- Call to Action: Estate surveyors urge government and councils to fix tenement rate administration.
- Why It Matters: Proper management can boost economic growth and improve public services.
- Who’s Involved: The Nigerian Institution of Estate Surveyors and Valuers (NIESV) is leading the charge.
- Key Solution: Involving licensed estate surveyors and valuers in managing tenement rates.
- The Goal: Increased revenue for local councils to meet community needs.
Tenement Rate Administration: Nigeria’s Untapped Goldmine?
Imagine local councils swimming in cash, enough to fix roads, build schools, and keep the lights on. That’s the potential of tenement rates – but only if they’re managed right. The Nigerian Institution of Estate Surveyors and Valuers (NIESV) is on a mission to make this a reality.
Why the Fuss About Tenement Rates?
Tenement rates, basically property taxes, are a goldmine for local councils. But, like any mine, you need the right tools and expertise to extract the treasure. According to NIESV, the current system is riddled with problems, from inaccurate valuations to outdated collection methods.
NIESV’s Prescription for Success
So, what’s the solution? NIESV is crystal clear: bring in the experts. They argue that licensed estate surveyors and valuers are the best people to handle tenement ratings. Why? Because they know property values inside and out. They can ensure fair and accurate assessments, which means more money for the councils.
Mr. Emma Wike, a past president of NIESV, hammered this point home at the 31st John Wood Ekpenyong yearly memorial lecture. He said that while tenement rates have been controversial in the past, effective management can lead to serious income for local authorities, especially if challenges are tackled head-on.
The Role of Estate Surveyors and Valuers
According to Wike, estate surveyors and valuers are vital for nation-building, particularly when it comes to generating revenue and creating wealth for all levels of government. They’re not just number crunchers; they’re strategic thinkers who can help councils maximize their income potential.
A Call for Institutional Framework
NIESV President, Mr. Victor Alonge, is calling on local councils to create a solid institutional framework. This means bringing in licensed estate surveyors and valuers to manage tenement rates and all property-related taxes. The result? A more effective and efficient system that benefits everyone.
New Fellows Charged to Uphold Standards
At the induction of 148 new fellows, Alonge urged them to show quality leadership, especially to younger members of the profession. He emphasized the importance of adhering to professional ethics and standards, and using technology to make positive changes.
Government Support is Crucial
The Minister of Housing and Urban Development, Ahmed Dangiwa, agrees that innovative solutions are needed. He highlighted the importance of leveraging technology to improve data collection and strengthen the legal framework. He also pledged the ministry’s support for initiatives that promote efficient tenement rate administration.
Past President’s Advice
Sir Rowland Abonta, a past president of NIESV, advised the new fellows to embrace good leadership and work together for the growth of the institution. He also warned against attempts to create parallel leadership structures.
The Bottom Line
Repositioning tenement rate administration is not just a technical issue; it’s a matter of economic development. By embracing innovation, involving qualified professionals, and fostering collaboration, Nigeria can unlock the full potential of this vital revenue source. Time to get serious about property taxes!