CONTAMINATED WETLANDS VALUATION IN THE NIGER DELTA BY VALUERS: THE NEED FOR A PARADIGM SHIFT

Victor Akujuru

AfRES from African Real Estate Society (AfRES)

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.

Keywords: Contamination; Cross-cutting; Non-market goods; Paradigms; Valuation- methods; Valuers; Wetlands (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2014-09-01
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Persistent link: https://EconPapers.repec.org/RePEc:afr:wpaper:afres2014_108

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