The Anambra State Government has intensified its enforcement of the directive to end the Monday sit-at-home by sealing multiple shops in Onitsha and surrounding areas for failing to open for business.

JomogNews gathered that most of the sealed shops were at the Building Materials Market, Ogidi, where traders did not open for business on Monday.

The state government, however, commended many traders who came to the market that day, especially those at the Electrical Parts Dealers Market, Obosi.

The Special Adviser to the Governor on Markets, Evarist Uba, undertook a routine monitoring exercise to assess the level of compliance with the state government’s directive for markets to open on Mondays.

During the tour, Uba reported that a substantial number of shops at the Electrical Parts Dealers Market, Obosi, were open for business on Monday, marking a notable departure from the prolonged weekly lockdowns that have stifled economic activities across the state.

He said, “The Obosi Electrical Parts Market is a key hub for electrical components in the Southeast, and I’m happy to see a significant level of activity.

“The government is intentionally building a state that embraces productivity. The government of Anambra State, under the leadership of Governor Chukwuma Soludo, is highly impressed by the courage and patriotism displayed by the electrical parts dealers in Obosi, as 80 percent of the market is open.

“Their decision to open their shops is a clear testament to their faith in the government’s efforts to restore peace and their commitment to the economic prosperity of the state.”

At the Building Materials Market, Ogidi, some shops that were under lock and key were sealed by the state government. The Special Adviser commended those who complied and warned that the sealed shops would remain closed for two weeks.

Leaders of the markets who spoke during the tour expressed their support for the government’s stance.

The Chairman of the Electrical Parts Dealers Association, Obosi, Chike Onunkwo, and Chief Jude Nwankwo, President of the International Building Materials Market, Ogidi, praised the enhanced security provided by the state.

They pointed out that the government has shown commitment and, as such, traders must play their part in rebuilding the state economy.

The monitoring committee comprised the Commissioner for Information, Dr. Law Mefor; the Special Adviser to the Governor on Security, AVM Ben Chiobi (rtd); and the Press Secretary to the Governor, Mr. Christian Aburime.

The team also visited other major markets in Nnewi and Onitsha, among others, to monitor compliance with the government’s directive.

Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, has confirmed that land, buildings, and rent are fully exempt from Value Added Tax (VAT) under the Nigeria Tax Act 2025.

These reforms, which took effect in January 2026, are designed to lower property transaction costs, stimulate real estate investment, and provide relief to tenants.

Oyedele explained that the new law, which has already commenced, was designed to reduce the cost of housing, encourage investment in real estate and provide relief for tenants and small businesses across the country.

According to him, land and buildings are specifically exempt from VAT under the new tax regime. This means that individuals buying land or completed buildings will no longer pay VAT on such transactions. He added that the exemption also applies to rent, making both residential and commercial rent completely free from VAT.

He said the removal of VAT on land, buildings and rent is expected to lower the overall cost of property transactions and ease the financial burden on Nigerians seeking accommodation.

Oyedele also explained that where VAT is charged on certain construction materials or services, contractors can now recover the VAT paid on their assets and overhead costs. He said this input VAT credit will reduce construction expenses and make it easier for developers to manage their projects.

He dismissed claims circulating in some quarters that the Nigeria Tax Act 2025 introduces a 25 per cent tax on construction funds, bank balances or business expenses. He described such claims as false and misleading.

Writing on his WhatsApp platform on Sunday, Oyedele said, “Contrary to the misinformation seeking to create fear, panic and disaffection, the Nigeria Tax Act 2025 has already commenced and does not impose a 25 per cent tax on construction funds, bank balances, or business expenses.”

He said the law does not tax money kept in bank accounts, does not impose any levy on transfers used to buy building materials and does not introduce any 25 per cent construction or business cost tax. He also clarified that there is no postponement of implementation until 2027, as being alleged in some messages circulating online.

According to him, the focus of the new tax law is to make housing more affordable and stimulate growth in the property sector.

