Real estate valuation critical in tackling building collapse – Minister

The Minister of Housing and Urban Development, Ahmed Dangiwa, has reiterated the crucial role of estate surveyors and valuers in preventing building collapses. He also noted that it is high time Nigeria knew the real value of its estate assets.

Speaking at the 2024 Valuers Assembly in Abuja themed ‘Valuation as a Tool for Revamping the Economy – The Role of Estate Surveyors and Valuers’, Dangiwa highlighted the importance of thorough property inspections and assessments in ensuring the safety and sustainability of buildings.

“Your professional expertise ensures that land and property values are accurate and reflect fair market values, which is crucial for the state to provide cost-effective housing solutions.

“Estate surveyors and valuers are critical in preventing building collapse by ensuring that property inspections and assessments adhere to professional standards,” he stated.

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In his opening address, the Chairman of the Estate Surveyors and Valuers Registration Board of Nigeria, ESV Dosu Fatokun, noted that “Expertise in valuation is not just a technical skill but a vital tool for economic revitalisation, especially in these challenging times,” adding that “you have to deploy technology in addressing these current issues.”