Section 134

.Where there is an exchange of a real property for another, any
as to
exchange consideration exceeding N 1,000,000 or a sum equal to the annual national
minimum wage, whichever is higher, shall be charged to duty with the same ad
valorem duty as a conveyance on sale.
Leases 135. An agreement for a lease, with respect to the letting of land or
building, shall be subject to duty on grant of a lease or sublease, or the assignment
of a lease, and shall be charged with the same duty as if it were an actual lease
made for the term and consideration mentioned in the agreement, provided
Nigeria Tax Act, 2025 2025 No. 7 A 469
that lease agreements for which the annual value is less than N 10,000,000 or