‘Asset valuation key to economic growth’

The Chairman of the West Africa Chapter of the Africa Real Estate Society, Adediran Adetunji, has described asset valuation as the backbone of wealth creation and a major driver of economic development. Adetunji stated this in Abuja at the 2026 International Valuation Day organised by the Nigerian Institution of Estate Surveyors and Valuers. Speaking on […]

The Chairman of the West Africa Chapter of the Africa Real Estate Society, Adediran Adetunji, has described asset valuation as the backbone of wealth creation and a major driver of economic development.

Adetunji stated this in Abuja at the 2026 International Valuation Day organised by the Nigerian Institution of Estate Surveyors and Valuers.

Speaking on the theme, “Unlocking Nigeria’s Wealth: How Valuation Builds Our Prosperity,” he noted that Nigeria’s inability to fully harness its potential has contributed to the country’s economic challenges.

“Valuation is not merely a technical exercise; it is the key that turns dormant assets into active capital. Without credible and professional valuation, assets cannot be properly insured, used as collateral for loans, securitised for investment, or transparently taxed,” he said.

He said the nation’s true wealth would remain untapped if assets are not professionally valued to support growth, job creation and public infrastructure financing.

He added that effective valuation practices could significantly accelerate Nigeria’s economic transformation and boost development.

Adetunji called on the government, private sector and other critical stakeholders to invest in capacity building for valuation professionals and adopt international best practices.

He also urged property owners, investors and business leaders to view valuation as a tool for prosperity rather than a regulatory burden.