ASSESSMENT OF WETLAND VALUATION PROCESSES FOR COMPENSATION IN THE NIGER DELTA, NIGERIA
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The issue of compensation has been debated in various fora; however compensation on wetland
resources has not been given the primary place. Wetland valuation like any other type of valuation
requires going through stages, which may be more complex than real estate valuation for
compensation. This study therefore examined the processes involved in the valuation of wetland
resources for compensation purposes with a view to establishing whether or not Estate Surveyors
and Valuers in the Niger Delta follow the appropriate steps in the conduct of wetland valuation. The
study employed survey method in collecting primary data. A total of 120 questionnaires were
administered on selected Estate Surveying and Valuation firms in Bayelsa, Delta and Rivers States,
out of which 72 of them were retrieved. The data collected were analysed and presented using
frequency distributions and percentages. The study showed that Estate Surveyors and Valuers in the
study area follow all steps however with 3.6% involved in determining wetland area. This may affect
the correct determination of the extent of damage done to wetland ecosystems. The study further revealed that that only 5.5% of the respondents took any course in environmental valuation during their undergraduate school days. They may not be able to properly appreciate of importance of wetland resources. The study therefore recommends that practicing Estate Surveyors and Valuers
would need to update their knowledge since wetland valuation for compensation has become a serious issue in the Niger Delta.
Keywords
TH Building construction