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Labour condemns six percent stamp duty on lease agreement, tenancy

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The Nigeria Labour Congress NLC has condemned in strong terms, the recent policy by the Federal Government through the Federal Inland Revenue Service (FIRS) stipulating a 6% stamp duty fee for every tenancy and lease agreement in Nigeria. 

Comrade Ayuba Wabba President  of the NLC in a statement in Abuja yesterday said the  new financial burden on poor Nigerians comes at a time when the socio-economic pressure arising from Covid-19 dislocations is pushing many Nigerians beyond the limits.

The labour president said it would worsen the deplorable situation faced by Nigerian workers most of whom, unfortunately, are tenants/

“We call on the Federal Government and the Federal Inland Revenue Service to rescind this harsh fiscal measure as it is boldly insensitive to the material condition of Nigerians which has been compounded by the Covid-19 health insurgency. Nobody would want to be a tenant if they had alternative. This means that tenants which this new policy targets are some of the most vulnerable people in our society. It would be illogical, insensitive and inhumane to churn out laws that make our poor go to bed at night with tears in their eyes.

“We understand that the government needs money to run the business of governance especially at this time of economic challenges all over world. But the answer is not in further exploiting the already exploited. There is no doubt that there are other painless ways of mobilizing funds to deal with the exigency of the times,” he said.

NLC says it expects a reversal of the 6% tenancy and lease stamp duty policy, and equally reminded the government that its highest responsibility is to ensure the security and welfare of every Nigerian.

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