Repositioning tenement rate administration is pivotal for achieving economic growth and development. Although some controversies have often marred the process in the past, effective administration of tenement rating can generate substantial income for the relevant authorities. This is however, premised on the fact that the challenges are confronted directly says a former President of Nigeria Institution of Estate Surveyors & Valuers( NIESV) Chief Emmanuel Okas Wike. He spoke at the 31st Annual John Wood Ekpenyong Memorial Lecture and 2025 Fellows’ Induction Ceremony of the Nigerian Institution of Estate Surveyors & Valuers (NIESV) in Lagos over the weekend.He spoke on a theme ‘Repositioning Tenement Rate Administration For Economic Growth & Development’.He urged local governments to establish a proper institutional framework, with licensed Estate Surveyors and Valuers managing the administration of tenement rates and all property-related taxes. According to him this approach will enhance the effectiveness and efficiency of the process.He said: ‘By implementing this framework, local governments will not only increase their income but also empower themselves financially to better meet their responsibilities to their communities’. In his paper he advised that Estate Surveyors and Valuers are the right professionals to manage tenement rating, as they possess the expertise required for this task. He further explained that Estate Surveyors and Valuers play a crucial role in nation-building, particularly in the areas of revenue generation and wealth creation for all levels of government which in turn will contribute to improved public services, infrastructure development, and economic stability.’Studies have highlighted that well-structured tenement rate systems can significantly contribute to urban development and poverty alleviation.Wike explained that the tenement rate, often categorized under property tax, is a levy imposed on buildings based on their rental value. He noted that according to economic theories of taxation, property taxes are pivotal for local revenue mobilization, reducing dependence on external funding sources According to the former NIESV President, this process requires a high level of professionalism, which only Estate Surveyors and Valuers can provide.He therefore called on local governments to see Estate Surveyors and Valuers as key partners and co-drivers in fostering economic growth and development’The expertise of the Estate Surveyor and Valuer is required in unlocking vital sources of land-based taxation, tenement rates and ground rents, undertaking rating valuation to determine the rates payable to the coffers of the local governments’. He also stated that they are properly trained to carry out rating valuation, in addition to being able to assist in collection of the rates. He advised that the country cannot afford to keep losing income making it necessary to reposition Tenement rate administration for economic growth and development.’ In today’s Nigeria, where widespread hunger, unemployment and poverty undermines rapid economic development, where federal allocation is grossly inadequate to enhance infrastructure development and provision of essential services, Internally Generated Revenue, including tenement rate would go a long way in boosting local government income, provision of services and amenities, economic growth and development’. But it must be handled by professional Estate Surveyors and Valuers. This is the only way to ensure that tenement rate administration would facilitate access to a stable revenue base, enhance job and wealth creation, economic development and nation building he added.
Earlier, NIESV President, Victor Adekunle Alonge advised those who were conferred the Fellowship of the Institution to uphold the ethics of the profession and practice the profession in dignifying manners. Also, he spoke on the need for retraining and up-skilling to be competitive as professionals.He said: ‘ Estate Surveying profession is evolving, and so are developments within the real estate space. Council in recognition of this prioritised skills acquisition for best practices in line with current global trends’.
