The Delta State High Court has dismissed a preliminary objection filed by members of the Okonjo family in an alleged land-grabbing dispute, allowing the substantive case to proceed. The ruling marks a significant development in the long-running disagreement over land ownership and property rights in the state.

The case centres on allegations of unlawful acquisition and ownership claims over disputed parcels of land. The defendants had challenged the court’s jurisdiction and sought to halt proceedings through a preliminary objection. However, the court ruled that the matter should proceed to a full hearing to determine the merits of the claims and counterclaims presented by the parties.

Legal experts note that disputes over land ownership remain a major challenge in several parts of Nigeria, often leading to prolonged litigation, community tensions, and uncertainty over property rights. They argue that effective land administration systems and timely judicial interventions are essential to resolving such conflicts and promoting investor confidence in the real estate sector.

Stakeholders have also called for improved land documentation, digital record systems, and stronger dispute resolution mechanisms to reduce cases of conflicting ownership claims and alleged land grabbing. They maintain that secure property rights are critical to economic development and sustainable urban planning.

The court’s decision means the parties will now proceed to substantive hearings where evidence and arguments relating to the disputed land will be examined before a final determination is made.

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The Nigerian Institution of Estate Surveyors and Valuers (NIESV), Lagos Chapter, has warned that Nigeria may be sitting on more than $300 billion in “dead capital” tied up in undocumented real estate, abandoned public projects and underutilised government assets.

Chairman of NIESV Lagos Chapter, Tosin Kadiri, raised the concern during the institution’s 2026 Valuation Day celebration held in Lagos with the theme, “Unlocking Nigeria’s Wealth: How Valuation Builds Our Prosperity.”

Kadiri said despite Nigeria being richly endowed with assets, the country remains financially constrained because a large proportion of properties and agricultural lands are outside formal valuation and documentation systems.

According to him, more than 70 per cent of properties in Nigeria remain untitled and lack professional valuation, making it difficult for property owners and governments to unlock their true economic value.

He explained that trillions of naira remain trapped in informal markets where assets cannot be effectively taxed, insured, mortgaged or used as collateral due to the absence of verified valuation records.

“Nigeria is asset-rich but unfortunately cash-constrained despite over $300 billion in dead capital stocked in undocumented real estate, abandoned government projects and state-owned enterprises that cannot be leveraged for the country’s economic growth,” he said.

Kadiri noted that while Nigeria’s real estate sector continues to expand, much of the wealth generated within the sector remains invisible to the formal economy because transactions are often driven by speculation instead of professionally verified market data.

“We are sitting on trillions of naira in real estate, yet much of the wealth is locked in untitled land, undervalued properties and informal markets, where price is based on rumour, not evidence because professionals are not engaged in the exercise,” he stated.

He described valuation as a critical tool for unlocking economic prosperity, stressing that sustainable economic growth cannot be achieved on undocumented assets.

“Valuation is the key to unlocking this wealth. You cannot tax it, mortgage it, insure it, compensate for it or invest in it if you do not know what it is worth,” Kadiri said.

According to him, Nigeria’s economic future should not depend solely on oil revenues but also on unlocking the value embedded in land and buildings across the country.

He urged federal and state governments to strengthen asset valuation systems as part of wider economic reforms aimed at boosting internally generated revenue and attracting investment into the property sector.

Kadiri also called on estate surveyors and valuers to uphold professional ethics, embrace technology and strengthen research and capacity development to improve public confidence in the profession.

“I also call on government agencies, financial institutions, developers, corporate organisations and the general public to engage only qualified and registered Estate Surveyors and Valuers for valuation assignments,” he added.

He explained that proper valuation could transform dormant property assets into economic capital capable of supporting entrepreneurship, job creation and business growth.

According to him, properly valued properties in areas such as Surulere, Lagos, or parcels of land in Epe could serve as bankable collateral for small businesses and entrepreneurs seeking access to financing.

Kadiri, however, warned that weak market data, poor public awareness, unregulated practices and limited technology adoption continue to undermine the growth of the valuation profession and Nigeria’s broader real estate market.

“Every thriving economy depends on reliable valuation systems. Valuation remains a key driver of economic confidence and market stability,” he said.

Also speaking at the event, immediate past Chairman of NIESV Lagos Chapter, Gbenga Ismail, described valuation as a vital decision-making tool for both governments and investors.

“Valuation helps government know the true worth of assets and supports informed decision-making. It also reduces disputes because all facts are professionally established,” he said.

Senior Partner at AkinAbraham & Associates, Akinropo Abraham, said proper valuation has become increasingly important amid rising inflation and exchange rate volatility.

He warned that the absence of professional valuation continues to encourage under-reporting of assets and revenue losses for government.

According to him, over 95 per cent of residential and agricultural lands across Nigeria still lack formal valuation records.

A Fellow of the institution, Oladele Olanrewaju, also cited disputes surrounding the Lagos-Calabar Coastal Highway project as an example of the consequences of poor valuation planning.

He argued that involving professional valuers at the early stages of major infrastructure projects would help reduce compensation disputes and legal conflicts between affected communities and government agencies.

“With our professional training as Estate Surveyors and Valuers, we would have inspected and worked out values agreeable to all parties,” he said.

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