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Contaminated Wetlands Valuation In The Niger Delta By Valuers: The Need For A Paradigm Shift

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  • Victor Akujuru

Abstract

Professional valuers valuing contaminated wetlands in the Niger Delta, frequently resort to the normative valuation methods learnt in their trainings. When determining the damages due to contamination, the valuers’ normative methods prove to be unsatisfactory as many of the non-market goods are not captured in the process. Adopting a quantitative approach, practicing valuers were questioned on their practice. It was found that valuers are deficient in their knowledge of wetland valuations and not conversant with the valuation methods used successfully be ecologists to value wetlands. Highlighting the composition and functions of wetlands, the study recommends a paradigm shift by valuers, to adopting cross-cutting methods of valuation when determining compensation payable for damages due to contamination in the Niger Delta region of Nigeria.

Suggested Citation

  • Victor Akujuru, 2014. "Contaminated Wetlands Valuation In The Niger Delta By Valuers: The Need For A Paradigm Shift," AfRES afres2014_108, African Real Estate Society (AfRES).
    • Handle: RePEc:afr:wpaper:afres2014_108
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    Keywords

    Contamination; Cross-cutting; Non-market goods; Paradigms; Valuation- methods; Valuers; Wetlands;
    All these keywords.

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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