A comparison of wetland valuation purposes in Lagos Metropolis and the Niger Delta, Nigeria

Abstract

Valuation assignments are carried out for various purposes usually determined by the client. Various studies showed that, in addition to the general purposes, wetland valuation could also be required for conservation, rating of oil installations and environmental restitution. The study compared wetland valuation purposes between Lagos Metropolis and the Niger Delta, Nigeria. A total of 163 copies questionnaire were retrieved from Lagos Metropolis while 72 were retrieved from the Niger Delta. In analysing the primary data collected, frequency tables and percentagewere adopted. The study revealed that respondents perceived wetland as swampy land, marchland, poorly drained land and infested land. Also the study showed that wetland resources are majorly carried out for loan facilities (98.8%, RII = 4.15) and advice on sales (85.1%, RII =3.49) in Lagos Metropolis while the prominent purposes for wetland valuation in the Niger Delta are compensation (94.4%, RII = 3.85), rating of oil installations (69.4%, RII = 3.76) and environmental restitution (66.7%, RII = 3.31). The study recommends that NIESV and ESVARBONshould compel institutions offering Estate Management to include environmental valuation as a core course and also organise regular professional training/workshop for practicing Estate Surveyors and Valuers. Also, NIESV should incorporate environmental valuation in the curriculumfor professional examinations.