On construction contracts, Oyedele disclosed that the Withholding Tax rate has been reduced to two per cent. He said the lower rate will help developers retain more cash during project execution and reduce their dependence on expensive borrowing.

In addition, he said mortgage interest paid by individuals who are building their own homes can now be deducted for tax purposes. “Mortgage interest is tax-deductible for individuals developing an owner-occupied residential house,” he said. He explained that this provision will encourage more Nigerians to take steps towards owning their homes.

For landlords, the law allows property owners earning rental income to deduct related expenses such as repairs, insurance and agency fees before calculating their tax liability. Oyedele said this will reduce the tax burden on property owners and may encourage better maintenance of buildings.

He also addressed the concerns of tenants, noting that the law provides direct rent relief. According to him, individuals can claim rent relief of up to N500,000, capped at 20 per cent of their annual rent. He said this measure will increase the disposable income of low-income earners and help ease the pressure of rising accommodation costs.

Oyedele added that lease agreements with an annual value below N10 million, or ten times the annual minimum wage, are exempt from stamp duty. He said this will reduce the cost of formal tenancy agreements, particularly for small businesses and ordinary Nigerians.

On incentives for investors, he said individuals will no longer pay Capital Gains Tax when they dispose of a dwelling house or an interest in one. According to him, this exemption will encourage more investment in residential property.

He also disclosed that Real Estate Investment Trusts will enjoy Companies Income Tax exemption if they distribute at least 75 per cent of their dividend or rental income within 12 months after the end of their financial year. He said this move is expected to attract institutional investors into the housing sector and increase the supply of homes.

The law also provides incentives for companies involved in manufacturing building materials such as iron, steel and domestic appliances. Oyedele said such companies can qualify for tax exemptions under the economic development incentive scheme for up to 10 years. He noted that this will promote local production and reduce dependence on imported materials.

He further stated that there is scope for reducing the Companies Income Tax rate for large businesses from 30 per cent to 25 per cent, a move he said would improve Nigeria’s competitiveness and attract more private sector investment.

Oyedele said the new tax framework also protects workers and small businesses. He explained that the taxable value of employer-provided accommodation is limited to the annual rental value and capped at 20 per cent of the employee’s annual gross income, excluding the rental value. This, he said, ensures that workers are not overtaxed on housing benefits provided by their employers.

He added that small companies will benefit from zero per cent Companies Income Tax. Such companies will also be exempt from charging VAT and will not have Withholding Tax deducted from their invoices and payments. According to him, this will give small contractors and suppliers more room to grow.

“Claims suggesting a new tax on building materials or bank funds are false and misrepresent the law,” Oyedele said.

He maintained that the overall goal of the Nigeria Tax Act 2025 is to make housing more affordable, promote real estate development, support local manufacturing of building materials and grant meaningful rent relief to tenants.

Ending his message with a call for calm and careful reading of the law, Oyedele said, “Fact not fear, evidence beats emotion. If anyone makes an alarming claim or tries to misinform you, ask them, ‘Where is it in the law?’”

He added that with the new tax laws in place, housing costs should reduce and rent should go down, not up.

Security forces on Sunday evening successfully repelled an attack by armed bandits on Share, the headquarters of Ifelodun Local Government Area (LGA) in Kwara State.

The confrontation involved a combined team of the Nigerian Army, forest guards, and other local security outfits.

The attack was reportedly repelled after about one hour’s exchange of gunfire between security forces and the armed bandits.

Share community came under attack Sunday evening when armed bandits reportedly invaded the town, sparking panic among residents.

Local security sources confirmed that the attackers engaged combined security forces in a fierce exchange of gunfire that lasted for about one hour.

The coordinated response is said to have successfully repelled the assailants.

No official confirmed cases of abduction or fatalities were reported at the time of this report.

Authorities are said to be monitoring the situation closely, while residents remain on alert, according to a security source.