Fashola tasks estate surveyors on land value regulation

The Minister of Power, Works and Housing, Babatunde Raji Fashola has charged the Council of Nigerian Institution of Estate Surveyors and Valuers in Nigeria (ESVRBON) to regulate values and rates of land across the country to end the disputes that often lead to huge compensation on the part of government.

Fashola urged the council to play its role in developing predictable rates for land in each local government area whether the place is developed or not across the country.

The minister stated this when the estate surveyors and valuers council members visited him in Abuja to discuss issues on property development and provision of professional services by estate surveyors and valuers.

On the National Housing Policy, the minister stated that the ministry did not have the resources to provide large scale housing projects. He said the ongoing 5 hectares mass housing projects across 33 states of the federation is a pilot scheme that will set the pace for affordability and acceptability for private sectors to key into.

Earlier in his remarks, the President of the Nigerian Institution of Estate Surveyors and Valuers, Dr Bolarinde Patunola-Ajayi said that the meeting would create synergy between the ministry and the institution, resulting in a robust and efficient management of the nation’s assets.