The Nigerian Institution of Estate Surveyors and Valuers (NIESV) has emphasized the importance of integrating ground rent collection into Nigeria’s housing finance model to enhance affordability and generate sustainable government revenue. During the 2025 Estate Surveyors’ Week in Lagos, Gbenga Ismail, Chairman of the Lagos State chapter, highlighted the need for affordable land access coupled with a robust ground rent system.
Ismail proposed that the government provide land at marginal costs, allowing builders to amortize payments over time. This approach would enable developers to construct properties while the government earns revenue through ground rent and related housing fees. He noted that over 70% of finishing housing products are imported, making affordability a significant challenge for the average Nigerian.
Regarding the proposed monthly rent payment scheme in Lagos State, Ismail advised that the initiative be supported by clear legal frameworks, incentives for compliance, and infrastructure to ensure effective enforcement. He recommended a phased implementation, starting with government estates before extending to privately owned properties. Additionally, he stressed the importance of balancing tenant protection with the sustainability of landlords’ investments.
Ismail also shared achievements from his tenure, including the expansion of membership and the introduction of Mandatory Professional Continuous Development programs, which have enhanced the skill set and confidence of Lagos Estate Surveyors & Valuers. These initiatives have distinguished the Lagos branch in terms of professional development and practice standards.
The NIESV’s advocacy underscores the critical role of ground rent in creating a sustainable and equitable housing finance system in Nigeria.
