EXAMINATION OF PROBLEM AND PROSPECT OF VALUATION OF ASSETS OF PUBLIC BOLTS
Need help with a related project topic or New topic? Send Us Your Topic
DOWNLOAD THE COMPLETE PROJECT MATERIAL
EXAMINATION OF PROBLEM AND PROSPECT OF VALUATION OF ASSETS OF PUBLIC BOLTS
CHAPITRE ONE
1.0INTRODUCTION
1.1 Background Of The Study
The British system influenced estate surveying and value in Nigeria. The theoretical foundations and professional curricula for local training in Nigeria have been modelled after the Rics/Royal Institution of chartered surveyors system developed in the United Kingdom. Estate surveyor and valuations in Nigeria naturally took after the practise in the United Kingdom.
Valuation is the art and science of evaluating the worth of a certain property at a specific time and place while taking into account all of the teutors who have direct and indirect influence on the property market. Valuation of an organization’s assets is normally given a lot of attention because an organization’s assets are the core of that organisation.
However, asset valuation is crucial in any organisation, public or private, because it helps to determine the organization’s “going concern,” which is aimed at determining whether the organisation is growing (improving) or decreasing to avoid liquidation.
Public properties, on the other hand, are those built by the government to serve the public. The situation of public properties in Nigeria concerns well-meaning Nigerians. According to the investigation, poor performance and conditions of public properties are caused by a variety of setbacks.
Undeveloped land and landed properties are among the Nigeria Railway Corporation‘s properties. Residential buildings, shops, catering services, offices, and quest homes are examples of landed properties.
Nigeria Railways Corporation, one of the public corporations, was founded by legislation in 912 by the British colonial masters to offer rail transportation services in the country.
The organisation was formed in accordance with the policy objectives that established it, with the headquarters in Ebute Meta, now in Lagos state, and district headquarters in Ibadan, Enugu, Kaduna, Bauchi, and Kafanchan.
The district headquarters, in turn, have their area offices to improve management policy implementation, thus the colonial masters’ purpose to transfer people, products, and materials to other regions of the country.
However, it is with great regret that the collaboration has fallen short of all expectations.
Against this backdrop, the researcher sets out to investigate the problem and prospects of valuing public-sector assets.
1.2STATEMENT OF THE PROBLEM
Asset valuation is critical in any organization’s operation since without it, the organisation may not know when it is liquidating.
Despite the fact that the Nigeria Railway Corporation Enugu district has an Estate Department, asset assessment has received little attention. According to the investigation,
there is an issue with bureaucracy and insufficient documentation, which has made it impossible to begin this project. There is also a high level of unprofessionalism within the corporation, which has resulted in the corporation’s stagnation.
1.3 PURPOSE AND OBJECTIVES OF THE STUDY
The purpose of this research is to look into the issues and prospects of valuing public-sector assets in Enugu State.
THE OBJECTIVES ARE AS FOLLOWS:
a. To learn whether the corporation performs carrying asset valuations and when the last time it did so.
b. To investigate the issues that are impeding the appraisal of the corporation’s assets.
c. Make suggestions for how to solve the difficulties.
d. To assess the chances for valuing the assets of public corporations.
1.4 RESEARCH QUESTIONS
The following research question must be addressed.
a. How frequently and when was the last time the Nigeria Railway Corporation valued its assets?
b. What are the issues impeding the appraisal of the corporation’s assets?
c. Make suggestions about how to solve the difficulties
d. What are the chances of carrying out asset valuations for public corporations?
1.5SIGNIFICANCE OF THE STUDY
Asset appraisal is a crucial part of every business because it determines whether the organisation is progressing or regressing.
This research will act as a wake-up call to the Nigeria Railway Corporation’s management about the importance of engaging in this exercise on a regular basis, thereby promoting the corporation’s performance.
This study will also help rail users, which will drive the firm to improve.
This research will also act as a guide for future researchers on the same or similar topics.
1.6 SCOPE OF THE STUDY
This research will focus on the issues and opportunities of valuing the assets of public agencies, with the Nigeria Railway Corporation Enugu districts as the case study. That is to say, it will exclusively focus on the Enugu district headquarters.
1.7 STUDY LIMITATIONS
During the investigation for this study, various important issues were evaluated as an obstacle to completing the assigned work. These elements are as follows:
i. Inadequate availability of relevant information on the project topic.
ii. Time consideration
iii. The respondents’ willingness to answer to the questions posed, particularly the staff of the Nigeria Railway Corporation.
Need help with a related project topic or New topic? Send Us Your Topic