The Honourable Minister of Power, Works and Housing, Babatunde Raji Fashola, SAN, has charged the Council of Nigerian Institution of Estate Surveyors and Valuers in Nigeria to regulate values and rates of land across the country, adding that this will bring an end to reoccurrence of disputes that often lead to huge compensation on the part of government.
Fashola noted that ‘’the Council is expected to play its role in developing a regime of predictable rates for land in each local government area whether the place is developed or not across Nigeria’’.
The Minister made this remarks at the Ministry’s headquarters in Abuja when he received the Council members who came to discuss critical issues that bothers on property development and provision of professional services by Estate Surveyors and Valuers.
He stated that the Buhari administration is poised with the implementation of the International Public Sector Accounting Standards (IPSAS) in all the Ministries Departments and Agencies (MDAs) to ensure accountability in the public sector and building the capacity of civil servants.
He expressed pleasure receiving the Council members particularly as they engaged the ministry on developmental issues in rebuilding the nation’s economy.
On the National Housing Policy, the Minister stated that the ministry does not have the large scale resources to build permanently, adding that the on-going 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, on behalf of the Council members expressed their deep appreciation to the Minister for the meeting. He added that the meeting will create a channel of synergy and profitable collaboration between the ministry and the institution resulting in a robust and efficient management of the nation’s National Assets.
The President informed the Minister that the Nigerian Institution of Estate Surveyors and Valuers as a major stakeholder in national land resource development and management performs among others the following functions, advice the government on land and housing policies and their implementation; generate revenue for government through the various services rendered and registration of titles to landed properties granted by the federal government.
Patunola-Ajayi stated that following the adoption of the International Public Sector Accounting Standard (IPSAS) policy by the federal government, he enjoined the Ministry to set up implementation committee in all departments and agencies of the ministry for IPSAS compliance.
For: Director, Information