Section 51 Nigeria Tax Act 2025

Section 51 of the Nigeria Tax Act 2025 is about Principal private residences. It provides as follows:

(1) The gains accruing to an individual are exempt from tax in respect of the disposal of, or an interest in –
(a) a dwelling-house or part of such dwelling-house; and
(b) land, other than land used for commercial purposes, immediately adjoining the dwelling house up to a maximum of one acre.

(2) The exemption under this section shall be enjoyed once in the lifetime of an individual.

(3) The consideration shall be apportioned where a person disposes of only a part of a dwelling-house or a house used partly as dwelling place and partly for carrying out a trade, business, profession or vocation.

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