Posted: 2020 | Pages: 91 | Format: MS Word | Chapters: 1-5 | Others: Questionnaires & References

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ABSTRACT

There is no doubt that valuation is the most exclusive function of Estate Surveyor and Valuers as certified by Decree now Act No 24 1975 which established the Estate Surveyor and Valuers Registration Board of Nigeria (ESVARBON). By virtue of availability and solid minerals, Estate Surveyors and Valuers role in that sector of Economy cannot be overemphasized. The Estate Surveyors and Valuers in advising and valuing interest in solid mineral invest themselves with various methods of valuation. Among which investment method, which is the appropriate method of valuation. Before adopting investment method as the most appropriate approach to solid mineral valuation, questionnaires are served to miners (Crush Rock Industry) and Estate Surveyors and Valuers, they in return agree that investment method of valuation is the most suitable. The sources of data collection include the primary source that is information gather through questionnaires interviews etc. Another source of data is secondary source which is the information gathered through textbooks, magazines, newspapers, maps, conference papers etc. interview etc. Another source of data is secondary sources which is information gathered through textbooks, magazines, newspaper, maps, conference papers etc. The study is of grest fits to the Government, the Estate Surveyors and Valuers, the Valuers (Crush Rock Industry) and prospective investors. The study landed with some recommendations to Estate Surveyors and Valuers the Government and the mineral operators. The emendation when implemented will improve the solid mineral of the economy.   

CHAPTER ONE

1.0                           INTRODUCTION

• BACKGROUND OF THE STUDY

Solid mineral is said to be wasting asset (fund resources) of various naturally occurring substance of more or less homogeneous composition obtained from earth for man’s use. Solid minerals have proved to be one of the most viable and lucrative natural resources and source of finance to government of Nigeria and world at large. It is against this background that valuation should be carried out to determine the worth of these precious substances.

Valuation is the most exclusive functions of Estate Surveyors and valuers. It is exclusive because of its legal backing by decree No 24 of 1975 which established the Estate Surveyors and valuers Registration Board of Nigeria (ESVARBON). This implies that every qualified professional Estate Surveyor and valuer can out valuation of landed properties, assets, plants, machineries equipments and solid minerals without fear of molestation intimidation from anybody whatsoever.

This is pertinent to state that three interests exists in mineral valuation viz lessee (Crush Rock industry) the lessor Government and the host community, Ishiagu Community.