Education and Training of Plant and Machinery Valuers in Nigeria: Imperatives of Industry-Academia Collaboration

Abstract

This study examines the education of plant and machinery valuers in Nigeria based on the teaching and learning of the course in a typical Nigerian University through an empirical study of 90 graduating estate management and valuation students who have been taught plant and machinery valuation as a major course required for graduation. Data for the study were obtained using structured questionnaires administered to 90 graduating estate management and valuation students at the Federal University of Technology, Minna, who have been taught plant and machinery valuation for a whole academic semester. The respondents were selected through purposive sampling technique. The study found that the respondents' overall level of understanding of the basic topics in plant and machinery valuation was highest in the classification of plant and machinery assets and lowest in computer applications in plant and machinery valuation. Analysis of Variance (ANOVA) in the level of understanding of the basic topics in plant and machinery valuation between the male and female respondents produced an F-ratio of 0.39 at p-value greater than 0.05. The respondents strongly agreed that practical exercises in the field will facilitate understanding of plant and machinery valuation. The study concludes that there is need for more practical and field exercises in the teaching and learning of plant and machinery valuation course. Such initiative should be anchored on effective collaboration between the academia and experienced practitioners in the Nigerian valuation industry.