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LAGOS STATE GOVERNMENT-

EXPRESSION OF INTEREST (EOI) FOR THE CONSULTANCY SERVICES FOR THE VALUATION OF LAGOS STATE GOVERNMENT (LASG) ASSETS IN ACCORDANCE WITH THE INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS (IPSAS), AND FOR THE CONSOLIDATION OF LAGOS STATE GOVERNMENT (LASG) FINANCIAL STATEMENT.

LAGOS STATE GOVERNMENT
EXPRESSION OF INTEREST (EOI) FOR THE CONSULTANCY SERVICES FOR THE VALUATION OF LAGOS STATE GOVERNMENT (LASG) ASSETS IN ACCORDANCE WITH THE INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS (IPSAS), AND FOR THE CONSOLIDATION OF LAGOS STATE GOVERNMENT (LASG) FINANCIAL STATEMENT.
12th OCTOBER 2020

1.BACKGROUND
The Lagos State Valuation Office (LASVO) is entrusted with the responsibility of valuation of Lagos State Government (LASG) Assets in accordance with the International Public Sector Accounting Standards (IPSAS)and the consolidation of the Financial Statement of LASG.

In order to prepare the consolidation of LASG Assets and Financial Statement, the Management of LASVO is embarking on a comprehensive LASG fixed asset valuation. The first phase which involved the State Infrastructures such as Roads, Bridges, Concrete Drains was completed has been carried out along with the second and third phase of the Valuation program under the coordination and supervision of LASVO. We are now embarking on the consolidation stage of the programme that would involve the valuation of Fixed Assets in some sectors.

In pursuant of the above, LASVO is seeking for suitable and reputable Estate Surveyors and Valuers firms to carry out the valuation of LASG fixed asset in accordance with the International Public Sector Accounting Standards (IPSAS).

2.OBJECTIVES OF THE CONSULTANCY PROGRAM
The following are the objectives but not limited to the underlisted items:
a)To locate LASG Assets where found.
b)Determine the economic value of each asset in monetary terms.
c)Create a comprehensive fixed asset register that can be updated from time to time.
d)Generate a digitalized asset numbers to be utilized for the barcode Tagging of all identified LASG assets.
e)Recommendation for optimization of such assets where necessary.

3.SCOPE OF SERVICE.
The scope of service includes the Valuation of all LASG Assets in the following sectors: EDUCATION: This includes all Junior and Senior Secondary Schools, Technical Vocational Centres, Training Institutes, Libraries, etc.
AGRICULTURAL AND AGRO ALLIED ASSETS: This includes Agricultural facilities, Farm settlements, Agricultural land holdings, Abattoirs and Lairage etc.
TOURISM AND CULTURE, SPORTS AND LEISURE FACILITIES: This includes Stadia and other Recreational facilities, Museums, Monuments, Theatres, Heritage Buildings etc.

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