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ADEQUACY OF LEGAL PROVISIONS ON VALUATION OF WETLAND FOR COMPENSATION IN THE NIGER DELTA, NIGERIA

Ajibola, M. O. (2013) ADEQUACY OF LEGAL PROVISIONS ON VALUATION OF WETLAND FOR COMPENSATION IN THE NIGER DELTA, NIGERIA. International Review of Business and Social Sciences, 2 (3). pp. 1-10. ISSN 2226-4124

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Abstract

Compensation assessment is legal issue based on the provisions of the enabling laws and this has taken valuation for compensation out of the purview of the general basis for valuation. Series of arguments as regard the adequacy of the figure of compensation had been put forward, however this study examined the adequacy of the provisions for compensation contained in the various laws in Nigeria with respect to wetland valuation for compensation. Exploratory approach was employed in carrying out the study, that is, compensation provisions of the various laws were reviewed. The study established that wetland ecosystems are composed of both use and non-use goods/services. While compensation provisions were made for use goods (the Nigerian Constitution, Oil Pipeline Acts and the Land Use Act variously made provision for assessment and payment of compensation on land, buildings and crops), no provision was made for non-use goods which constitute a large proportion of wetland resources. To achieve the principle of justice and equity that constitute the fulcrum for compensation, the study recommends an overhaul of the laws relating to assessment of compensation payable to take account of the fact that a claimant loses more than goods that are traded in open market. In other words, the non-use components of wetland resources should be adequately provided for in the laws relating to compensation assessment.

Item Type: Article
Subjects: T Technology > TH Building construction
Divisions: Faculty of Engineering, Science and Mathematics > School of Civil Engineering and the Environment
Depositing User: Olusola Ajibola
Date Deposited: 10 Mar 2015 21:16
Last Modified: 15 Sep 2015 20:34
URI: http://eprints.covenantuniversity.edu.ng/id/eprint/3714

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