Surveyors push for reliable real estate data in Nigeria

The Nigerian Institute of Estate Surveyors and Valuers (NIESV) Abuja Branch has advocated for a robust and unified real estate data infrastructure to tackle issues surrounding the untrustworthiness of property market data and the necessity of enhanced valuation standards in Nigeria. ESV Chukwuebuka Anih, the Branch Chairman, emphasized this point during the institution's 2026 Mandatory Continuing Professional Development (MCPD) Seminar held at Police Resource Centre, Abuja.

Speaking at the seminar titled "Building a Credible Data Ecosystem for Professional Real Estate Practice in Nigeria," Anih stressed that the quality of professional advice and valuation opinions largely hinges on the reliability of available data. He pointed out that estate surveyors and valuers frequently encounter difficulties in obtaining dependable information on property transactions, rental values, and market evidence, often resorting to personal records, informal inquiries, and information acquired from colleagues.

Anih stressed the need for a coordinated system for the collection, verification, analysis, preservation, and responsible sharing of real estate information. He pointed out, "Building a credible data ecosystem requires more than the efforts of the Committee or the Institution alone. Every practitioner has a role to play. We must cultivate the habit of documenting transactions, sharing relevant market information, embracing technology, and contributing to a stronger professional knowledge base."

Anih called upon members to actively participate and engage with the seminar's resource persons, ensuring that the discussions translate into actionable steps, thereby enhancing individual practices and fortifying the profession overall. He concluded by stating, "The future of our profession will depend on our ability to adapt, innovate, and consistently uphold professional standards. Reliable data must become an integral part of how we practice, not merely an aspiration."

Folarin Akinlotan, the Chairman of the MCPD Committee, ESV, highlighted the seminar's relevance to the profession's future, given the increasing reliance on reliable data in ethical practice, informed decision-making, and sustainable development. He noted that fragmented, unreliability, and inaccessibility of data have persistently posed challenges to professional practice.

Akinlotan emphasized that without credible information, accurate property valuation, astute investment advice, and sustainable development would be difficult to achieve. He stated, "In an era defined by rapid technological advancement and evolving market dynamics, credible data is no longer optional. Transparency, strengthening public trust, and delivering advisory services that meet global standards are essential.

It empowers us to uphold professionalism, enhance our standing, and contribute meaningfully to society." The seminar also saw the inauguration/investiture of the Abuja Branch's executive committee, signifying a significant step in the leadership and administration of the institution.