The Value Added Tax (VAT) Administration in Nigeria and the Practice of Estate Surveying and Valuation

Value Added Tax (TAX) is a consumption tax chargeable on the value added to a product in the process of production. Like all other indirect taxes, it is a tax that targets the final consumer of goods and services. The purpose of VAT in Nigeria is to increase governments’ (federal, state and local) revenue from non-oil sector thereby reducing the government’s dependence on oil revenue majorly. This study evaluates the effect of VAT on Estate Surveyors and Valuers practice and their clients. Based on secondary data and personal interviews with eight principal partners of Estate Surveyors and Valuers firms in Ikeja axis of the Lagos metropolis, the study revealed that VAT has a significant effect on the spendable income accruable to the clients of the practising Estate Surveyors and Valuers and by extension the income of the Estate Surveying and Valuation firms since these clients often see the firms as the agents of government being the channels through which government collect VAT on the services they render to clients. The study recommends adequate enlightenment of property owners and by extension all whose goods and services are VATable.    Â

TOWARDS A VIABLE LANGUAGE OF HUMAN RIGHTS ACTIVISM IN NIGERIA

This paper explores the possibilities of achieving a viable language of human rights activism in contemporary Nigeria. It argues that the style of language of human right activists is predominantly violent, harsh and incapable of achieving the crucial goals and visions of human right activism in Nigeria: The methodology is analytical and empirical. In its analytical approach, it discusses the meaning and roles of language in societal cohesion. Its empirical character derives from the collation and analysis of data of some selected speeches of Nigerian activists on violation of citizens’ human rights, conflict resolution and effective democratization process. Finally, while recognizing the pivotal role of human rights activism in contemporary Nigeria, the paper emphasizes the need to inject humane linguistic items that reflect a measure of respect, integrity and modesty in the language style of human rights activists. This is necessary in order to achieve dialogue, understanding and consensus on controversial issues among human rights activists, government functionaries and stakeholders in the Nigerian state. This is the only viable path to sustainable democracy and human development

The Role of Education towards Achieving Sustaining Housing and Environmental Development in Nigeria

 Education constitutes the most effective means that the society needs to confront the challenges of the world. Succinctly put, the sustainable progress of man depends wholly on educated minds in every walk of life. It is the major factor that can be used to create enduring relationships among people and foster greater respect for the needs of human beings in any situation on earth. The paper examines the possible ways of sustaining existing low-cost housing estates in Lagos State, Nigeria. Lessons from experiences of developed nations on low-cost housing estates welfare mechanisms as it relates to the basis of allocation, usage, periodic maintenance, transferability and social cohesion were ascertained from literature and compared with existing situations in Lagos State. Findings showed that there is need for continuous life learning efforts to be embarked upon and sustained by the three tiers of government in Nigeria towards achieving sustainable housing and environmental development. The study recommends that the three arms of government need to embark on educational re-orientation of Nigerians on sustainable home ownership built on equitable, social, economic and political fair play

Defective Selection and Application of Valuation Data as the Cause of Valuation Inconsistency in Metropolitan Lagos, Nigeria

There has been increasing criticisms of the ability of Nigerian valuers to undertake investment valuations in a reliable and consistent manner. The earlier studies have focused mainly on the range of disparity between either the sale prices and valuation figures or between the valuation figures of two or more valuers. This study however sought to examine the roles of training and exposure to valuation inputs/data often employed in investment valuation by the professional valuers plays in the disparity/variance of the valuation figures produced by the valuers in cases where two or more valuers may have cause to carry out the valuation of the same property(ies) at about the same time/period. To achieve the aim of the study, the researchers employed quasi-experimental method whereby forty five estate surveyors and valuers with varying number of years in practice were sampled by requesting them to carry out valuation of twelve residential properties recently sold within Lagos Metropolis, the study area. The results of their valuations showed wide disparity/variance in the valuation outcomes between and amongst the valuers. These wide variance/disparity is traceable largely to lack of uniformity in the choice of valuation inputs employed by the valuers for valuation assignments and which has direct link to the training received by the respondent valers. The study concluded that there is the need by the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON) and the Nigerian Institution of Estate Surveyors and Valuers (NIESV)  to take up the responsibility of ensuring that for any Estate Surveyor and Valuer to qualify to carry out valuation assignment(s) such Estate Surveyor and Valuer must have undergone sufficient training and acquire relevant exposure to the art and science of valuation which will afford them opportunity of how to employ relevant valuation data and inputs with a view to curtailing the problem of disparity in valuations amongst the valuers. Keywords: Exposure, Lagos Metropolis, Valuation accuracy, Valuation inputs, Training, Nigeri

An Evaluation of the Appropriateness of Methods of Valuing Residential Properties in Sub-Urban Areas of Ondo State, Nigeria

