Faculties & Business Divisions

PLANT & EQUIPMENT VALUATION FACULTY


  • DESCRIPTION
  • LIST OF MEMBERS
  • REGISTRATION
  • CONTACT

EXECUTIVE SUMMARY
Plant as in this context means a factory or place where power is produced or where an industrial process takes place for the manufacture of goods and services (8 Edition, Oxford Dictionary). Equipment is the large machinery or electronic gadgets used in industrial process for maximum production of named goods. More so, Equipment is a type of fixed assets used by a company in its business operations and report on long-term assets section of the balance sheet under the line item, and it is a piece of capital investment that a company has purchased to perform a specific task for the business.
Large scale manufacturing or production unit infrastructure works usually involve the acquisition of plants and equipments for maximum and efficient production of a particular goods or service for optimum returns on investment. Some of these plants include a vehicle or car manufacturing plants, beverage production plants oil exploration and production plant, power production plants, among others. Whereas example of Equipment includes office task, tools, production machine, airplane, vehicle etc. As enunciated by the National President Dr. Patunola Ajayi, "our noble profession must keep abreast of the changes in the profession and strive to position the members to obtain specialization in plant and equipment valuation practice.
He made this call at the official handing over and Award of Honour in Lagos, observed that the members have not unlock the wealth in Plants and Equipment valuation, which is robust solution to grow the economy. And that Plants and Equipment 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 members to prepare valuations in accordance with International Valuation Standard Council (IVSC), Royal Institute of Chartered Surveyors (RICS) and Nigeria Institution of Estate Surveyors and Valuers (NIESV) guardians notes." The immediate past chairman of the faculty, Samson Agbato, said the relevance of Plants and Equipment valuation is as important as the professional impetus and dexterity of its members input to the economy cannot be over 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 85 percent of the total assets and high net worth of investment decision by investors financiers alike", he said.

MISSION, VISION AND OBJECTIVES OF THE FACULTY
MISSION

To empower members of Nigerian Institution of Estate Surveyors and Valuers through capacity development in specialized skill of Plants and Equipment valuation and thus elevating ethics and standard of practice to globally acceptable practice.
VISION
For members of Nigerian Institution of Estate Surveyors and Valuers to earn recognition as expert in Plants and Equipment valuation matters, and to looked up for skill acquisition.
OBJECTIVES
i. Create awareness of the infrastructure, Plants and Equipment valuation faculty of the estate surveying and valuation profession in Nigeria.
ii. To promote ethics and professionalism among members in carrying out assignments.
iii. To provide leading edge training, and knowledge impartation for specialization.
iv. To develop our skills and competences by encouraging international exposure and credentialing of members.
v. To inculcate in members the need for compliance with international best practices and due regard to Nigerian regulatory laws on plants and equipment valuation.
vi. To help propel all members to greater heights of professional excellence.
vii. Ensuring sustainability in the practice of Estate Surveying, plants and equipment Valuation in order to achieve the strategic goals of NIESV.

SCOPE OF THE FACULTY
A scope of work shall be prepared and confirmed in writing that addresses the matters set out below. For certain Plants and Equipment classes or applications the scope of work may be prepared at the outset or during the purpose of the valuation assignment but before the valuation and report are finalized (IVS 101).
I. Identification and state of the valuer.
II. Identification of the client and any other users.
III. Purpose of valuation. The purpose for which the valuation is being produced is clearly stated.
IV. Identification of the assets, Plants and Equipment to be valued.
V. Basis of value. The valuation basis must be appropriate for the purpose. The source of the definition of any basis of value used shall be set out.
VI. Date of valuation. The date is defined in IVS as the day on which the opinion of value applies. This may be different from the date on which the valuation report is to be issued or the date on which investigation are to be undertaken or completed.
VII. Extent of Investigation. Any limitation or restriction on the inspection, inquiry and analysis for the purpose of the valuation shall be set out.
VIII. Nature and source of the information to be relied upon. The nature and source of any relevant information that is to be relied upon without specific verification during the valuation process shall be agreed and recorded.
IX. Assumptions and special assumptions: All assumption and any special assumptions that are to be made in the conduct and reporting of the valuations shall be recorded. Assumptions are matters that are reasonable to be accepted as fact in the context of the valuation assignments without specific investigation and verification. Special assumptions are often used to illustrate the effect of changed circumstance on value. Example: that a proposed building had actually been completed on the valuation date and that a specific contract was in existence on the valuation date which had not actually been completed.
X. Restriction on use, distribution or publication. Where it is necessary or desirable to restrict the use of the valuation or relying upon it, this shall be recorded. If matters are identified that are likely to cause the valuation to be qualified, this shall also be recorded.
XI. Confirmation that the valuation will be undertaken in accordance with the IVS. While confirmation of conformity with the IVS is required
XII. Description of report: Confirmation on the format of the report to be provided shall be agreed and recorded. Reference shall be made to any of the report contents specified in IVS 103 Reporting that are to be excluded.

