The Nigerian Institution of Estate Surveyors and Valuers (NIESV) has called on government authorities to prioritize affordable land access while ensuring sustainable revenue through the consistent collection of ground rent.
Speaking during the annual Estate Surveyors’ Week held in Lagos, the Lagos State chapter chairman, Gbenga Ismail, highlighted the importance of adopting a progressive land management strategy. He emphasized that making land accessible at a minimal initial cost and allowing developers to amortize payments over time would boost housing delivery, while government could still earn steady income through structured ground rent and related charges.
“Land should be made available at marginal cost. Developers can then build gradually, while the government generates revenue through ground rent and other related fees,” Ismail said.
He also raised concerns over the cost of building materials, pointing out that a significant portion of housing finishes are imported—making affordability a challenge. “With over 70 percent of finishing materials being imported, how can the average Nigerian afford a three-bedroom apartment priced at N15 million?” he queried.
On the issue of rental reform, Ismail addressed Lagos State’s proposed shift toward monthly and quarterly rent payment options. While supporting the idea, he cautioned that its success depends on a well-defined legal framework, practical enforcement mechanisms, and proper infrastructure.
“The idea of monthly rent is a step in the right direction, but implementing it requires a cautious and balanced approach. There must be legal clarity, incentives for compliance, and protections for both landlords and tenants,” he advised.
He further suggested that the policy be piloted in government-owned estates before extending it to private developments. According to him, such a phased approach would allow the state to evaluate outcomes and make necessary adjustments.
Ismail reaffirmed the institution’s readiness to work with policymakers in drafting practical legislation that reflects market conditions. “As professionals in the real estate sector, we are open to collaboration to ensure any new rent law is fair, implementable, and beneficial to all stakeholders,” he said.
Reflecting on the progress of the Lagos chapter of NIESV, Ismail noted that the branch has made significant strides over the past two years. These include hosting a real estate summit for industry dialogue, launching a peer review forum, and establishing a capacity-building resource centre to promote continuous professional development.
He also highlighted efforts to expand the professional base by enrolling more qualified estate surveyors and valuers, while ensuring members enhance their skills through mandatory development programs. “These initiatives have positioned Lagos-based estate professionals ahead of their peers in other states, especially in terms of competence and professional confidence,” he added.
