NIESV Advocates Strategic Reforms to Boost Tenement Rate Administration | ClipTV Online

Nigerian Institution of Estate Surveyors and Valuers (NIESV) has emphasized the need for strategic reforms in tenement rate administration. NIESV recognize this as a potential for sustainable revenue source in local councils. Addressing the existing challenges and implementing a structured framework the institution believes local governments can unlock substantial income. Local Council will improve public services, and drive economic growth, development, and stability of properly implemented.

This position was reiterated by past NIESV President, Mr. Emma Wike, at the 31st John Wood Ekpenyong Memorial Lecture held in Lagos. The event, which also featured the induction of 148 new fellows and the conferment of an honorary fellowship on Senate President Dr. Godswill Akpabio, focused on the theme: “Repositioning Tenement Rate Administration for economic development, and stability.”

Wike noted the controversies that have historically plagued tenement rate administration. However, he stressed the need for efficient system, managed by qualified professionals, could transform it into a significant revenue stream for local authorities. Stating that estate surveyors and valuers possess the expertise required for proper tenement rating and called on councils to establish institutional frameworks that ensure licensed professionals oversee property-related tax administration.

“Estate surveyors and valuers play a crucial role in national development, particularly in revenue generation and wealth creation for all levels of government,” Wike stated. “With this, local councils can increase their financial ability, strengthen the financial capacity and better serve their communities with the structured system.”

NIESV Ethical Standards

Mr. Victor Alonge, NIESV president applaud the contributions of late John Wood Ekpenyong to the profession. Alonge described his legacy as a benchmark for integrity and professionalism. Alonge urged urged the inducted fellows to uphold high ethical standards and provide exemplary leadership within the profession.

“It is expected that you inspire and mentor younger professionals while upholding the principles of the institution,” he said. “Commitment to professional ethics and continuous skill development is essential, especially in today’s rapidly evolving digital landscape.”

Alonge further warned against any activities that undermine the institution, noting that violations of professional ethics would attract severe sanctions. He charged members to leverage on evolving technology for enhanced service delivery. Stating it will aid policy implementation in the real estate sector.

Akpabio Contributions Noted

Furthermore, the event featured conferment of an honorary fellowship on Senate President Dr. Godswill Akpabio. His immense contributions to the advancement of the profession and institution being recognized.

In his remarks, Hon. Ahmed Dangiwa, Minister of Housing and Urban Development called for innovative solutions to tenement rate administration. He further discussed the role of technology in improving data collection. Dangiwa state that technology will improve policy awareness, and legal compliance. He reaffirmed the ministry’s support for initiatives that are aimed at enhancing tenement rate administration. adding that optimizing the process could unlock new opportunities for national development.

Sir Rowland Abonta, a past NIESV president who chaired the event, urged the new fellows to embrace good leadership, support the growth of the institution, and resist any attempts to create parallel leadership structures.

The event underscored NIESV’s ongoing commitment to advancing best practices in estate management and public finance. NIESV is positioning tenement rate administration as a key driver for local government revenue enhancement.