Nigeria could unlock as much as ₦500 trillion in economic value through effective asset valuation across key sectors, according to the Nigerian Institution of Estate Surveyors and Valuers.
The institution made this known ahead of the 2026 International Valuation Day, emphasizing that valuation remains a critical but underutilized tool in driving economic transformation.
Valuation as a Catalyst for Economic Growth
Speaking on behalf of the institution, its president Bature Ali Muhammad highlighted valuation as central to unlocking wealth in sectors such as:
- Oil and gas
- Tax systems
- Solid minerals
He noted that beyond supporting a ₦500 trillion national budget ambition, valuation can also generate equivalent economic value by accurately determining the worth of assets and resources.
Supporting Government Reforms
The group acknowledged ongoing economic reforms by the federal government, stating that early signs of recovery are already visible. However, it stressed that a deeper restructuring of Nigeria’s economic framework is necessary to transition from recovery to sustained, high-growth development.
According to the institution, valuation plays a key role in this process by:
- Improving transparency in asset pricing
- Strengthening financial reporting
- Enhancing tax accuracy and revenue generation
Link to Tax Reform and Revenue Growth
The institution underscored valuation as a foundation for effective taxation, noting that accurate tax assessments depend on credible asset valuation.
This aligns with Nigeria’s broader push to improve revenue through tax reforms, where properly valued assets can:
- Prevent under- or over-taxation
- Increase government earnings
- Support fiscal stability
Professional Standards and Legal Backing
The group reaffirmed that valuation services are legally restricted to certified professionals under the Estate Surveyors and Valuers Registration Board of Nigeria, established by national law.
It warned against assigning valuation tasks to unqualified entities, stressing that:
- Estate surveyors are the only professionals trained and authorized to determine asset value
- The practice is governed by international standards aligned with the International Valuation Standards Council
These standards ensure consistency, transparency, and credibility, which are essential for investor confidence, regulatory compliance, and lending activities.
Strategic Importance for Nigeria’s Future
The institution concluded that valuation is not just a technical exercise but a strategic economic tool. By accurately pricing assets and strengthening fiscal systems, it can help Nigeria:
- Unlock hidden wealth
- Drive sustainable development
- Build long-term economic prosperity
In essence, experts argue that without a strong valuation framework, Nigeria’s broader economic reforms may struggle to achieve their full impact.
