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Compulsory Aqcuistition Practices and the determination of Compensation Oayable in the Niger Delta

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Listed:
  • Victor Akujuru
  • Les Ruddock

Abstract

The right to Compensation for the compulsory acquisition of real property is constitutional and most enabling laws prescribe valuation methods to be adopted in determining the compensation payable. This paper aims at ascertaining the implications of the constitutional provisions and its impact on the compensation payable. It reviews of some legislation, prescribed compensation rates and a valuation report on the Obite-Ubeta-Rumuekpe (OUR) pipeline acquisition is reviewed and the valuation method analysed. When compared with internationally prescribed standards, the paper concludes that the compensation determined does not meet the compensation requirements of adequacy and that the use of predetermined compensation-rates confound the inadequate compensation determination. It recommends the adoption of valuation methods that indicate compensation sums that meet the constitutional provisions.

Suggested Citation

  • Victor Akujuru & Les Ruddock, 2013. "Compulsory Aqcuistition Practices and the determination of Compensation Oayable in the Niger Delta," AfRES afres2013_119, African Real Estate Society (AfRES).
    • Handle: RePEc:afr:wpaper:afres2013_119
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    More about this item

    Keywords

    Adequate Compensation; Compensation Rates; Compulsory Acquisition; Valuation Methods;
    All these keywords.

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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