NIESV Unveils Value Of Real Estate In Nigeria

The government’s incapacity to provide the precise worth of real estate assets throughout the nation has drawn the attention of the Nigerian Institution of Estate Surveyors and Valuers (NIESV).

The revelation was made on Monday in Abuja by NIESV President ESV Victor Alonge at a celebration of International Valuation Day, 2024, with the topic “The Importance of Asset Valuation in Financial Stability.”

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According to him, given the current status of the Nigerian economy, it is imperative to examine the many advantages of competent professional asset assessment, which will undoubtedly help the nation realize its full potential and use its natural resources.

He said, “Nigeria currently lags behind in undertaking credible valuation of her national assets. While the total value of global property assets was reported at $613.30 trillion, and the global stock market was at $109 trillion as of 2023. Nigeria does not yet know the value of her own real estate assets.”