The Nigerian Institution of Estate Surveyors and Valuers (NIESV) has called for wide-ranging reforms to rebuild public confidence, strengthen ethics, and align Nigeria’s property market with global standards.
Speaking at the 7th Real Estate Summit of the NIESV Lagos Branch on Tuesday, Chairman Tosin Kadiri said trust remains the foundation of a stable real estate market, stressing that transparency and integrity are essential in property transactions.
“Real estate is not just about land or buildings—it’s about people’s homes and investments,” Kadiri said, urging practitioners to uphold strict ethical standards across valuation, sales, and land administration.
Former NIESV President Emeka Eleh said the problem lies not in the absence of standards but in weak compliance and enforcement. He called for stronger regulation, technology adoption, and data-driven land administration to modernise the sector.
Delivering the keynote address, Yemi Ejidiran, former Managing Director of Wemabod Limited, emphasised that credible valuation is key to sustaining investor confidence. “Valuation is not just numbers; it’s accountability,” he said, advocating for consistency and transparency in valuation practices.
Representing the Lagos State Government, Kamar Olowoshago, Permanent Secretary of the Land Bureau, commended NIESV’s commitment to professionalism and urged closer collaboration between government and practitioners to drive reforms.
The two-day summit featured discussions on ethics, sustainable housing, and real estate financing. Experts agreed that restoring trust requires stronger regulation, professional discipline, and greater transparency supported by technology and training.
As Nigeria’s real estate sector expands amid rapid urbanisation, stakeholders emphasised that ethical governance and reform-driven professionalism will be crucial to attracting investment and sustaining growth.
