Section 51

(1) The gains accruing to an individual are exempt from tax in respect
private of the disposal of, or an interest in –
residences
(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.
Nigeria Tax Act, 2025 2025 No. 7 A 425