Intellectual Property Valuers Urge Nigerian Government to Involve Estate Surveyors in Creative Industry Growth
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Intellectual property valuers have called on the Nigerian government to involve members of the Nigerian Institution of Estate Surveyors and Valuers in the country’s growing creative industry. Dr. Thomas Ashaolu, Chief Lecturer and former Head of the Department of Estate Management and Valuation at the Federal Polytechnic, Ilaro, emphasized the importance of involving estate surveyors and valuers—who are experts in economic and financial matters, particularly valuation—in managing the creative sector.
The call follows the Federal Government’s approval to create a Creative Economy Fund, aimed at boosting the creative industry. The initiative has already secured $200 million in funding from AfreximBank to kickstart the program. Lekan Akinwunmi, Chairman of the Faculty of Business Assets and Intellectual Property Valuation, expressed his support for the initiative, praising the government’s efforts. He also stressed the need for extensive consultations with relevant stakeholders, especially trained and registered valuers, to ensure the initiative’s success.
Akinwunmi thanked President Bola Tinubu and the Minister of Arts, Culture and Creative Economy, Hannatu Musawa, for their efforts in securing the fund. He emphasized that the initiative should not be influenced by political or ethnic considerations but should instead focus on Nigeria’s vast potential in the creative industry. He and his colleagues are ready to collaborate with the government to drive the initiative forward.
Dr. Ashaolu also welcomed the establishment of the fund, highlighting its potential to combat youth unemployment. “This fund will empower our youth to become more productive, providing them with legitimate opportunities and reducing the likelihood of engaging in illicit activities,” he said.
Both experts urged the government to work closely with professional groups in the creative sector to manage the fund effectively. Ashaolu suggested that such collaboration would simplify coordination, helping to identify the right individuals and ensuring smooth administration. He further emphasized the need for professional valuers to bridge the gap in the industry through training and skill development, particularly in the valuation of intellectual property assets.
While estate surveyors and valuers have traditionally focused on property, Ashaolu noted that the growing field of intangible assets—such as intellectual property—requires specialized skills and further development. “We need more seminars and training to adapt our valuation expertise to this emerging market, which holds significant opportunities both nationally and internationally,” he concluded.
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