Odudu & Co.
To be a leading innovative and well focused firm of Estate Surveyors and Valuers and Real Estate Consultants, providing quality services of international standard to its clientele using motivated and first class professionals committed to high ethical standards.
AUTHORITY TO PRACTICE
The firm ODUDU & CO. was duly registered to practice Estate Surveying and Valuation profession in Nigeria since June, 1976. The firm has been making significant progress and impact in the profession ever since. At the moment the
firm has seven strategically located offices in the country with its Headquarters in Lagos.
PROFESSIONAL SERVICES PROVIDED:
Real Property/Facility Management and Maintenance:
We manage all types of properties: Residential, Commercial and Industrial. We provide such services as letting or re-letting of property on behalf of clients and ensure that covenants of leases are strictly adhered to. Other services include: drawing up of Tenancy Agreements, indicating all the vital terms and conditions; space allocation/utilisation; assessment and fixing of fair rents; collection and documentation of rents payable and remission of same to landlords, periodic rents reviews; provision of approved/contracted services; payment of utility bills, statutory rates and charges; etc.
Maintenance and Repair also fall under management and they refer essentially to the usual repair/maintenance work of the building and the available services therein. This aspect usually requires the preparation of maintenance budget, which may highlight more about such repairs or replacement of worn-out/damaged components/parts of the building and the redecoration of defaced surfaces (internal and/or external).
Valuation of Property/Facility
We value for various purposes all types of properties: Residential Properties, Commercial Properties-Shops, Factories, Warehouses, Hotels, Restaurants and Licensed premises, Plant, Machinery and Equipment. The resultant valuation report will be useful in the following ways:
(a) To know the relative worth of assets/properties for sale, letting or taxation.
(b) For Balance Sheet of Account purpose (to reflect true or current worth of assets/properties).
(c) For Mortgage purpose e.g. to raise a loan for further expansion of business, etc.
(d) For insurance purpose e.g. to ensure that assets are adequately insured against risk such as fire, tornado, etc.
(e) For compensation purposes – to advise on adequate compensation to be paid or claimed e.g. during a compulsory acquisition exercise by government.
From our knowledge and advice on the market values of property, we can sell, buy and let all types of landed properties on behalf of our clients. We also assist our clients in preparing sales and letting particulars as well as advertising our clients’ properties in the most appropriate media.
Compulsory Acquisition and Compensation
We advise our clients whose properties are to be compulsorily acquired or already acquired by government, statutory corporations or local governments, on the value of their properties. We ensure that our clients’ rights are fully protected under the provisions of the Land Use Decree No. 6 of 1978 or any other Statutory enactments. We also assist in preparing and negotiating our clients’ claims with the acquiring authorities.
In case of dispute as to the amount of compensation to be paid, we brief our clients’ solicitors and appear as expert witnesses at Land Tribunal hearings. We sometimes represent or act for Acquiring Authorities by assessing and advising such authorities on the maximum compensation to be paid to those whose properties are to be acquired.
Town and Estate Planning
As Estate Surveyors, we specialise in such planning schemes that require an intimate knowledge of the property market and “consumer preferences” with regard to type, design, size, scope and mix of development or redevelopment schemes as would permit the attainment of maximum realisation of monetary returns on investments or general utility for example, commercial and resettlement schemes.
We supervise, on behalf of our clients, projects in progress. We report to our clients from time to time, the progress of work on site, the contractors’ problems and the activities of the other consultants being used on the project
We also coordinate the efforts of other professionals to ensure that the project is not only completed on time but also that activities of the professionals are closely monitored and correctly utilised when needed.
General Real Estate Consultancy Work
As a general practice firm, we deal with most aspects of the Estate Surveying practice as we have on our staff very reliable, qualified and seasoned professionals who are experts in their respective fields and who render useful services to our clients on real estate matters e.g. feasibility studies on some projects.
Valuation of Specialised Assets
We have been involved in the valuation of Bank Assets, including office equipment, strongrooms/vaults. We have also been involved in valuation of floating docks, piers, dolphins, specialised paper mills machines, sugar processing plant and machinery; etc.
At present, the company has staff strength of about 78 made up as follows:
Professional Staff ……………………………………………………………………… 12
Admin/Accounts ………………………………………………………………………. 30
Technical/Clerical ………………………………………………………………………. 22
Others ………………………………………………………………………………… 14
The following are some of our key staff:
W. O. ODUDU
B.Sc. (Est. Man) Lond, M.Sc., M.A. (Theology)
RSV., FNIVS, FRICS, AMNIM,
ACI. Arb., mni, PPNIVS, PPAPBN.
