Property valuation professionals have warned that persistent insecurity, inflation, exchange rate volatility, and other economic shocks are making it increasingly difficult to determine accurate property values across Nigeria. They say the growing uncertainty is affecting investment decisions, mortgage financing, insurance assessments, and overall confidence in the real estate market.

According to experts, property valuation depends heavily on stable market conditions and reliable transaction data. However, security challenges in several parts of the country, coupled with rising construction costs and fluctuating economic indicators, have significantly altered market behaviour, making traditional valuation methods more difficult to apply.

Estate surveyors and valuers explained that insecurity has forced many investors and residents to relocate from affected communities, reducing demand in some areas while increasing pressure on safer urban centres. These migration patterns have created uneven property price movements, making it harder to establish fair market values for residential, commercial, and industrial properties.

The professionals also pointed to inflation and the depreciation of the naira as major factors driving up the cost of land acquisition, building materials, labour, and infrastructure development. As construction costs continue to rise, replacement values for existing buildings have increased, requiring valuers to regularly adjust their assessments to reflect prevailing market realities.

Industry stakeholders noted that banks, insurance companies, developers, and investors rely on accurate property valuations when making lending, investment, taxation, and compensation decisions. They warned that inaccurate valuations could expose financial institutions and investors to unnecessary risks while affecting the credibility of Nigeria’s real estate market.

To address these challenges, valuation experts called for improved access to reliable market data, stronger collaboration among industry professionals, and wider adoption of technology-driven valuation systems. They argued that better data collection and standardised valuation practices would improve transparency and help the industry respond more effectively to changing economic conditions.

The stakeholders further urged government authorities to strengthen security, stabilise the macroeconomic environment, and support policies that encourage investment in the housing and real estate sectors. They maintained that restoring investor confidence is essential to improving market stability and ensuring more accurate property valuations.

Experts believe that while economic uncertainty may continue to influence the property market in the short term, stronger institutions, better market information, and sustained economic reforms will enhance valuation accuracy and support long-term growth in Nigeria’s housing and real estate sector.

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The Nigerian Institution of Estate Surveyors and Valuers (NIESV) has stressed that reliable, timely, and accurate housing data is critical to addressing Nigeria’s housing challenges, urging policymakers to adopt data-driven decision-making to improve housing delivery, land administration, and urban planning. The institution said credible information remains the foundation for effective housing policies and sustainable real estate development.

Speaking on the need for stronger data systems, NIESV President Bature Muhammad noted that estate surveyors and valuers play a central role in generating property market data that supports investment decisions, property valuation, infrastructure planning, and government policy formulation. He said dependable housing data is essential for tackling the country’s housing deficit and improving transparency in the real estate sector.

Muhammad explained that the absence of comprehensive and up-to-date housing data has contributed to poor planning, inefficient allocation of resources, and weak policy implementation. He called for stronger collaboration between government agencies, professional bodies, and private sector stakeholders to establish an integrated national housing data system capable of supporting long-term planning and investment.

The NIESV president also advocated greater use of digital technologies, including Geographic Information Systems (GIS), property databases, and digital land administration platforms, to improve the accuracy and accessibility of housing information across the country. According to him, modern data management tools would strengthen property registration, market analysis, and investment confidence while reducing inefficiencies in the sector.

Industry stakeholders observed that reliable housing data would enable governments to better understand housing demand, monitor market trends, identify infrastructure gaps, and design targeted affordable housing programmes. They added that improved data collection would also enhance mortgage financing, property taxation, and urban development planning.

The institution maintained that strengthening Nigeria’s housing information system is essential for creating a more transparent, efficient, and sustainable real estate market capable of supporting economic growth and improving access to decent housing for millions of Nigerians.

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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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The Rivers State Branch of the Nigerian Institution of Estate Surveyors and Valuers (NIESV) has unveiled plans to expand digital tools for its members.

Speaking at the Annual General Meeting (AGM) in Port Harcourt, Branch Chairman Nwankwo Nwokoma said the move will strengthen professionalism and ethics in the real estate sector.

Despite delays in engaging Governor Siminalayi Fubara, Nwokoma noted the branch made “remarkable progress” in the past year through campaigns on valuation standards and land administration.

Key achievements include a land pledge by Obio-Akpor Local Government for a new branch secretariat and policy input at national forums.

Members praised the administration’s vision. Board of Fellows Chairman, Ben Okoronkwo, described Nwokoma’s leadership as resilient, while Lagos-based member, Dike Stanley, commended the AGM for its innovation and transparency.

The meeting also stressed the need to fight quackery in real estate. “Valuation is, by law, the preserve of licensed practitioners,” said House Leader Ikenna Lansa.

Nwokoma closed with a call for members to diversify, advocate, and uphold ethics, adding: “When you stay ethical, the sky is the limit.”

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