…Unveils Activities for Maiden 2026 NIESV Week
The Nigerian Institution of Estate Surveyors and Valuers (NIESV) has asked the Ondo State Government to consider demolishing staff quarters to pave the way for new structures on the land.
The chairman of the state branch of NIESV, Dr Akintomide Akinlabi, said the land on which those structures are erected should be put to its best use for the benefit of the entire citizens of the state.
Addressing the media briefing ahead of the 2026 NIESV Week, Akinlabi said the value of those lands has risen to a level where the existing structures on them are at a disadvantage.
According to him, “Government should provide alternatives, but sometimes redevelopment is about putting land to its highest and best use in the public interest. These are areas where no land is less than ₦50 million. If you put a structure worth ₦5 million on such land, it does not make economic sense.
“I am not speaking for the government, but as a professional, some structures are depreciating the value of the land. The government may be trying to put the land to better use in the interest of the public. Staff housing is a privilege. Government staff usually have housing allowances.
“The government may have plans to provide alternatives. But the truth is that some of those areas are overdue for renewal. By the time projects are completed, people may appreciate the transformation.”
Also, the institution blamed the astronomical increase in house rent in Akure, the state capital, and other state capitals in the country on the cost of land and building materials.
He, however, said the government cannot regulate house rent because of its inability to provide affordable housing to the citizens.
He said, “You cannot control what does not belong to you. The government’s attempt to regulate rates is not the appropriate way to approach it. Let the government see housing as a social service, and let the government invest heavily in residential estates. Where there is sufficient supply to meet the demand, basic forces of demand and supply will naturally bring rents down.
“If I have my building, a three-bedroom flat, and I say I want to take one million, and one month, two months, three months, nobody is taking it, I will be forced to bring the rent down.
“But as it is now, there is a shortage of housing supply. Secondly, let the government approach it the right way. If you don’t want to discourage people from investing in real estate.
“Let the government make funds available for real estate development at single-digit interest rates so that property development becomes affordable. The third approach is the cost of building materials.
“It is garbage in, garbage out. If the cost of building materials is high, the output cost will also be high. We have to be realistic with ourselves. Talking about it on air is not the issue.
“Let us look at the fundamentals. What are the reasons for high rents, so that we can tackle them appropriately? I cannot advise a client who invested 20 million to collect a token as rent.
“Such an investor would rather put the money into other investments like stocks. The moment that is done, we continue to have a shortage of housing supply. Demand will continue to be higher than supply. So let the government work on the area of supply. If sufficient supply is provided, rent will come down naturally.”
Speaking on housing estates, Akinlabi said some estates allocated under housing corporations are not being developed by beneficiaries because of a lack of social amenities, including electricity, water, and roads. He advised the government to provide infrastructure in the new estates developed by the government.
However, Akinlabi asked the public to stop patronising quacks who parade themselves as house agents. He said once the public stops patronising them, they would be forced out of the market.
He added, “Anywhere you get to, and they ask you to pay for a form or inspection fee before showing you a property, that is not proper professional practice. Such a person is likely a quack.
“Another way to identify them is by listing all kinds of properties on boards in front of their shops; two-bedroom, three-bedroom, four-bedroom, and before you know what is happening, they take you to an uncompleted building after you have paid for inspection and form fees. It is because the public is patronising them.”
Unveiling of activities lined up for the maiden NIESV Week in the history of the Ondo State Branch, Akinlabi described the initiative as a strategic platform for professional reflection, unity, accountability, and public engagement.
He said activities commenced on Monday with a press briefing at the NIESV House in Alagbaka, followed by a novelty football match between NIESV and the Ondo State Branch of the Nigerian Institution of Surveyors at the FUTA Sports Complex.
Other activities scheduled for the week include a keep-fit exercise from Old Garage to NIESV House, a quiz competition involving tertiary institutions, and a Mandatory Continuing Professional Development programme.
The programme also features a NIESV Women’s Forum, a Young Surveyors’ Forum, an award ceremony, and the launch of the branch’s newly acquired 18-seater bus at Dejavu Hotel, Alagbaka.
A dinner with members in the diaspora and the Branch’s Annual General Meeting will round off the week-long event.
