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Fixed Assets Valuation: LASVO Meets With Consultants

The Lagos State Valuation Office (LASVO) has held a stakeholders’ meeting with 24 selected consultants to appraise the ongoing compilation of the State Government's fixed assets across the metropolis. The Director, LASVO, Esv. Adekunle Awolaja, stated that the meeting was organised to ensure the timely submission of the interim and final reports of the Statewide assets compilation exercise, which commenced on December 1, 2020, noting that the Office would soon send templates of the final report to the Consultants. He said it is necessary for all parties to comply with the timeline for submission as expected by the Agency, due to the fact that the report would form input into the State Auditor-General and Accountant-General's documentation for the Financial Report of the Y2020 by 26th of January 2021. According to Awolaja, the consultants must include the geolocation of all the State's fixed assets in the report, as LASVO intends to create labels that would be uploaded into the Oracle module for digital access number tags to identify the location of all government property. While noting that all property of the state government damaged during the #ENDSars protest must be identified and captured in the report for the 2020 fiscal year report, Awolaja informed the consultants to add all challenges faced during the field inspection of assets in their reports and make necessary recommendations. In his remark, one of the representatives of the State Treasury Office and Assistant Director, Mr. Segun Ogunjimi commended the efforts of LASVO, while imploring the consultants to ensure that their reports are ready on time for inclusion in the Y2020 Financial Report. He also assured that the STO would support the Agency's commitment to making Lagos a 21st-century economy in tandem with the T.H.E.M.E.S. development agenda of the Sanwo-Olu administration. Responding on behalf of other consultants at the meeting, Mr. Collins of Wale Aderibigbe and Company, thanked Lagos State Government for the opportunity to contribute their quota to the development of the State, promising to ensure that all his colleagues will comply with the timeline for submission of the final reports. He disclosed that the ongoing compilation exercise would help the government to identify all its property scattered across the city for ease of management, adding that assets that have been encroached by some individuals/groups will be reclaimed.

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