Business
Estate Expert Profers Solutions To Valuation Challenges
An expert and prac
titioner in the real estate sector, Dr (Mrs) I.B. Kakulu, has urged estate surveyors and valuers to always give professional advice to their clients for the purpose of redevelopment especially on the issue of valuing property or land considered contaminated.
She said what should be upper-most in the mind of the valuer in such situation is the loss in income to the owner or occupier of the land.
Kakulu, a lecturer in the estate management department of the Rivers State University of Science and Technology (RSUST), who was speaking in a forum on valuation in Port Harcourt, said what should be the focus of valuers on such valuation challenge is the highest or best use of the contaminated land.
Other things, she said, should be of importance to the valuer is determine whether the land is stigmatised as to find out the risks involved.
She said “you can not tie a valuer to one method of valuation.
The valuer as a professional will use his discretion to determine the best approach to valuation.”
The university don admitted that compensation and valuation is a major challenge all over the world, and not limited to Nigeria, stressing that a report on contaminated land is what the valuer will use as a tool for his valuation report.
On the land use act, she posited that the assumption that the land use act has transferred land ownership to state governors is not true, pointing out that there are still traditional land in communities.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.