Reps propose commission to track, manage FG assets

The House of Representatives in Nigeria has proposed the establishment of the National Public Assets Management Commission, which would oversee the registration, valuation, management, and disposal of Federal Government assets. The bill, introduced by representatives Ademorin Kuye and Lanre Okunlola, aims to address gaps in the management of public assets by creating a single authority to coordinate records, monitor asset value, condition, and utilisation.

The proposed legislation requires public institutions to register their assets in a central national database, disclose existing debts and other claims, and obtain the commission’s approval before undertaking any transactions involving the sale, lease, concession, or disposal of public property. A key feature of the bill is the establishment of a National Public Assets Register, which would serve as the authoritative database for Federal Government property and investments, containing information such as location, ownership, acquisition cost, current value, condition, maintenance history, legal status, revenue generated, and outstanding financial obligations associated with each asset.

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