Govt urged to involve estate valuers in creative industry

The intellectual property valuers have urged the Government to involve members of the Nigerian Institution of Estate Surveyors and Valuers in the creative industry.

In a statement, the Chief Lecturer and erstwhile Head of the Department of Estate Management and Valuation at the Federal Polytechnic, Ilaro, Dr Thomas Ashaolu, charged government officials with the responsibility of managing the creative industry to ensure the involvement of estate surveyors and valuers who are trained experts in economic and financial issues as far as valuation was concerned.

Meanwhile, reacting to the Federal Government’s approval to enhance the creative industry through the creation of a Creative Economy Fund, the Chairman of the Faculty of Business Assets and Intellectual Property Valuation, Lekan Akinwunmi, and its facilitator, said the initiative, which was to pool resources for those in the creative industry, had attracted a sum of $200m from AfreximBank for its take off.

Speaking on the government’s approval, Akinwunmi, who noted that the initiative could not have come at a better time, called for extensive consultations with relevant stakeholders, particularly, trained and registered valuers.

“We are thankful to President Bola Tinubu and the Minister of Arts, Culture and Creative Economy, Hannatu Musawa, for bringing this fund to fruition. While members of our institution have the expertise and depth of the field to help the government drive home the goal, potentials in this sector should not be traded on party politics or ethnicity.

“Nigeria has a lot to gain in the creative industry, and we are ready to work with the government to pilot this initiative,” he said.

Ashaolu, who noted that the fund was a good development, said one of its advantages was that it would take many of the youths away from joblessness.

“This fund will make our youths more productive, and earn a living rather than engaging in illicit activities.”

On the management of the fund, Asaholu urged the government to channel communications through professional groups or associations in the creative industry.

 “With these groups, coordination, and organisation of different individuals showing interest will be easy.  This will help the government to get the right set of people and easy administration and management.

“It is now left for the professionals to come and leverage the opportunities and bridge the wide gap in the industry through training, and several other efforts to aid targeted people to tap into huge opportunities in this industry.

“Trained valuers on intellectual property assets have a huge role to play in the delivery of this project. Many of us in the estate and valuation practice in the past had dwelt so much on property. It is just in recent times that a few of us began to look into the valuation of tangible and intangible assets.

“And we need more skill development seminars and engagements in that field. It is indeed a big and emerging market both nationally and internationally. We have the basic skills on valuation, but what we need to learn, unlearn, and relearn, is an application of our skills to this specialised area of intangible assets valuation.”