NIESV Urges Kogi to Unlock Economic Growth via Asset Valuation

The Nigerian Institution of Estate Surveyors and Valuers (NIESV) Chairman, ESV John Eniwaiy, called on Kogi State to harness its underutilized assets through proper asset valuation during an event in Lokoja on Tuesday. He emphasized that accurate valuation is crucial for economic planning and wealth creation, noting that Nigeria holds trillions of dollars in untapped 'dead capital' due to unregistered and undervalued assets.

Eniwaiy highlighted that without proper assessment, assets cannot be effectively managed or used as collateral for loans. He urged the Kogi State government to establish a comprehensive digital asset registry and implement a land use charge system to ensure compliance with professional standards.

Eniwaiy also warned against selling assets below their true worth and called for stricter regulations to curb unqualified practitioners in the valuation sector. Additionally, he addressed rising housing sector challenges, including arbitrary rent increases, which have worsened living conditions for residents.