URGENT REQUEST FOR PROPOSAL FROM PROPERTY, PLANT AND EQUIPMENT (PPE) VALUATION FIRMS FOR VALUATION OF WIDOWS AND ORPHANS EMPOWERMENT ORGANIZATION’S PPE.

PROPERTY, PLANT, AND EQUIPMENT (PPE) VALUATION

Request for Proposal from Property, Plant, and Equipment (PPE) Valuation Firms for valuation of Widows and Orphans Empowerment Organization’s PPE.

Objective

Widows and Orphans Empowerment Organization (WEWE) is a local NGO soliciting the services of a valuation firm to value its Property, Plant, and Equipment (PPE).  WEWE’s PPE comprises of motor vehicles, office furniture, equipment, and generators which are located in its Abuja and Port Harcourt Offices. 

Consequently, WEWE hereby invites professional PPE valuation firms to bid for the valuation of its PPE.  The successful/selected firm will carry out the valuation of the respective PPE and produce relevant reports and certificates regarding the assignment. 

Scope of Work

The PPE Valuation Firm herein referred to as “Valuer” will perform all studies and analysis, undertake field service/investigations if required, and prepare necessary documents/reports to achieve satisfactorily the objective of the assignment.  Relevant activities shall be carried out in due consultation with WEWE.

By the foregoing requirements, the Scope/Terms of Reference of valuation services are enclosed in Annexure-I.

Eligibility Criteria

The valuation should be done by a professionally qualified independent Valuer.  The Valuer to be appointed by WEWE must act with independence, integrity, and objectivity. They will undertake all valuation works without being influenced by anybody.

Method of application:  Interested Property, Plant, and Equipment (PPE) Valuation Firms should submit their proposal (technical and financial) to: ppeevaluator2024@weweng.org

Deadline:  January 18, 2024.

Kindly Note: WEWE reserves the right to conclude this hiring process when a suitable PPE Valuation Firm is selected. While WEWE thanks all applicants for showing interest, only shortlisted PPE Valuation Firms will be contacted.

About Incorporated Trustees of Widow and Orphans Empowerment Organization

Widows and Orphans Empowerment Organization (WEWE) was registered as a not-for-profit organization with the Corporate Affairs Commission (CAC), Abuja, Nigeria on June 8, 2009, and is domiciled in Nigeria. WEWE’s mission is “Empowering communities, vulnerable persons, and local organizations to be resilient by faith”.

Valuation – Scope of Work: ANNEXURE – I

In estimating the market value for the WEWE’s PPE, the Valuer shall:

1. Identify and describe the property being valued.
2. Carry out due diligence and review of the Plant and machinery and Review of physical encumbrances, if any.
3. Collect information and conduct due diligence on matters like market information, quotations, and offers of similar assets sold.
4. State any assumptions or limiting conditions that may affect the analysis, opinions, and conclusions.
5. Provide sufficient information to permit those who read and rely on the report to fully understand the data, reasoning, analyses, and conclusions underlying Asset Valuer’s findings and opinions.
6. Completely and understandably set forth the valuation report in a manner, which will be comprehensive, accurate, and not in any manner misleading.
7. The Valuer will be responsible for generating a draft report and making detailed presentations on the subject matter as may be required by WEWE. 
8. Post presentation, the Valuer, shall, if required, incorporate the suggestions as may be requested by WEWE or provide for any other additional clarification that may be required. The final deliverable shall be a final Valuation Report, incorporating any change(s)/ modification(s) as may be suggested above.
9. The Valuer shall calculate the Fair Value, Distress Sale Value, and Liquidation Value on both a ‘Piece-Meal’ and ‘Scrap Value’ basis and provide details of the methodology followed for the same. The Valuer shall also advise on the Reserve Price for the asset.
10. The Valuer shall carry out the valuation of personal movable and immovable assets as per the details provided by the organization.

Notes:

In addition to the above scope of work, the Valuation Report should, inter alia provide the following:

1. Approach and methodology followed.
2. Valuer assessment on the aspects mentioned above and other considerations taken in the valuation of assets and how these have been considered in arriving at the values.
3. Fair value of the fixed assets covering plant and machinery and other fixed assets including motor vehicles and office equipment, indicating the following:

• Plant and machinery- Specifications, condition, computation of fair value (Such as details regarding current costs, depreciation for past usage, additional cost required for repair and renovations, etc.)
• Other Fixed Assets: Specifications, condition, depreciation for past usage, and additional cost required for repair and renovation, values arrived at concerning various sources/ methods.
• Any other matter which the Valuer in his judgment should feel worth indicating.
• Replacement Value and Realizable Value for the above assets must be shown separately. If in the opinion of the Valuer, certain assets are likely to realize only scrap value, the same should be indicated with suitable justifications.
• Advise on the Reserve Price of the asset.

“WEWE is an equal opportunity employer, which promotes diversity and does not discriminate based on tribe, state of origin within Nigeria, religion, age, sex, race or on different physical ability”.

“WEWE’s organizational culture promotes the principles of safeguarding and high moral values. WEWE’s Safeguarding Policy 2022 promotes an environment where no staff, associates, volunteers, case workers, consultants, board members, and partners engage in a sexual relationship, harass, or exploit anyone under the age of 18 or vulnerable adult, especially our beneficiaries”.

“WEWE’s organizational culture also has zero tolerance for corrupt practices. Therefore, for any of our job vacancies, we advise that applicants do not offer or accept any request for money, favors, or gifts from anyone to facilitate an employment opportunity with WEWE. Applicants found engaging in such practices could jeopardize their chances of being selected. If anyone contacts, you with such an offer please report this immediately to WEWE management on this WhatsApp line 09037811024”.

“WEWE’s Vision, Mission and Ideologies”

Organization Vision:  A society without vulnerable persons

Organization Mission: Empowering communities, vulnerable persons, and local organizations to be resilient by faith

WEWE’s Organizational Ideologies

1. To beat global standards of excellence in all we do
2. To improve the lives of vulnerable people
3. To be statutorily and financially compliant at all times. We want to strengthen the capacity of other local NGOs to equally be statutorily and financially compliant and thereby contribute to increasing the number of compliant NGOs in Nigeria and Africa.
4. To consistently deliver superior and ever-improving programs and services than any other local and international organization.
5. To be better than the rest and be better than the best in all we do