Stamp duty on a deed of assignment for a property purchase or transfer.
Stamp duty
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Duty rate
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Total outlay
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Your breakdown
Updates live as you type| Item | Amount |
|---|
Worked example
Take a property bought for a consideration of N50,000,000. Stamp duty on the deed of assignment is charged ad valorem at roughly 1.5% of that consideration. Multiplying N50,000,000 by 0.015 gives N750,000 of stamp duty. Adding the duty to the purchase price brings the total outlay on this single line to N50,750,000. Bear in mind this covers only the stamp duty on the deed. A real transfer in Nigeria usually also carries Governor's consent fees and registration fees, which vary by state and are not included here, so the full closing cost will be higher.
| Item | Amount (NGN) |
|---|---|
| Property consideration | 50,000,000 |
| Duty rate | 1.5% |
| Stamp duty | 750,000 |
| Total outlay | 50,750,000 |
How it is calculated
Stamp duty on a property purchase is an ad valorem charge, meaning it is a percentage of value rather than a fixed fee. The deed of assignment that transfers title is dutiable at approximately 1.5% of the consideration paid, so the duty rises in direct proportion to the price. The exact percentage and the way the assessable value is determined can vary by state, since stamp duty on individual instruments is administered at state level. Stamp duty is distinct from the recurring property taxes such as the Lagos Land Use Charge, and it is also separate from capital gains tax, which only arises when a property is later sold at a gain. Treat the figure here as an estimate of the deed duty alone, before consent and registration costs.