The Nigerian Institution of Estate Surveyors and Valuers urged its members to value properties ethically and avoid dishonest practices.
Johnbull Amayaevbo, the President/Chairman, emphasized this during a recent event in Abuja. The occasion marked the 30th John Wood Ekpenyong Memorial Lecture and the 2024 induction of fellows. The theme was “The Role of the Real Estate Sector in National Economic Development.”
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Amayaevbo warned against members failing to uphold integrity, citing the expulsion of five members in 2023 for dishonesty. He urged newly inducted fellows to prioritize continuous learning and uphold professional ethics.
Launching the 2021-2023 Real Estate Market Report, the institution provided valuable insights into land prices across Nigeria. This report, to be utilized by stakeholders and the National Bureau of Statistics, will inform decision-making in real estate investments and valuation.
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Amayaevbo also advocated for the review of outdated land laws, notably the Land Use Decree established 46 years ago. He proposed removing land laws from the constitution for necessary updates, highlighting an upcoming event in March centered on land administration and management. This initiative seeks to engage stakeholders in discussions about modernizing land legislation to align with current needs and foster national development. The institution aims to guide the government towards achieving a $1 trillion GDP by leveraging the nation’s land wealth, underscoring the importance of professional advice in this endeavor.
As the Nigerian Institution of Estate Surveyors and Valuers spearheads the drive for integrity and professionalism within the real estate sector, platforms like Krent align with the institution’s vision of a dynamic and thriving real estate ecosystem.
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