Director General of the Bureau of Public Enterprises, BPE, Mr. Benjamin Ezra Dikki has described enterprise valuation as a contentious issue in the privatisation and commercialisation programme of the federal government, as it was not a precise science and is influenced by the perspectives of the reviewer.
He, however, stated that the reports of Estate Valuers had greatly assisted in giving credibility to the enterprise valuation.
Receiving the executive members of the Estate Surveyors and Valuers Registration Board of Nigeria, ESVARBON, led by its chairman, Elder Williams O. Odudu who paid a courtesy call on him in his office recently, Dikki said that in the light of the contention of enterprise valuation, the bureau was ever willing to collaborate with any organisation that would assist in enhancing credibility to the valuation of public assets.
A statement by the head, Public Communications of the BPE, Mr. Alex E. Okoh, said Dikki commended the board for producing a standard template to guide the production of valuation reports and pledged the willingness of the bureau to collaborate with the board.
He noted that with the template put in place by the board, there would no longer be ambiguity in valuation of public assets before privatization, as “all grey areas have been taken cares of.”
The DG said enterprise valuation was the heart of privatisation and that any effort to reduce ambiguity on the subject-matter was appreciated, adding that the bureau was now properly guided not to deal with surveyors who are not on the register of the board.
“BPE will be guided by all the documents submitted by the Board and will do business only with those firms accredited by the Board,” he added.
Earlier, Elder Odudu sought the collaboration of BPE in line with Decree No.24 of 1975 (now Cap E13 LFN 2007) charged with the responsibilities of among others, to control; and regulate the practice of the Estate Surveying and Valuation profession in Nigeria.
He said the board had developed a valuations template for reporting valuations which all registered Estate Surveyors and Valuers must comply with.
Odudu appealed to the BPE to ensure that henceforth, valuation of assets of public Enterprises for privatisation and commercialisation must conform to the valuation template which is consistent with international valuation standards and compliant with global best practices.
The chairman revealed that the board had introduced adhesive stamp embossment for all valuation reports to authenticate them and also as a way of further ensuring that only registered Surveyors practice and high standards are maintained among Estate Surveyor and Valuers in the discharge of their services.
He urged the BPE to ensure that valuation reports submitted to the bureau bore the board’s adhesive stamps as soon as it became operational.


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