1. (1) There is hereby established the Office of Valuer-General Lagos State (hereinafter referred to as “the Valuer-General Office”) which shall be responsible for the preparation of valuation of all public Assets in the state.
(2) For the purpose of this bill the Valuer-General shall have zonal offices in Local Government areas in the state.
(3) The valuation offices in each local government area in the state shall be the only body empowered to carry out assessment of public Assets subject to the approval of the Valuer-General.
(4) The Valuer-General Office shall consist of the Valuer-General and such number of other staff as may be required to assist the Valuer-General in the execution of his duties under this Bill.
(5) The members of staff of the Valuer-General Office shall be members of the state public service who shall be professional Estate Surveyors and Valuers and other supporting staff.
2.(1) The Governor shall appoint the Valuer-General who shall be a member of The Nigerian Institution of Estate Surveyors and Valuers (NIESV) and also registered by the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON), with at least 12years post registration experience.
(2) The Valuer -General shall be appointed from within the civil service or externally after due process.
(3) The Valuer -General shall be both the Professional and administrative head of the Office.
(4) The Valuer-General appointed under this Bill shall be responsible to the Governor of the state.
3. The Valuer-General shall be responsible but not limited to the following ;
(1) Shall maintain Asset Register of all Government Assets in the State.
(2) Shall supply valuation information on yields on Real Estate Investment, Land Values, Rental values, Property ratios, Investment Analysis and other relevant data to the State Government and the Public.
(3) Shall Advise Government on International Financial Reporting Standards with relationship to physical Assets.
(4)(i) Shall implement the intent and expectation of sections 29(4b), 29(4c) of the Land Use Act 1978 as the “appropriate officer”.
(ii) Shall act as an adviser on value to satisfy the provision of section 33(2) of the Land Use Act 1978
(iii) Shall advise Government on compensation issues as provided by section 29(1) and 29(2) of the Land Use Act 1978.
(iv)Shall advise Government on compensation matters under the appropriate provisions of the Minerals Act or the Minerals Oils Act or any legislation replacing the same.
(5) The identification, survey and assessment of public Assets in the state for the compilation of the Assets register mentioned in subsection (1) of this section.
(6) Nomination or appointment of professional advisers for valuation of all public Assets in the State.
(7) Valuation of all property based taxes for purpose of revenue generation.
(8) Valuation of Government assets including infrastructure, facilities, furniture and fittings, landed properties and other tangible/ intangible assets in line with International Public Sector Accounting Standards.
(9) Pre-investment appraisal of government projects, public private partnership projects, project monitoring and evaluation etc.
(10) Valuation for arbitration, mediation and reconciliation.
(11) Assessing the compensation payable upon acquisition of land by the Government.
(12) Assessment of appropriate rates for Stamp Duty.
(13) Determining the values of properties rented, purchased, sold or leased by or to Government.
(14) Other functions that may be assigned from time to time.
4. (1) The Valuer-General shall appoint consultant Estate Surveyor and Valuers for the purpose of this Bill.
(2) The consultant so appointed under subsection (1) of this Section shall be subject to and under the supervision of the Valuer General or his designated officer.
5. An Estate Surveyor and Valuer shall be:
(1) Responsible for the valuation of any Asset that may be assigned to him/her.
(2) Required to give all such information orally or in writing as may affect the assessment of such Asset.
(3) Required to enter into any Assets on any at any reasonable time to take such measurements and other particulars of the Asset as he may deem necessary for the purpose of his/her engagement.
(4) Required to ensure that valuation carried out for all purposes are in conformity with the applicable standards as set by NIESV, ESVARBON, IVSC, IPMS, IPSAS, FRCN and any other standards applicable for the assignment.
6. For the purposes of this bill, all Assets in the state shall be valued based on the purpose for which the valuation is required.
7. In assessing relevant Assets, Estate Surveyors and Valuers, shall determine the appropriate value of such in accordance with a purpose for which the valuation is required using acceptable valuation methods.
with all this I see a need to create the office of a Valuer General not just in Lagos State ,but all36 states.
BY:
ESV Offiong Samuel Ukpong FNIVS
Chairman NIESV Lagos Branch.
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