MEMBER NO NAME
M00526 EMMANUEL EFUNTAYO
M02926 IVIE IDIKE
M02191 MICHAEL I.DAVID
M01798 OGUNSANYA, HEZEKIAH OMONIYI
M04138 OLADEJI OLUSEYI OLALERE
M03909 TUNDE OLUWASOLA
M04476ABDULGANIYU JIMOH
M03484ABDULRASHEED OWODUNNI
M02270ABEGUNDE KOLAWOLE ISAIAH.
M02180ABOLADE ADEOLA NURUDEEN
M04505ABUBAKAR USMAN SALIHU
M02171ADEBAYO ABIODUN ANDWREW
M01243ADEDIRAN ADETUNJI
M03209ADEDOKUN ADEWALE
M03516ADEDOYE ADEKUNLE
M02905ADEFUYE, ADEYEMI OLUSESAN?
M04894ADEGBITE AKINTUNDE AYOBAMI?
M02051ADEGBONMIRE OPEYEMI.
M02569ADEKUNLE OLORUNFEMI AMAO
M02367ADELEKE NATHANIEL ADETAYO
M00802ADEMOLA ADETOLA
M04053ADEMOLA LADEGA
M04108ADENIJI OLAKUNLE
M01348ADENIRAN, EMMANUEL ADEGBOYEGA ABIODUN
M03263ADERIBIGBE O TEMITOPE
M01816ADESINA KAZEEM ADIATU
M02846ADESOLA ADEBAYO
M03266ADETOKUNBOH, OLASENI OLU
M01457ADEWALE JAMES AFOLABI
M03143AFAM CHARLES NRI
M03143AFAM CHARLES NRI
M00105AFOLABI JOHNSON OYELEKE
M01775AHMED SHEHU DOGONDAJI
M03916AHMED SHUAIB
M04727??AJAYI BAMIDELE CHRIS?
M00527AKIN OLAWORE
M03667AKINDIOSE MOSUNMOLA ADIJAT
M01192AKINGBADE TUNJI
M01043AKINLUSI OLUFEMI
M03869AKINROPO ABRAHAM
M02684AKINWUMI OLALEKAN OLUSEYI
M04038AKINYEMI STEPHEN
M03981AMINA ADAMU
M03640AMINA MUSA ALIYU,
M01368ANDEM BASSEY
M02126ANUSIONWU KANU
M00669ANWAR OKORIE ANWAR
M01449ASHIEN DOUGLAS
M02721AUGUSTINE UDOH
M00452AUSTIN? C OTEGBULU
M00701AYINDE TOTLULOPE RICHARDS
M01757AYODELE TUNDE OLADAPO
M01635BABATUNDE SALAWU
M02568BALARABE ANAS IBRAHIM
M02868BALOGUN MUTIU K. OGHENETEGA
M00695BASSEY, EDET NIMMONG
M04157BELLO, MUHAMMAD-FAISAL?
M02009BOLA YUSUF-EKINE
M00497BOLARINDE JOSHUA PATUNOLA-AJAYI?
M02350BRIDGET ORANYE
M03452BUSARI OLALEKAN
M03608CHIBUIKE R. EMELE
M02538CHIEDU ANENE
M01100CHIEF C.J. OPURUM
M00731CHIEF FRANCIS O. MALUZE
M0110CHINEDU JAMES OPURUM
M00576CHUDI UBOSI
M03283CHUKWUEBUKA ANIH
M01837DARE OGUNYEMI?
M04818DAYO OGUNBAYO
M03096DELE OLAIYA
M01775DOGONDAJI S. A.
M02882DUNMOYE OLALEKAN SIKIRU.
M01343EDWARD ENE
M03768EKHATOR AMBROSE
M00729EKPOABASI OKOKON BASSEY
M01354EMELE MOSES CHUKWUMANKPAM
M03569EMEM UDO-INYANG
M03093EMI, LUCKY? B
M00950EMMANUEL EZEAMA
M02477ESV CHRISTIAN ANEJO
M03446ESV MGBOR HUMPHREY CHINWEIKE
M02974ESV OYEDEPO B. OLALEKAN
M04662EWENLA MUSTAPHA
M01713FADIPE OLADEHINDE JESUTOLA
M01541FAOZIAH GAMU
M01947FASIKU MICHAEL OLUSEGUN
M00719FATOKUN JOSEPH OLUNIYI
M01188FEMI OGUNLEYE
M01567FIDEL OKPANACHI IDOKO
M03836FOLORUNSHO OLANREWAJU ISAAC
M01475FRANCIS C.OKPALEKE
M0731FRANCIS O. MALUZE
M03958GBADEGESIN TUNDE OLUSOLA
M03096GEORGE OKWUDILI
M03123GLORIA NAT-OGBEBOR
M01453HASSAN RASHEED OMOTAYO?
M00475HENRY EHIMATIE OMOSIGHO
