By Friday Idachaba, Lokoja
The Nigerian Institution of Estate Surveyors and Valuers (NIESV), Kogi State chapter, has called for stronger collaboration among government, investors and professionals to unlock the vast but underutilised wealth embedded in the state’s assets.
Speaking at the 2026 Valuation Day celebration themed, “Unlocking Nigeria’s Wealth: How Valuation Builds Our Prosperity,” the State Chairman of NIESV, ESV John Eniwaiye, described asset valuation as a critical tool for sustainable economic growth and national prosperity.
Eniwaiye said the theme was timely, stressing that Nigeria’s economic future extends beyond oil and depends largely on the proper identification and utilisation of its abundant land, real estate, mineral and human resources.
He urged the Kogi State Government to establish a comprehensive asset register, implement land use charges and enforce strict compliance with professional valuation standards in public land transactions.
According to him, a large portion of the nation’s wealth remains dormant because of poor documentation and inadequate valuation practices.
“Prosperity begins with understanding and efficiently managing available assets. You cannot manage what you do not measure. You cannot tax, trade, insure or collateralise what you do not know the value of,” he said.
Describing estate surveyors and valuers as the nation’s “wealth diagnosticians,” Eniwaiye explained that valuation plays a central role in determining the monetary worth of assets such as land, buildings and businesses, which in turn drives investment and economic planning.
He noted that proper valuation could unlock what economists describe as “dead capital,” improve Internally Generated Revenue (IGR), attract investments and ensure fair compensation in land-related transactions.
The NIESV chairman further stated that Nigeria possesses trillions of dollars in untapped assets that could become bankable wealth through proper titling and professional valuation.
He added that accurate property valuation would also enhance government revenue through fair taxation, thereby enabling authorities to fund infrastructure and public services without imposing excessive burdens on citizens.
Eniwaiye stressed that professionally valued assets boost investor confidence by providing the certainty required for lending and investment decisions.
He therefore urged financial institutions to prioritise Certified Valuation Reports in loan approvals, describing them as safeguards for both lenders and borrowers and essential for a stable financial system.
The chairman also encouraged property owners, traders and farmers to seek professional valuation services to avoid financial losses and make informed business decisions.
He, however, expressed concern over rising cases of arbitrary rent increases, blaming the trend on weak regulation and the activities of unqualified practitioners within the property sector.
According to him, the situation could worsen social and economic challenges if urgent steps are not taken to regulate rental practices and expand affordable housing schemes.
Eniwaiye called on government to intervene decisively by strengthening regulatory frameworks and investing more in affordable housing to ease pressure on residents.
In his remarks, former Kogi State Chairman of NIESV, Ekundayo Ayodele, emphasised the need for collective action to curb exploitation in the property market and promote fairness and transparency in real estate transactions.
Activities marking the 2026 Valuation Day celebration included a road walk to sensitise the public on the importance of asset valuation and a free valuation clinic where professionals offered advisory services to residents across selected offices in the state.
