AN APPRAISAL OF VALUATION AND ASSESSMENT OF COMPENSATION FOR COMPULSORY ACQUISITION OF LAND UNDER THE NIGERIAN PROPERTY JURISPRUDENCE

Abstract

The focus of this paper is on appraising the mechanism for valuation and assessment of
compensation for compulsory acquisition of land in Nigeria. This is a very pivotal aspects
of land and property law practice in Nigeria. The paper is quite novel and interesting, it
tends to arouse interest of scholars and readers on the subject of research and fills the gap
in knowledge. The general provision of compulsory acquisition of land by the government
and concept of property compensation as provided in the grund norm were highlighted.
Similarly, sections of the constitution of the Federal Republic of Nigeria 1999 (as
amended) and the Land Use Act 1978 were x-rayed in relation to compensation and
valuation to ascertain the amount payable to the landowners and title holders. The need for
valuation and/or proper computation of assets is important, so as to ensure that adequate
compensation is made. Assessment of compensation in acquisition relating to petroleum
operation was elucidated. Overall, the paper also considered the problems and
controversies associated with valuation. The paper ended with a conclusion and suggested
some recommendations.