NIESV urges robust plant, equipment valuation
With infrastructural development being one of the most important factors that influence real estate prices, the Nigerian Institution of Estate Surveyors and Valuers (NIESV) has urged members to shift attention to the development of plant and equipment valuation practice.
NIESV president, Dr. Bolarinde Patunola Ajayi made the call at the Official Handing Over and Award of Honour in Lagos, observed that the members have not unlock the wealth in the plant and equipment valuation, which is very robust solution to grow the economy.
According to Patunola Ajayi, plant and equipment valuation is vital in business operations, urged members of the institution to review the criteria by which the faculty will assess and monitor the competence of member to prepare valuation in accordance with IVSC, RICS and NIESV guardiance notes.
The chairman of the faculty, Osato Osawaye called synergy and collaboration to deliver cutting edge, global centric an professionals valuation services and consulting to clients.
The immediate past chairman of the faculty, Samson Agbato said, “the relevance of the plant and equipment valuation is an importance as the professional impetus and dexterity of its members input to the economy cannot be emphasized.
“In present day Nigerian companies has come to rely on their assets as the major financing tools for their business, this is further justified by knowledge that property, plant and equipment account for a range between 40 – 85per cent of the total assets and high net worth of investment decision by investor and financiers alike,” he said