The study examined the approaches often adopted for the valuation of rural residential properties of Nigeria using Ugbe and Arigidi Akoko areas of Ondo State, Nigeria as the case study. The study was set out to determine which of the method(s) of valuation is the most appropriate for valuing residential properties in rural areas in the developing economy such as Nigeria. To achieve the aim of the study, the physical inspections of two residential properties were carried out, one in Arigidi Akoko and Ugbe Akoko in Ondo State. The data collected via the inspections were used in calculating the values using different methods. The study reveals that of all the methods of valuation, investment method is the most appropriate because the value derived is a function of the rent. Comparative method is inappropriate because property rarely changes hand in the rural areas while the cost method jack up property values to a level that the market cannot support. The figure of year’s purchase which is a multiplier is difficult to calculate because the yield which determines the years purchase is a function of analysis of sales transaction which is rare. There is little difference in construction cost in rural and urban areas whereas values between the two show wide disparity. The study recommends even distribution of projects by governments, organisations, religious bodies etc. Development projects act as catalyst which speeds up the rate of development which brings about influx of people thereby resulting in upward movement of rent and property values

Comparative Study of Rental Values of Two Gated Estates in Lekki Peninsula Lagos

The study which entailed a comparative analysis of rental values of residential properties of restricted access and open access gated estates is aimed at discovering differences in rental values. Analysing these rental values of restricted access (Crown Estate) and open access (Victoria Gargen City) estates in Lekki Peninsula, as case studies will aid investors and policy makers to be better guided in their decision-making processes. To achieve the objective of the study, structured questionnaires were administered to 160 residents of Crown Estate out of which 116 respondents returned their questionnaires filled; 120 questionnaires were administered to the residents of Victoria Garden City out of which 90 questionnaires were retrieved while 45 questionnaires out of the 60 administered to the Estate Surveyors and Valuer's managing properties in Crown Estate and Victoria Garden City (VGC) were retrieved.  The collected questionnaires were subsequently analyzed using relevant statistical techniques such as the frequency distribution tables and the t-test. The study revealed that being gated had no effect on the choice of residency. However, location was discovered to be a germane feature in the choice of either estate. The result also revealed significant difference in rental values in the two estates. The study therefore recommends appropriate features "“ such as location and provision of good neighbourhood quality amongst others in the planning of any estate

The Siege on Estate Surveying and Valuation Profession in the Global Setting: A Review of Nigeria Experience

Investment in real estate has come of age and assumed a pride of place in the globalized world. The practice of investment in real estate that often result in having edge against inflation or inflation proof through investing in residential, commercial, industrial, institutional and agricultural land uses has inevitably made that aspect of socio-economic sphere caught the attention of every individuals as well as nations of the world. The need to have professionals to manage, improve and sustain such investment or development is imperative. The paper examines and chronicles the incursion into the Estate Surveying and Valuation practice by people not so trained in the field at both national and global levels. Also, the various bodies in Europe, America, New Zealand and Australia acknowledged competitions from other allied professionals. The paper advocated the need for adherence to professional ethics and code of conduct by professional Estate Surveyors and Valuers with view to differentiating their performance from those of non-members who are not trained in the art and science of the estate surveying and valuation profession. In addition, the paper conceptualized and recommended some strategies to be adopted by NIESV, ESVARBON, institutions offering Estate Management in Nigeria and the practicing firms in the country for the purpose of attaining global relevance, standardization and meeting quality expected of professionals

Conceptual Modeling of Facilities Management Driven Hotels in South-Western Nigeria

Models in whatever form on Facilities Management (FM) driven business organizations are scanty in literature, and the available models are developed to depict the workings of few sections of facilities management, covering just few sectors of the Nigerian economy. Consequently, the researcher attempted to develop a conceptual model based on what is reasonably expected of the impact of facilities management principles on hotel organizations adopting FM holistically in South-Western Nigeria. The Conceptual model is validated based on the results emanating from a survey of fifty-seven hotels. Out of the fifty-seven questionnaires administered on hotel management, twenty-eight (49%) were retrieved while in respect of customers, six hundred and seventy-one questionnaires were administered from which three hundred and sixty (54%) were retrieved. Stratified sampling technique was adopted to select the samples while appropriate sample size was determined following the formula given by Kothari (1978). Data analysis was executed using descriptive statistics and Chi-Square (χ2). The validated heuristic model was derived and recommended as a template for hotel management operation where facilities management principles are employed.Keywords: Facilities Management, Heuristic Model, Hotel Operation, Model Validatio

A Study of the Effect of Personality Characteristics on the Effectiveness of Construction Project Managers Performance

The study is aimed at studying the effect of personal characteristics (extraversion) on the effectiveness of construction Project Managers with a view to determining whether personality has any effect on the Project Managers’ performance. The study was carried out using two sets of questionnaires consisting of Eysenck Personality Questionnaire (EPQ) Adult Form and structured questionnaire to sample respondents’ personality and measure their effectiveness respectively. The study revealed that personal characteristics is a feature of every construction project manage in the study. However, extraverted construction project managers constitute 64% of the respondents while introverted construction project managers constitute 36%. It was revealed that the three areas where the respondents are more effective in order of ranking are effectiveness of meeting clients’ requirements in term of functionality of projects; effectiveness in terms of delivering the projects in terms of required quality standard; and effectiveness in terms of resolving conflict after occurrence before threatened project objectives which ranked first, second and third respectively. The study found out that there is a negative relationship between extraversion and effectiveness. The test of statistical significance using standard error and t-test showed no relationship between the variables. The t- value calculated (-0.297) is less than the t-tabulated (6.314) held at 0.05 significant level. Also, the alpha value (0.769) is greater than the –p value (0.0). It is recommended that another research should be carried out to find out if they have impact on Construction Project Manager’s effectiveness. Â