M03784HENRY ODIGWE C.?
M01498HEZEKIAH ADEBAYO ALABI?
M01669IFEDIORA, NDUBUISI IKEMDINACHUKWU
M03761IKE-AKUDE IKE
M02417ILORI OLUWATOYIN ABOSEDE?
M01851IMO ASUQUO EKANEM?
M00343IRE-OKOLI, CHUKWUEMEKA ROMANUS
M02025ISAAC OLATUNDE BABALOLA
M04391ISAH MOHAMMED
M01698IYIOLA FAJEMIDAGBA
M03221JIDE OLAWEPO?
M03043JIMMY OLAYINKA OMOTOSHO
M04087JULIET AIRADION
M03148KAYODE ANTHONY OLUYINKA
M00714KAYODE OGUNJI
M01435KELVIN NWONU
M01944KEVIN OFILI
M02342KUNLE OGUNFILE
M03459LAMIDI TEMITOPE O.
M02320LANSAR AGHAJI
M00335LONGE NATHANIEL MODUPE
M02018MIKHAIL OLADELE HAMZAT
M02685MUHAMMAD YAHAYA PAI?
M00580NDUBUISI MORDI
M00580NDUBUISI MORDI
M03046NIYI OLAGOKE
M03930NSINI IDANG
M04790OBAMESO PAUL?
M03369OBEMBE TOLULOPE OMOTOLA
M03104OBIORA CHARLES OKAFOR
M00904ODEH KINGSLEY EGHOSA
M00404ODELEYE ABIODUN Z.
M03500ODELEYE AYODEJI PAUL
M03959ODUSOLA ADEWUNMI OLAKUNLE
M03863OGECHI KALU
M03799OGUNBANWO TAOHEED
M03645OGUNSEHINDE? OLATUNDE
M03846OGUNSOLA QUADRI AYOBAMI
M01551OKEREKE, JUSTINA UDUAKOBONG?
M02829OKOANEGBETE JEFFREY
M01463OLAIYA OLADAPO FEMI
M04109OLAMOJU AYODELE ADETUNJI
M04709OLATUNBOSUN A SAMSON
M03221OLAWEPO RANTI OLAJIDE?
M03442OLAWUYI BOLA KUBURAT
M00955OLAYINKA LINDA PATUNOLA-AJAYI?(MNI)
M01780OLUBIYI OLUWATUDIMU?
M01844OLUFEMI ADEDAMOLA OYEDELE.
M02747OLUMUYIWA EGBEYEMI
M01716OLUSEYI JOSHUA ADEGOKE
M0520OLUWADARE S. BELLO
M04910ONYEJIAKA JOSEPH CHUKWUDI
M04910ONYEJIAKA JOSEPH CHUKWUDI,
M03764OPEYEMI SAHEED HASSAN
M01540OSATOHANWEH ROTIMI OSAWAYE
M04599OSHOBOR JOACHIN JOSEPH E
M03468PATRICK OGUNGBOLA?
M04249PAUL EMESUE
M00574PETER CHIEMEKE OZIL?
M00889PHILIP NWACHUKWU
M04414PHILOMENA HENSHAW
?M02963RAJI TAOHEED ADEWALE
M04131RUFAI MUTAU ADEBOYE
M01709SALAM OYEWUMI
M01829SAMSON AGBATO
M01206SAMUEL ABIODUN OLAPADE
M02048SANDRA PETER
M03690SANNI MUSAJO
M02193SEGUN ADEFILA
M03880SODEINDE OLADELE SUNDAY
M00915SOLOMON NYONG UDO MKPESE
M00723SOLOMON OLUSOLA FATOKI
M01440SOWEMIMO OLUWASEYI?SUNDAY
M01422STELLA YOADE OYEWUMI AYINDE
M01331STEPHEN JAGUN?
M01331STEPHEN OLA JAGUN
M02111SULAIMAN ABDULRAFIU OLANREWAJU
M03623SUNDAY OLARINRE OLADOKUN
?M0339THOMAS KOLAWOLE ADEFILA
M01662TIWA ADEGBIJI
M01680TOSIN KADIRI
M03909TUNDE OLUWASOLA
M04359TUNJI ADESOKAN
M02565TUNJI TITILOYE
M04629USMAN, MOHAMMED MAISHERA
M01325VICTOR ALONGE
M02945VICTOR ROWLAND
M01636VIVIAN OSAS ENWENEZI
M02327WOLE KAJOLA
M00886YAYA, AJAGBE SURAJU
M01843YINKA OKUNUSI
M03829YUSUF. T. OLUSHOLA
M03944ZAINAB OBADAKI .T
M01573ZUBEIRU INUWA

Every professional member of the institution is allowed to join a maximum of four (4) faculties.
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