The 30% building tax that’s driving up the cost of housing in Lagos

The cost of building approval in Lagos can account for up to 30% of the total cost of a construction project, according to industry practitioners. This high regulatory burden stems from various stages of the approval process, including professional documentation, planning permit approval, construction authorisation, stage inspections, and final certification.

The costs are incurred throughout these stages and can include professional fees, testing, inspections, insurance, amendments, and delays. While Lagos has made progress in its approvals and permitting processes, there remains a need for a more predictable system to reduce the financial strain on developers.

Brief written by urgent.news from Nairametrics's own syndicated text. Machine-written — may contain errors; check the original before relying on it.