The House of Representatives Committee on Public Assets has taken decisive steps towards the enumeration and valuation of public assets, aligning with a resolution passed by the House. Rep. Ademorin Kuye, Chairman of the House Committee on Public Assets, disclosed this development in an interview with reporters in Abuja on Thursday.
Kuye emphasized that the committee has embarked on immediate action to recover assets, estimated at trillions of naira, from stolen and dormant public assets both within and outside Nigeria. The objective is to assist the Federal Government in the full implementation of the 2024 Budget. The Green Chamber of the National Assembly had previously passed a resolution, urging the Ministry of Finance Incorporated (MOFI) to undertake a comprehensive enumeration and valuation of all public assets.
In addition, the House mandated the Nigerian Institute of Estate Surveyors and Valuers (NIESV) with the responsibility of creating a detailed inventory of assets in a register accessible to the public.
Chairman Kuye stated that the Committee’s focus extends beyond enumeration and valuation; it includes evaluating unauthorized sales and misappropriation of government assets. He outlined three pillars defining the committee’s mandate: “Strong oversight of public asset management and disposal in all the MDAs, guardianship of national assets, and governance of forfeited assets.”
The initiation of this process marks a crucial step in ensuring transparency, accountability, and the effective management of public resources in alignment with legislative directives.