Valuation engineering crucial to Nigeria’s digital economy – Institute

The Institute of Appraisers and Cost Engineers (IA&CE) has made a call to harness the potential of engineers in valuation practice in Nigeria to entrench best practices among professionals and provide ethical conduct in financial reporting.

The National Chairman of the institute, Engr Ike Iwenofu, stated this at the 2024 IA&CE’s National Technical Conference, which was held in Abuja with the theme: “Sustainability and Ethical Practices in Appraisal, Cost Engineering and Engineering Economy in Nigeria”.

He disclosed that the institute would soon embark on massive advocacy, seminars, partnerships and collaborations to actualise “this promising” career path for engineers.

He said, “On the international front, the institute will participate at the biennial conference of the International Cost Engineering Council in Accra, Ghana, from 21st to 23rd October, 2024.

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“As an institute, we have continued to engage our members through capacity building, networking opportunities, strategic partnerships to foster collaboration with international and local organisations aimed at expanding our reach and impact in compliance with relevant laws, emerging technologies to enhance our efficiency to remain relevant and competitive in a dynamic environment.”

Engr Aloaye Wilson Alli, in his speech encouraged professionals in appraisal and cost engineering to embrace ethical principles and practices for a more efficient role in building a more sustainable and ethical future.

Founding Chairman of the institute, Engr Otis Anyaeji, said, “The institute has impacted its’ accredited professionals with skills in valuers engineering to enable them to evaluate the engineering based assets like highways, mines and factories, mercenaries and equipment, transportation equipment, airplane, ships and automotive vehicles.”