Principal Partner and Past President of the
Nigerian Institution of Estate Surveyors and Valuers (PPNIVS).
Past President of the Association of Professional Bodies of Nigeria (PPAPBN)
MR TONY ODUDU, B.Sc (EST. MAN), ANIVS RSV
MR SAMUEL ESSIEN, B.Sc (EST. MAN)
MR AKPANKE C. AKPANKE, HND (EST. MAN)
MR FESTUS AKADI, HND (EST. MAN)
MRS MAUREEN GARUBA, HND (EST. MAN)
MISS JANET O. AWOBAJO, B.TECH (EST. MAN)
MR OLALEKAN B. OYEDEPO, HND (EST. MAN)
MISS BAMGBOYE A. ADEOLA, B. TECH (EST. MAN)
MR CHUKWUMA OBUEH , HND (EST. MAN)
OUR RETAINED CONSULTANTS:
Professor Kunle Ade Wahab M.Sc. Phd., MCIOB, MNIOB, HFNIVS, MNES, PPNIOB
Engineer S. A. Ojo B.Sc. (Mechanical Engr.) Plant & Machinery Valuer, FNIVS, ARICS
Lekmec Engineers Ltd. Consulting Mechanical Engineers
Dr. Engr. James Abu Phd., M.Sc., Civil Engr. PROD. Engr. MI Mech Engr. (Civil & Mech. Engr.)
Kofo Popoola & Co. Chartered Quantity Surveyors and Consulting Surveyors.
We have other supporting staff at the Head Office and at the Branches.
It is pertinent to remark that we are a fast growing firm, Chartered Surveyors and Estate Surveyors and Valuers, we are well staffed with persons absolutely dedicated to serving the public in all legal ways. We believe that our services will be more in demand in the coming years as more persons/institutions become aware of the role of the Estate Surveyor and Valuer in the society.
Our firm is totally committed to making its utmost contribution to the development process of our environment in the aforementioned areas for betterment of all Nigerians and the country in particular. The fees charged for carrying out any of the above-mentioned duties is as provided for in the scale of approved professional charges of the Federal Government for the Nigerian Institution of Estate Surveyors and Valuers of which we are accredited members.
We act as consultants to the following banks:
(i) The World Bank,Nigeria Mission
(ii) Afribank Nig. Plc.,Ilorin, Maiduguri, Gbongan, Jebba, Kano, Benin City, etc.
(iii) U.B.A. Plc. (OLD), Various Branches
(iv)Skye Bank Plc., Lagos and Abuja
(v) Intercontinental Bank, Lagos, Maiduguri, Kano and Benin City
(vi) Union Bank of Nig. Plc., Various Branches
(vii) First Bank of Nig. Plc., Ilorin, Ile-Ife, Maiduguri, Kano, etc.
(viii) Platinum Habib Bank Plc., Various Branches
(ix) Unity Bank, Lagos, Ilorin, Benin City
(x) Diamond Bank, Maiduguri, Kano, Benin City, Lagos
(xi) Spring Bank, Lagos and Port-Harcourt
(xii) Zenith Bank, Lagos and Maiduguri
(xiii) GT Bank Plc., Maiduguri, Kano, Benin City, Lagos Branches.
Other jobs in hand include the following:
(I) Project Management of Offices/Showroom along Jebba Road, Ilorin.
(ii) Collection of property rates for Ethiope East Local Government, Delta State.
(iii) Sale of various landed properties in different locations in Nigeria.
(iv) Management of all types of properties, including Housing Estates, Industrial
Estates, Commercial Complexes, in various parts of Nigeria. Management of Commerce Plaza, Abuja.
(v) Real Estate Consultants to the University of Agriculture, Makurdi.
(vi) Valuation Assignment of NISUCO-In-Liquidation, Bacita.
