LAGOS STATE GOVERNMENT
LAGOS STATE VALUATION OFFICE (LASVO)
INVITATION OF EXPRESSION OF INTEREST (EOI) FOR THE CONSULTANT SERVICES FOR THE VALUATION OF LAGOS STATE GOVERNMENT FIXED ASSETS IN TANDEM WITH INTERNATIONAL PUBLIC SECTOR ACCOUNTING SECTOR ACCOUNTING STANDARD(IPSAS),AND FOR THE CONSOLIDATION OF LAGOS STATE GOVERNMENT (LASG) FINANCIAL STATEMENT.
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 amongst other functions.
In order to prepare the continuous consolidation of LASG Assets and to include same in the yearly Financial Statement, LASVO will be embarking on a comprehensive LASG Fixed Assets Valuation.
Pursuant to the above, and in order to have updated valuation of LASG Fixed Assets, LASVO will be undertaking another Phase of Fixed Assets Valuation of some sectors that are yet to be captured.
It should be noted that the 1st phase, which involved the State Infrastructures assets i.e. Roads, Bridges, Canals etc. was carried out in 2017, and the 8th Phase which also entails infrastructural assets that were not captured in the 1st Phase was done in 2025.
2.0 OBJECTIVES OF THE CONSULTANCY SERVICES
The following are the objectives but not limited to the underlisted items:
(i) Identification all LASG Assets.
(ii) Creation of a comprehensive Fixed Assets Register that can be updated from time to time/ uploaded into the Fixed Assets Oracle Module of the State.
(iii) Determination of the economic worth of each asset in monetary terms.
(iv) Boosting the State Net worth by increasing the Property, Plant & Equipment (PPE) Value in the financial statement.
3.0 Consequent upon the above and the importance of this exercise, in determining the economic worth of the State Fixed Assets, 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).
4.0 PROJECT SCOPE
The Scope of the service includes the valuation of all LASG Assets in all Sectors.
5.01 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 (2023, 2024 &2025).
• 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.
5.02 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 (Letter of award and certificate of completion) of two (2) assignments carried out in the last five (5) years.
6.0 PROJECT DURATION
Project exercise is expected to last for a period of not more than Three (3) months.
7.0 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+1) Friday 8th May, 2026. (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.
This tender expires at 5:00pm on Friday May 8th, 2026