The Nigerian Institution of Estate Surveyors and Valuers (NIESV), Rivers State Branch, has called on Nigerians to adopt professional asset valuation as a strategic tool for economic development. Chairman Nwokoma Nwankwo made this appeal during the 2026 International Valuation Day commemoration in Port Harcourt.
Valuation as Economic Catalyst
Nwankwo explained that valuation involves the professional assessment of monetary worth of assets like land, buildings, businesses, and infrastructure using established standards and expert judgment. He emphasized that proper valuation can uncover hidden wealth, support investment decisions, improve credit access, and promote transparency.
This year's theme, "Unlocking Nigeria's Wealth: How Valuation Builds Our Prosperity," was described as fitting for a nation with vast but underutilized assets. Nwankwo noted that accurately valued assets can be transformed into opportunities for growth and national prosperity.
Benefits and Regulation
A credible valuation system strengthens the financial sector, boosts investor confidence, and enhances government planning, taxation, and compensation frameworks. Conversely, poor practices can lead to financial losses and legal disputes.
Nwankwo reiterated that valuation in Nigeria is regulated by the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON), ensuring professionalism and ethical standards. He urged government agencies, financial institutions, and the public to recognize valuation's importance for sustainable development.
The chairman called on Nigerians to engage qualified estate surveyors and valuers to determine the true worth of their assets, stressing that understanding value is key to wealth creation and the nation's economic future.
