The Nigerian Institution of Estate Surveyors and Valuers (NIESV) has urged property professionals to improve their understanding of fiscal and economic policies.
The institution warned that taxes, inflation, interest rates and regulations are having a growing impact on real estate values and investment decisions across Nigeria.
The Chairman of the National Mandatory Continuing Professional Development (MCPD) Committee of NIESV, ESV (Sir) Charles Oghenero Ebiai, FNIVS, RWA, gave the warning at the 2026 MCPD Seminar of the Kaduna State Branch.
The seminar focused on “Fiscal Intelligence and Risk Integration: The Essential Frontier in Valuation Practice for Nigeria’s Institutional Real Estate.”
It examined the growing demands on valuation professionals amid economic and fiscal uncertainty.
Fiscal policy affects property values
Ebiai said traditional valuation methods were no longer enough to assess real estate properly.
He said property values were now affected by several factors outside the physical features of an asset. These include taxes, government spending, infrastructure investment, land policies and development charges.
Property-related levies can also affect the cost of developing and owning real estate.
These factors matter to Nigeria’s housing market. Higher development costs can raise the price of new homes. Higher interest rates can also make property finance more expensive for developers and buyers.
Ebiai said taxation could affect the property market in several ways. It can influence development costs, rental values, investor behaviour, demand and expected returns.
He therefore urged estate surveyors and valuers to study economic indicators and government policies more closely.
Valuers urged to assess risk
According to Ebiai, the role of a modern valuer should go beyond putting a price on a property.
Professionals should also explain what drives a property’s value. They should identify risks that could reduce its performance.
They should also consider how an asset could perform under different economic conditions.
Ebiai said fiscal and regulatory changes should form part of this assessment.
He added that institutional investors were increasingly focused on risk-adjusted returns. This means investors are looking at both potential profits and the risks attached to those returns.
The risks facing property assets can come from several sources. They include economic shocks, regulatory changes, climate events, technology, tenant concentration, limited liquidity and market volatility.
Ebiai said risk should therefore be part of every serious valuation discussion.
Technology changing valuation practice
The NIESV official also called on professionals to embrace new technology.
He identified artificial intelligence, big data, geographic information systems and automated valuation models as useful tools for modern practice.
Digital property platforms, remote sensing and blockchain applications could also support valuation work.
Ebiai, however, said technology would not remove the need for professional judgement.
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He said machines could process large amounts of data. Professionals would still need to understand the market, test assumptions and assess risks.
He identified professional judgement, ethics, local market knowledge and sound valuation methods as key strengths for practitioners.
Better data needed for investment
Ebiai also called for stronger professional education and research in the valuation sector.
He urged practitioners to improve access to reliable property data. He also called for wider use of technology and stronger ethical standards.
According to him, these measures would help improve investor confidence in Nigeria’s property market.
He said professional valuation advice could play an important role in attracting more domestic and international investment.
Ebiai also urged estate surveyors and valuers to view continuous professional development as more than a regulatory requirement.
He said ongoing training should help professionals gain new skills and improve the quality of advice they provide.
Kaduna NIESV seeks stronger professional standards
The Chairman of the NIESV Kaduna State Branch, Ishaq Ayodele Bello, said economic uncertainty was changing the role of estate surveyors and valuers.
He said practitioners must now combine technical valuation skills with fiscal analysis, market intelligence and economic forecasting.
Bello said institutional investors needed professionals who could understand both opportunities and risks.
He also stressed the importance of professional standards in attracting investment into Nigeria’s real estate sector.
According to him, investors need confidence and transparency. Institutions also need consistent and reliable information.
Bello urged Nigerian practitioners to measure their work against international best practices. He also stressed the need to remain familiar with local market conditions.
Implications for Nigeria’s housing market
The discussions at the seminar highlight the growing link between fiscal policy and real estate performance.
Taxes, interest rates, development charges and infrastructure decisions can affect the cost of housing and property investment.
For developers, better understanding of these risks can support stronger investment decisions. For lenders and investors, reliable valuation advice can provide a clearer view of potential returns and risks.
The 2026 MCPD seminar brought together NIESV officials, estate surveyors and valuers, resource persons, business stakeholders and other professionals.
The event provided a platform to examine taxation, fiscal policy, technology, investment risk and other issues affecting institutional real estate in Nigeria.
As the property market faces changing economic conditions, NIESV’s message is clear: valuation practice must increasingly combine accurate property assessment with economic analysis, risk management and professional judgement.
