Reps Committee Begins Enumeration, Valuation Of Public Assets


The House of Representatives Committee on Public Assets has commenced action to ensure the enumeration and valuation of public assets as well as the asset register in compliance with the House resolution.

The Chairman, House Committee on Public Assets, Rep. Ademorin Kuye made this known to the News Agency of Nigeria (NAN) in Abuja on Thursday.

Kuye said the committee decided to commence immediate action to recover assets worth trillions of naira from stolen and moribund public assets within and outside Nigeria.

This according to him is to help the Federal Government in the full implementation of the 2024 Budget.

The House of Reps had earlier passed a resolution urging the Ministry of Finance Incorporated (MOFI) to embark on a comprehensive enumeration and valuation of all public assets.

The House also gave the Nigerian Institute of Estate Surveyors and Valuers (NIESV) the same task of publishing a detailed inventory of assets in a register that would be available to the public.

The chairman, however, said his committee had written to the management of MOFI and other relevant organisations in line with the House resolution.

According to Kuye, the Committee will also check indiscriminate sales and misappropriation of government assets.

Kuye said the Committee on Public Assets is founded on three pillars that define its mandate.

These, according to him, include

“Strong oversight of public asset management and disposal in all the MDAs, guardianship of national assets, and governance of forfeited assets.”

He said the objective was to transform these assets into engines of economic growth through asset monetization, investment maximization, innovative revenue generation, and strengthening asset management practices.