There is growing concern over the inability of government to produce exact values for real estate assets, this is according to the Nigerian Institution of Estate Surveyors and Valuers (NIESV).
NIESV President, ESV Victor Alonge, on Monday, May 6, 2024, revealed this in Abuja, during an event commemorating the 2024 International Valuation Day, themed “The Importance of Asset Valuation in Financial Stability.”
He said the current state of the Nigerian economy calls for an urgent look at the huge benefits of appropriate professional asset valuation which will no doubt unlock key potentials and inherent resources in the country.
According to him, “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.”
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