The Nigerian Institution of Estate Surveyors and Valuers (NIESV) has urged Nigerians to take deliberate interest in valuing the true worth of their Assets as a driver of prosperity and national development.

The Chairman of NIESV, Rivers State Branch, Nwokoma Nwankwo, FNIVS, who gave the advice, noted that widespread apathy towards asset valuation among Nigerians constitutes a setback to national growth.

Nwankwo was speaking in Port Harcourt to the theme, “Unlocking Nigeria’s Wealth: How Valuation Builds Our Prosperity” as part of the Rivers NIESV activities marking the International Valuation Day.

Describing valuation as a critical yet often underappreciated tool in Nigeria’s economic architecture, Nwankwo said the concept is not merely a technical exercise but a strategic process that determines true monetary worth of assets -including land, buildings, businesses, and infrastructure -at a specific date, for a defined purpose in best practices.

“Valuation forms the foundation for informed decision-making across multiple sectors. From investment and lending to taxation and compensation, accurate valuation ensures economic decisions are grounded in reality rather than speculation. Know the value of what you own”, he reflected.

Nigeria, he noted, possesses vast but underutilised assets, as proper valuation can reveal hidden economic potential and convert dormant resources into active wealth.

He listed a boost to investor confidence, enhanced government planning and efficient resource allocation, improved access to credit, transparency on transactions, and strengthening overall economic stability among the benefits of honest valuation.

He further identified key stakeholders as government agencies, financial institutions, property owners, developers, and the general public as direct beneficiaries.

He said, “In essence, valuation touches every part of the economy, cautioning, however, against dangers of poor or inaccurate valuation which could lead to financial losses, legal disputes, failed investments and diminished investor confidence as factors that could ultimately hinder national development.