ESVARBON Inducts 420 New Surveyors, Charts Tech-Driven Future at Golden Jubilee

Bennett Oghifo

The Estate Surveyors and Valuers Registration Board of Nigeria has inducted 420 new professionals into its register, even as it marked its 50th anniversary with a renewed call for ethical practice, technological adaptation, and institutional reform within Nigeria’s real estate sector.

Speaking at the combined induction ceremony and golden jubilee celebration held at the Oriental Hotel, the Acting Chairman of the Board, Terzungwe Timothy Dugeril, described the occasion as “epochal,” noting that it symbolised both continuity and renewal in the profession.

Dugeril said the induction of the new entrants followed rigorous assessments in line with the provisions of the governing law, bringing the total number of registered estate surveyors and valuers in the country to 7,954. He, however, acknowledged that the figure remained inadequate for a country of Nigeria’s size and expanding property market.

According to him, the Board faces the dual challenge of increasing the number of practitioners while maintaining high professional standards in an increasingly complex and technology-driven environment.

“In today’s fast-evolving global economy, it is not just about numbers but about the capacity of professionals to add value,” he said, stressing the need for continuous learning and adaptability.

He warned that the rapid advancement of Information and Communication Technology (ICT), big data, and Artificial Intelligence (AI) has disrupted traditional professional roles, urging practitioners to embrace innovation rather than resist it.

“The people we serve today are highly tech-savvy. If we fail to meet their expectations, they will look elsewhere,” he cautioned, adding that the adoption of data-driven methodologies and collaboration across the profession would be critical to sustaining relevance.

The acting chairman reiterated the Board’s zero tolerance for unethical conduct, noting that mechanisms were in place to discipline erring members and preserve public trust in the profession.

Reflecting on the Board’s journey since its establishment in 1975, Dugeril highlighted key milestones, including the standardisation of training through collaboration with tertiary institutions, continuous professional development programmes, and partnerships with global standard-setting organisations such as the International Valuation Standards Council.

Delivering the keynote address, Nweke Umezuruike lamented the absence of comprehensive historical records documenting the Board’s activities over the past five decades, describing the gap as a major institutional weakness.

Tracing the evolution of the Board, he recalled that it was established by Decree No. 24 of 1975, with Olufemi Akindahunsi as its pioneer chairman and Samuel Bayode Oludemi as its first registrar.

He noted that the early years of the Board were characterised by internal struggles and rivalry with the Nigerian Institution of Estate Surveyors and Valuers (NIESV), particularly over regulatory authority and professional examinations.

According to him, these conflicts were eventually resolved, leading to a more collaborative relationship between both bodies, which he described as “two sides of the same coin.”

Umezuruike also identified structural and operational challenges that have hindered the Board’s effectiveness over the years, including funding constraints, inadequate understanding of roles among key officials, and internal conflicts.

He criticised the lack of curriculum development in tertiary institutions, arguing that the traditional “Estate Management” framework no longer adequately reflects the diverse specialisations within the profession.

“The world has moved beyond general practice. There is a need for specialised training in areas such as valuation, land administration, property development, and asset management,” he said.

On regulation and discipline, he observed that the Board had not been sufficiently proactive in addressing professional misconduct, noting that only a few cases had been handled since inception.

He also called for the digitalisation of the Board’s records and operations, stressing that modern regulatory bodies must leverage technology to improve efficiency and transparency.

In his charge to the inductees, Austin Otegbulu emphasised the centrality of knowledge, ethics, and professionalism in practice, warning that ignorance and incompetence had no place in the profession.

He reminded the new surveyors and valuers that they owed a duty of care to their clients and could be held liable for professional negligence arising from poor judgment or unethical conduct.

“A professional without sufficient knowledge is an impostor,” he declared, urging them to commit to lifelong learning and continuous skills development.

Otegbulu underscored valuation as the core competence of the profession, noting that credibility in practice depends on adherence to established standards and the ability to respond effectively to changing market conditions.

He further highlighted the expanding scope of real estate practice, which now encompasses market analysis, investment advisory, property management, financing, and strategic decision-making.

“The modern professional must be a knowledge worker—capable of analysing data, solving complex problems, and delivering value-driven solutions,” he said.

He also stressed the importance of ethical conduct, listing integrity, honesty, confidentiality, and accountability as non-negotiable principles.

“Integrity is our greatest asset. Without it, the profession loses its credibility,” he added.

The ceremony, which featured goodwill messages, a documentary presentation, and networking sessions, brought together stakeholders from across the built environment sector, including government officials, academics, and industry practitioners.

As the Board enters its next phase, speakers at the event agreed that the future of estate surveying and valuation in Nigeria would depend largely on its ability to embrace innovation, strengthen institutional frameworks, and uphold the highest standards of professionalism.