DEADLINE: 2ND JUNE, 2025
LAGOS STATE VALUATION OFFICE (LASVO)
INVITATION OF EXPRESSION OF INTEREST (EOI) FOR THE CONSULTANCY SERVICES FOR THE VALUATION OF LAGOS STATE GOVERNMENT FIXED ASSETS IN TANDEM WITH INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARD (IPSAS), AND FOR THE CONSOLIDATION OF LAGOS STATE GOVERNMENT (LASG) FINANCIAL STATEMENT
1.0 BACKGROUND
The Lagos State Valuation Office (LASVO) is entrusted with the valuation of Lagos State Government (LASG) Assets in accordance with the International Public Sector Accounting Standard (IPSAS) and the consolidation of the financial statement of LASG.
In order to prepare that consolidation of LASG Assets and Financial Statement, the Management of LASVO is embarking on a comprehensive LASG Fixed Assets Valuation. The first phase, which involved the State Infrastructures such as Roads, Bridges, concrete drains was completed and has been carried out along with the other phases of the valuation exercise under the supervision and coordination of LASVO. We are now embarking on a comprehensive valuation of fixed Assets in some sectors that are yet to be captured.
In view of the importance of this exercise to economic worth of the State, LASVO is seeking for suitable reputable Estate Surveyors and Valuers Firms to carry out the valuation of LASG Fixed Assets in accordance with the International Public Sector Accounting Standard (IPSAS).
2.0 OBJECTIVES OF THE CONSULTANCY SERVICES
The following are the objectives but not limited to the underlisted items:
(i) To locate LASG Assets where found.
(ii) Create a comprehensive Fixed Assets Register that can be updated from time to time / uploaded into the Fixed Assets Oracle Module of the State.
(iii) Determine economic value of each asset in monetary terms.
(iv) Boost the State Net worth by increasing the property, plant & equipment (PPE) Value in the financial statement.
3.0 PROJECT SCOPE
The Scope of the service include the valuation of all LASG Assets in all Sectors.
4.0 REQUIREMENTS FOR INTERESTED PARTIES
- Evidence of Certificate of Incorporation with Corporate Affairs Commission (CAC).
- Evidence of Tax Clearance Certificate for the last three (3) years.
- Evidence of financial capability/availability of financial resources from reputable bank.
- Abridged company Annual Audited Report for the immediate past three years.
- Evidence of firm’s corporate registration with The Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON).
- Evidence of Registration as a Consultant with the Lagos State Public Procurement Agency (PPA).
- Evidence of payment of Administrative Charges to the Lagos State Valuation Office (LASVO).
- Sworn Affidavit to the following:
a) That all documents submitted are not only correct but genuine.
(b) That the Director(s)/partners has or have never been convicted by any court of Law.
(c) That none of the Firm’s Director’s/partners are or any Company is Bankrupt.
(d) Whether or not any of the Firm’s staff is a member of Lagos State Government in the past or presently.
5.0 TECHNICAL REQUIREMENTS
(i) Corporate profile with curriculum vitae showing evidence of Professional Qualification of Key personnel, year of experience and staff strength.
(ii) Evidence of membership as Associate of The Nigerian Institution of Estate Surveyors and Valuers.
(iii) Evidence of registration with The Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON) with minimum of five years’ experience.
(iv) Verifiable evidence of similar assignment successfully carried out in the past five (5) years.
6.0 SUBMISSION OF EXPRESSION OF INTEREST
Response to the EOI shall be submitted electronically on the e-procurement platform of the Lagos State Public Procurement Agency (www.lagosppa.gov.ng) not later than 17:00 hours West African Time (GMT+) Monday 2nd June, 2025. This is only possible after registration on the platform.
- Please note that all participants shall be responsible for their cost and expenses for the submission of their EOI.
- Also note that this notice for EOI is only to shortlist qualified candidates and shall not be construed as a contract, nor an intent, promise, or commitment to proceed with parties who respond and that submission of documents shall not entitle any of the interested parties to any claim against LASG/LASVO by such parties that respond to this EOI invitation.
Signed:
The Director
Lagos State Valuation Office
Block 7, 3rd Floor,
Secretariat, Alausa, Ikeja
