The House of Representatives Committee on Public Assets has embarked on a significant initiative to execute the enumeration and valuation of public assets, aligning with a resolution passed by the House. This proactive move, led by Rep. Ademorin Kuye, the Chairman of the House Committee on Public Assets, is geared towards the recovery of assets valued at trillions of naira, specifically targeting stolen and moribund public assets within and outside Nigeria. The committee’s efforts are strategically aligned with supporting the full implementation of the 2024 Budget by the Federal Government.
In an interview, Chairman Kuye disclosed that the committee has initiated immediate actions to execute the enumeration and valuation process. The focus extends beyond mere enumeration, incorporating efforts to recover assets that have been misappropriated. The aim is to bolster the Federal Government’s financial position and strengthen its capacity to execute key projects outlined in the 2024 Budget.
The Green Chamber of the National Assembly had previously passed a resolution mandating the Ministry of Finance Incorporated (MOFI) to conduct a comprehensive enumeration and valuation of all public assets. Additionally, the Nigerian Institute of Estate Surveyors and Valuers (NIESV) was tasked with creating a detailed inventory accessible to the public.
Chairman Kuye emphasized that the Committee on Public Assets operates based on three crucial pillars. Firstly, it involves robust oversight of public asset management and disposal across Ministries, Departments, and Agencies (MDAs). Secondly, the committee is committed to safeguarding national assets, ensuring their proper utilization and preventing mismanagement. Lastly, the initiative includes governing forfeited assets, aligning with the principles of transparency and accountability.
