NIESV Holds Annual Valuation Day, Promotes Awareness, Financial Stability 

Folalumi Alaran in Abuja 

Members of the Nigerian Institution of Estate Surveyors and Valuers (NIESV) have emphasized the pivotal role of asset valuation in guiding financial decisions.

Speaking during the commemoration of the third edition of Valuation Day, an annual event to underscore the critical role of asset valuation in ensuring financial stability, the coordinator for NIESV, Abuja Branch, Adesina Adiatu said: “Asset valuation is crucial for maintaining stability in financial endeavours. Before investing or making financial decisions, it’s imperative to ascertain the worth of assets.”

With the theme ‘Importance of Assets Valuation in Financial Stability,’ the branch coordinator of the women’s wing in Abuja, Sandra Peter, stressed the need to sensitize the public about the profession’s capacity and the significance of valuing assets. 

She highlighted the prevalence of wasting assets in Nigeria due to a lack of awareness about their value.

Addressing concerns about quackery within the profession, Peter emphasized the importance of distinguishing between certified estate surveyors and quacks. 

She outlined efforts to educate the public about the range of services offered by qualified professionals.

The Permanent Secretary, Federal Ministry of Housing and Urban Development, Mr. Marcus Ogunbiyi, commended the profession for its contribution to the built environment. 

He urged collaboration between professionals and emphasized the importance of upholding ethical standards.

Chika Okafor reiterated the profession’s role in assigning value not only to tangible assets but also to intangible aspects of society. 

He emphasized the profession’s contribution to economic stability through thorough evaluation and viability assessments.

The Publicity Secretary of NIESV, Abuja Branch, Nwamaka Ofoma, urged the general public to recognize the importance of valuing property in decision-making processes, especially in real estate and investments.

Valuation Day, observed annually on May 5th, by estate surveyors and valuers serves as a reminder of the significance of asset valuation. 

It aims to promote the profession’s ethos of honesty and devotion, while highlighting its pivotal role in adding value to the built environment.

Through seminars, roadshows and public awareness campaigns, estate surveyors and valuers continue to advocate informed decision-making and the optimization of assets through accurate valuation practices.