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Donnish Journal of Research in Environmental Studies

February 2016 Vol. 3(1), pp. 001-007

Copyright © 2016 Donnish Journals




Original Research Article


Rationalising the Contemporary Issues in the Valuation of Land for Infrastructural Development in Nigeria


Akujuru, V. A*. and Ogbonda, U. J.

Department of Estate Management, Rivers State University of Science and Technology, Port Harcourt, Rivers State, Nigeria.

Corresponding Author's Email: akujuru.victor@ust.edu.ng

Accepted 2nd February, 2016.



Abstract


Infrastructure developments occur on land compulsorily acquired following a valuation by valuers trained to ascribe value to any property. The valuations determine the compensations payable and the compensations aim at restoring land owners to their positions prior to the acquisition. Compensation provisions being statutory, require compliance, which raises several contemporary issues emanating from the use of statutorily dictated valuation methods which result in the payment of inadequate compensation that fails to restore the beneficiaries to their status-quo ante. Results of a questionnaire administered to valuers in the Niger Delta confirm the use of pre-determined compensation rates as the prescribed method of valuation, raising doubts about the professionalism of valuers and the equitability of the compensation practice in the provision of infrastructure. It is recommended that the valuer’s interpretation and application of relevant statutes can ensure the determination of adequate compensation that minimizes resistance to land acquisition for infrastructural development schemes in the Niger Delta.

Keywords: Infrastructure, Valuation, Valuers, Compensation rates, Compulsory acquisition.

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Cite This Article:

Akujuru, V. A. and Ogbonda, U. J. Rationalising the Contemporary Issues in the Valuation of Land for Infrastructural Development in Nigeria. Donnish Journal of Research in Environmental Studies 3(1) 2016 pp. 001-007.


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