The Chairman of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Rivers State Branch, Nwokoma Nwankwo, has urged Nigerians to embrace professional valuation as a strategic tool for unlocking the nation’s economic potential and driving sustainable development.

Nwankwo explained that valuation involves the professional assessment of the monetary worth of assets, including land, buildings, businesses and infrastructure, using established standards, data and expert judgment.

According to him, proper valuation helps uncover hidden wealth, supports informed investment decisions, improves access to credit and promotes transparency and accountability across sectors of the economy.

He stated this during the commemoration of the 2026 International Valuation Day in Port Harcourt, shortly after a sensitisation walk.

Nwankwo described this year’s theme, “Unlocking Nigeria’s Wealth: How Valuation Builds Our Prosperity,” as apt for a nation blessed with enormous but largely underutilised assets.

He noted that accurately valued assets could be transformed into opportunities for economic growth, infrastructure development and national prosperity.

The NIESV chairman further stated that a credible valuation system would strengthen the financial sector, boost investor confidence and enhance government planning, taxation and compensation frameworks.

He, however, warned that poor valuation practices could result in financial losses, market distortions and legal disputes.

Nwankwo reiterated that valuation practice in Nigeria is regulated by the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON), which ensures professionalism, accuracy and ethical standards in the industry.

He called on government agencies, financial institutions, investors and members of the public to recognise the importance of valuation in driving sustainable economic development.

The chairman also urged Nigerians to engage qualified Estate Surveyors and Valuers in determining the true worth of their assets, stressing that understanding value remains key to wealth creation and the nation’s economic future.