Estate Surveyors Positioned to Drive Nigeria’s Infrastructure Investment Through PPPs
Estate Surveyors and Valuers Poised to Bridge Nigeria’s $878B Infrastructure Gap via PPPs
Nigeria faces a significant infrastructure shortfall, projected to reach $878 billion by 2040. Experts in the real estate sector are emphasising the strategic role of estate surveyors and valuers in mobilising private capital to bridge this gap under the Public-Private Partnership (PPP) framework.
This perspective was highlighted during the 2025 National Mandatory Continuous Professional Development (MCPD) seminar hosted by the Nigerian Institution of Estate Surveyors and Valuers (NIESV) in Lagos. The event examined the revised Infrastructure Concession Regulatory Commission (ICRC) Act and its implications for private sector engagement in national infrastructure projects.
PPPs as a Mechanism for Infrastructure Delivery
The updated ICRC legislation establishes clear guidelines for federal agencies to partner with private investors. Large-scale projects exceeding N20 billion require Federal Executive Council approval, while smaller initiatives may be approved at the agency level. Multi-agency infrastructure developments automatically necessitate top-level clearance to ensure coordinated execution and reduce administrative bottlenecks.
Industry professionals highlighted that estate surveyors are central to the success of PPPs. Their expertise in project valuation, feasibility assessment, and risk analysis ensures that private investors can make informed decisions, while public funds are allocated efficiently. Accurate valuations also help determine the economic viability of projects and facilitate access to financing.
Enhancing Professional Standards and Capacity
Speakers at the seminar stressed that continuous professional development is vital. NIESV President Victor Alonge pointed out that professional valuations underpin critical regulatory frameworks, including insurance and investment legislation. By maintaining high standards and adhering to ethical practices, estate surveyors strengthen both market confidence and project outcomes.
Furthermore, adopting technology and specialised skills such as green building assessments, mineral resource evaluation, and digital valuation platforms positions professionals to meet the evolving demands of complex infrastructure projects. Seminar participants emphasised that integrating these competencies will enhance Nigeria’s ability to attract and sustain private investment.
Strategic Implications for National Development
The seminar concluded that estate surveyors are not only service providers but strategic partners in infrastructure delivery. Their involvement ensures rigorous project evaluation, mitigates financial and operational risks, and supports the development of viable, investor-ready projects.
By leveraging PPP structures and enhancing technical capacity, estate surveyors can directly influence the pace and quality of infrastructure development, contributing to economic growth and improved public services. This approach aligns professional expertise with national priorities, creating opportunities for sustainable impact in both urban and regional development.
