In assess ing the wot1h of interest in any propetty, there are varieties of
approaches available to the Estate Surveyor and Valuer. How be it, the approach
chosen is usually a fimction of variety of tactors such as the purpose of the valuation,
the type of property, the basis of valuation. This study therefure examined the basis
and methods adopted in the valuation of wetland resources in the Niger Delta.
Questionnaire as well as persona l and telephone interv iews were adopted fur data
co llection. Seventy-two (72) quest io nna ires were retrieved, co llated, ana lysed and
presented in the study using ireq uency distributions and percentages and re lative
importance index (RII ). The study revea led that tmjority of Estate Surveyors and
Va luers, in theN iger De lta adopted open market (61.8%) and cost (32.7%) bases fur
wetland va luat ion. Also, the study showed that in va luing wet land resources,
respondents in the study area adopted tnethods that re ly more on market evidence with
market prices 1nethod ranked as having highest leve l ofusage (RII = 3. 15) fo llowed
by rep lacetnent cost method (RII = 3.03), cost-benefit ana lys is (RII = 2.96), hedonic
pric ing method (RII = 2.87) and production fimct ion (RII = 2.80). The study
recommends that Estate Surveyors and Va luers should adopt tota l economic va lue
bas is fur wetland valuation. Since contingent valuat ion method captures both the use
and non use values of wetland resources it is recommended that Estate Surveyors and
Valuers should adopt the method in valuing wetland resources fur compensation. In
addition, the Nigeria Valuation Standards and Guidance Notes should be reviewed
with a view to including tota l economic value as a basis of wetland valuation and also
include the identified methods for environmental valuation