Enhancing Sustainability of the Niger Delta Environment through the Choice of Techniques for Valuing Contaminated Land

Christopher L. Deeyah and Victor A. Akujuru

Journal of Sustainable Real Estate, 2020, vol. 12, issue 1, 34-50

Abstract: This paper provides an overview of the professionally accepted factors that should guide the choice of techniques for valuing contaminated land affected by oil spills to ensure environmental sustainability in the Niger Delta. We review ways to improve current valuation approaches and the various factors estate surveyors and Valuers should consider in choosing a technique(s) to adopt. We administer a questionnaire to 60 Estate Surveyors and Valuers in the Niger Delta using purposive sampling to examine the current preferred method. Forty-six questionnaires, representing 76.7% of the total, were validly answered and returned. By applying the current method to the Bodo Oil Spill as a case study, we find that the resultant compensation is hardly adequate, that it discourages recipients from continuing in their occupation prior to the contamination, aggravates the poor community’s relationship between oil exploration companies and their host communities, and reinforces the perception that oil activities cause most problems in the Niger Delta. We conclude that the continued use of predetermined compensation rates endangers the environment and results in unsustainable practices that will sooner or later destroy the entire Niger Delta ecosystem. We recommend the adoption of methods suitable to the subject contaminated property and the incorporation of the impact duration as key factors in the choice of techniques for a sustainable contaminated land valuation.

Date: 2020
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DOI: 10.1080/19498276.2021.1918528

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