President and Chairman of Council of Nigerian Institution of Estate Surveyors and Valuers (NIESV), Victor Alonge, has said they would continue to play an active and leading role in raising awareness of asset valuation services globally as a member of the International Valuation Standards Council.

According to Alonge, though founded by only 20 national valuation professional organisations in Melbourne, Australia in 1981, they currently have more than 200 bodies and 70 valuation professional entities across more than 137 countries in the world.

He declared that Nigeria’s ongoing tax reform efforts will fail without the foundation of accurate and professional asset valuation.

Speaking at the 2025 International Valuation Day in Abuja, Alonge explained that as critical stakeholders in the nation’s development, “we would continue to engage, partner and collaborate with public and private sectors for advocacy drive and other key programmes that would benefit the citizens.”

He added: “Nigeria is currently lagging in undertaking credible valuation of its national assets. We have acknowledged the development, and that steps are being taken towards the realisation, but we believe much more needs to be done to achieve that objective.”

The NIESV boss argued that before imputing tax on an asset, they have to determine its true worth, its value, which must be firm and reliable, stressing: “We have proved to be invaluable allies in the growth and development of the real estate industry and the economic development of the country.

He highlighted that that the NIESV has a crucial advocacy push to reinforce awareness of the importance of valuation, highlight and espouse its critical contribution, and renew its call on decision makers at the public and private levels to imbibe the consciousness of valuation in their policy decisions.