We have in recent past handled the following jobs:
a. Valuation of the fixed and floating assets of Bendel Soap Factory at Ogorode, Sapele, Bendel State. This included the valuation of all physical structures, plant, equipment and furniture.
b. Valuation of Ijagbo Brewery Factory Complex – assets of Kwara Breweries Limited. (Building, Plants, Machinery, Equipment and Floating assets).
c. Valuation of Anadariya Farms, Anadariya Village, Tundun Wada Local Government Area, Kano State, for Dantata Holdings Limited.
d. Iviari and Agenebode Farms valued for Niger Valley Agro Industries Limited, worth over =N=240.0 million.
e. Valuation of Panti Tunkun Housing Estate, Bacita for Nigerian Sugar Company Ltd., Bacita.
f. Fixed assets of Lake Chad Research Institute, Maiduguri (Land, Buildings, Plants and Machinery).
g. Valuation of fixed and floating assets of the Nigerian Sugar Company Ltd., Bacita
h. Zobe Dam Irrigation Project. We undertook demographic survey of the villages affected by the project, and also carried out the valuation of physical structures of affected communities.
i. Valuation of the fixed assets of the Nigerian Airways Ltd., worldwide. Assets worth over =N=50.0 billion. We valued assets in West Africa, Europe and other locations.
j. Valuation of fixed assets of Leventis Group of Companies at Sokoto, Maiduguri, Kano, Kaduna, Jos, Bauchi, Zaria, etc. worth over =N=250 million.
k. Valuation of fixed assets of Nigerian Paper Mills Ltd., Jebba. Worth over =N=4.5billion.
l. Collection of water rates for the former Bendel State Water Board.
m. Valuation of fixed assets of United Bank for Africa Ltd., in five branches in Edo, Delta and Kwara States.
n. Valuation of fixed and floating assets of the Federal Radio Corporation of Nigeria (Eastern Zone).
o. Valuation of fixed and floating assets of the Borno Radio and Television Corporation, Maiduguri, Borno State.
p. Valuation of assets of National Sports Commission (Ahmadu Bello Stadium Complex, Kaduna) worth over =N=200.0 million.
q. Valuation of fixed and floating assets of Benoni Hospital Complex, Benin City.
r. Valuation of fixed and floating assets of Farmers Supply Company (Kaduna State) Ltd.
s. Valuation of fixed and floating assets of Oluyori Bottling Company Ltd., Isanlu, Kogi State.
t. Valuation of fixed and floating assets of the Advanced Teachers College, Waka-Biu, Borno State.
u. Valuation of the Filling Station of Borno Supply Company Ltd., located in seven towns.
v. Valuation of ELEGANZA BUILDINGS (a purpose-built Ultra-modern 18 storey office complex) located along Joseph Street, Lagos. Worth over =N=2.0 billion.
w. Valuation of fixed assets of the Nigerian Ports Authority (Apapa Dockyard Complex, Lagos). Worth over =N=6.0 billion.
x. Valuation of fixed assets of Niger Delta Basin Development Authority all over the country, worth over =N=165 million.
y. Valuation of fixed assets of the National Institute for Policy and Strategic Studies, Kuru near Jos. Worth over =N=400.0 billion.
z. Valuation of fixed assets of Okada Dry (Nig.) Ltd., Benin.
aa. Valuation of fixed assets of the People’s Bank of Nigeria, throughout the Federation. Worth over =N=300.0 million.
ab. Valuation of fixed and floating assets of the Ile-Oluji Cocoa Products Company Ltd., Ile-Oluji, Ondo State.
ac. Valuation of fixed and floating assets of Continental Shipyard Ltd./NPA at Apapa Dockyard Complex, worth over =N=5.0 billion.
ad. Valuation of the assets of Co-operative Bank at Enugu, worth over =N=150.0 million.
ae. Valuation of the fixed assets of New Nigerian Bank Plc. Worth over =N=200.0 million. Exercise covered the Head office and several Branches of the Bank in Edo and Delta States.
OFFICES OF ODUDU & CO.
64 Alimosho Road, Off Iyana Ipaja,
Alaguntan Bus Stop, Lagos.
Tel: +234 802 291 4176,
9/11, Queens Barracks Road, Apapa,
Tel: +234 807 414 1952 , +234 805 461 2990.
Block A2, Suite 10, Commerce Plaza,
Durumi District, Garki 1, Abuja.
Tel: +234806 723 3018, +234 805 078 0274.
5 Beirut Road,
P. O. Box 5361,
Imaro House, (2nd Floor),
266 Murtala Mohammed Way,
Tel:+234 807 472 3042, +234 807 414 1585 .
44 Sir Kashim Ibrahim Road,
P. O. Box 5263,
Tel: +234 807 472 3042
Klm 5, Jebba Road,
Ilorin, Kwara State.
Tel: +2348 074 14 1758,+234 807 472 3013,+234 807 472 3014.