Factors Influencing the Choice of Wetland Valuation Methods in the Niger Delta, Nigeria

Abstract

The focus of wetland valuation is on determining the compensation payable to the expropriated individuals or communities. In the conduct of wetland valuation, the Estate Surveyor and Valuer is faced with choosing the appropriate method(s) to adopt, hence this study examined the various factors considered by the Estate Surveyor and Valuer in choosing the method(s) he adopts. Seventy – two (72) questionnaires were retrieved, collated, analysed and presented using frequency distributions and percentages, relative importance index (RII) and principal component analysis (PCA). The study revealed that in valuing wetland resources, data availability and accessibility (RII = 4.16), availability of substitute sites (RII = 3.49), limitations of valuation methods (RII = 3.47) and people’s perception (RII = 3.00) are the major factors considered in the choice of wetland valuation method(s). The study further revealed that only 5.5% of the respondents took any course in environmental valuation while in school. Also, the course has not been included in the professional examinations conducted by the Nigerian Institution of Estate Surveyors and Valuers (NIESV). The paper recommends that both NIESV and higher institutions offering Estate Management courses should include environmental valuation in their curriculum, to ensure that Valuers are properly trained in the use and application of appropriate techniques of environmental valuation.