family group how far nah wink
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by Dalohad: 12:31pm On Aug 23, 2025
DoctorStanley:
You mean pestilence
My bad.. couldn't believe I wrote that..

Thanks for the heads up. 👍
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by lexy2014: 12:32pm On Aug 23, 2025
ricson11:

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.
is this part of the "empowerment"?

ajailer:
Was at the airport to receive her when she came in yesterday night, was there at today's meeting, and will still be at tomorrow's empowerment. Omo, APC govt dey try with the various empowerment programmes they have been doing, also the developmental works in the state too but I don't know why there seems not to be that much awareness about what they are doing. It's the grassroot people that are majority benefitting, and I feel they can do more with the media awareness or probably, the reason why the good news is not getting the needed traction is because of the haters like that Chinedu boy and his obirodents who want the govt to fail so that they can take over govt and loot the state dry. I can confidently say that if another party takes over Lagos State, omo, people go def regret am cos the new party will be struggling to catch up with where APC govt will leave the state in terms of planning and development.

Eko o ni baje o.
Re: FG Introduces Compulsory Insurance On Buildings, Nigerians Fear Higher Rent by owobokiri(m): 12:32pm On Aug 23, 2025
They want to make money for their ethnic insurance companies as usual.. They don't mind destroying the real estate industry as a result..
How many claims for accidents are paid by these insurance companies in Nigeria over these years?
Meanwhile, the police are at every checkpoints searching for your insurance papers as if that prevents accidents!
It's all about ethnic imperialism..
1 2 3 4 Reply

Demolition Of Buildings Ongoing In Oyo State (Photos)Strangest Buildings In The World (photos)Dangote Cement Introduces Blocmaster To End Building Collapse234

Classic 3bedroom Bungalow/flat Architectural Design For Half Plot Of LandPrice Of Roofing Sheets In Nigeria By GHAPH Roofing And PropertiesFire Outbreak At Ire Akari Estate, Soka In Ibadan (Photo)