ASSESSMENT OF WETLAND VALUATION PROCESSES FOR COMPENSATION IN THE NIGER DELTA, NIGERIA

The issue of compensation has been debated in various fora; however compensation on wetland resources has not been given the primary place. Wetland valuation like any other type of valuation requires going through stages, which may be more complex than real estate valuation for compensation. This study therefore examined the processes involved in the valuation of wetland resources for compensation purposes with a view to establishing whether or not Estate Surveyors and Valuers in the Niger Delta follow the appropriate steps in the conduct of wetland valuation. The study employed survey method in collecting primary data. A total of 120 questionnaires were administered on selected Estate Surveying and Valuation firms in Bayelsa, Delta and Rivers States, out of which 72 of them were retrieved. The data collected were analysed and presented using frequency distributions and percentages. The study showed that Estate Surveyors and Valuers in the study area follow all steps however with 3.6% involved in determining wetland area. This may affect the correct determination of the extent of damage done to wetland ecosystems. The study further revealed that that only 5.5% of the respondents took any course in environmental valuation during their undergraduate school days. They may not be able to properly appreciate of importance of wetland resources. The study therefore recommends that practicing Estate Surveyors and Valuers would need to update their knowledge since wetland valuation for compensation has become a serious issue in the Niger Delta