Codub Group Holds Asset Summit in Nigeria

It is no longer news that lack of good asset management is responsible for the decay of some infrastructures in Nigeria. But what is news is the way Codub Group, a London based asset consulting firm, wants to tackle the menace in its forthcoming 3rd annual asset summit scheduled for between March 31 and April 1, 2014 at Eko Hotel and Suites, Lagos.

Chidi Umeano, principal consultant of the group, explained that the firm, which has decided to hold the summit tagged, “Reduce costs, improve safety & increase profitability through effective asset

management and maintenance,” for the first time in Africa, would educate participants from both private and public sectors on ways to optimally and sustainably manage their assets, asset systems,associated performance, risks and expenditures over their lifecycles for the purpose of achieving their organisational strategic plans.

Umeano noted that asset management is a basic corporate responsibility that should form a key part of the corporate strategy and adopted by all stakeholders as part of their business as usual practices.

He said Codub’s campaign against lack of maintenance, is about adding value, which often involves reducing waste, cutting costs, mitigating risks, saving time and improving efficiencies. “Most business owners need to understand that asset management is not a part of maintenance but that maintenance is a vital part of the whole life of an asset. Unless businesses understand that, they will never get the real benefits that strategic asset management offers…” Umeano adds.

Codub Group currently manages the assets of Metropolitan Police, United Kingdom, Cambridge University, UK, and UK trade and investment, UKTI, among others.