The President and Chairman of Council of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), ESV Bature Ali Muhammad, has called on the Federal Government to increase the supply of affordable housing to address the persistent rise in rents across the country.

He made the appeal during a press conference ahead of the institute’s 2026 International Valuation Day in Abuja, noting that while the body cannot enforce rent control on landlords, expanding access to affordable housing would help stabilise the market.

Ali Muhammad explained that the annual event, observed on May 5, serves as a strategic advocacy platform to promote awareness of valuation practices, highlight their role in economic development, and encourage policymakers in both the public and private sectors to recognise the importance of valuation in decision-making.

“As a critical stakeholder and key driver of Nigeria’s economic development, the Nigerian Institution of Estate Surveyors and Valuers is using this opportunity to remind government, policymakers, government agencies, institutions, the organised private sector, and other stakeholders that valuation is a critical process in unlocking Nigeria’s vast resources, economic potentials, wealth, and in building economic prosperity,” he said.

He added that estate surveyors and valuers remain critical partners to government, especially within the ongoing tax reform regime.

“That makes Estate Surveyors and Valuers critical partners to government in the current tax reform regime, and this tells me that without the role and influence of Estate Surveyors and Valuers within the Nigerian economic development context, it would be very difficult for the nation to advance in economic development,” he stated.

The NIESV president further stressed that the profession’s enabling law, the Estate Surveyors and Valuers Registration Board of Nigeria Decree No. 24 of 1975, now CAP E13 LFN 2007, recognises valuation practice as the sole responsibility of estate surveyors and valuers.

According to him, estate surveyors and valuers are specially trained professionals equipped with the analytical expertise required to determine the current or projected worth of assets.

He reiterated the need for stronger collaboration between government and industry professionals to improve housing delivery, strengthen the property market, and support Nigeria’s broader economic development goals.

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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.

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Real estate professionals have called for urgent reforms to rebuild public trust, strengthen ethics, and align Nigeria’s property market with global standards.

This was the focus at the 7th Real Estate Summit of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Lagos Branch, held on Tuesday with the theme “Building Trust and Driving Excellence in Real Estate Practice.”

NIESV Lagos Chairman, Tosin Kadiri, said trust remains the foundation of a stable market. “Real estate is not just about land or buildings—it’s about people’s homes and investments,” he said, urging practitioners to uphold transparency, integrity, and due diligence.

Former NIESV President Emeka Eleh noted that the sector’s problem is not the lack of standards but weak adherence to them. He called for better data management, stronger regulation, and the use of technology to modernize land administration.

Keynote speaker Yemi Ejidiran, former MD of Wemabod Limited, stressed that credible valuation is essential to restoring confidence. “Valuation is not just figures; it’s about accountability,” he said, calling for standardization and ethical compliance.

Lagos Land Bureau’s Permanent Secretary, Kamar Olowoshago, praised NIESV for promoting professionalism, saying the summit helps shape the sector’s future through shared insights and innovation.

The two-day event featured panel discussions on ethical reform, sustainable housing, and innovative financing in Nigeria’s real estate industry.

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