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NIESV seeks role assets valuation

NIESV seeks role assets valuation

“THE Nigeria Institution of Estate Surveyors &Valuers (NIESV) has called on the government to include it in its assets valuation programme.”- The Nation

NIESV, Lagos chapter Chairman, Mr. Offiong Samuel Ukpong told The Nation that as a professional body with a mandate for asset valuation, their non-inclusion in the  assets valuation renders the process invalid.

He said since the law provides that assets should be verified, there is no better professional group to undertake the job than his institution.

He also called for the yearly Public Asset Valuation (PAV), stressing that it is not only a global practice but a requirement of International Public Sector Accounting Standards.

He said: “Landed assets need economic input but, unfortunately, values of property all over the nation are not known. If there is any information at all, it is from the private sector, which is not adequately circulated, so prospective investors in real estate have no guiding data or statistics to guide them. We ask policy makers to bring in the relevant professionals to add value to the economy.”

Ukpong regretted that values of land in the country are not known, urging the government to take it as a serious issue in governance to add value in the economy by adding value to land, which, if harnessed professionally, will create wealth for the public.

Dapo Ogunlewe, a surveyor, asked the government to seek the opinion of his colleagues on topical issues, especially on economic, budget and landed matters. He wondered how the government would come up with a policy, such as the Economic Recovery and Growth Plan (ERGP), and not involve estate surveyors.

The ERGP document, spells out government’s roadmap for security improvement, war against corruption, and economic revitalisation. It is also a compendium of government’s sectoral plans for agriculture and food security; energy, transport infrastructure; industrialisation and social investments. It also consists of plans to drive economic growth and achieve a seven per cent growth rate by 2020.

NIESV’s Assistant Secretary, Mrs. Bridget Orani, regretted that when a country is in recession, everybody tends to be a surveyor, letting out properties.

She attributed the high rate of dispute between landlords and tenants to quacks in the sector. According to her, an estate surveyor  and valuer will not just accept tenants for the sake of money alone.

Source: The Nation

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