Reps to investigate management of public assets by govt. agencies

The House of Representatives has mandated its Committee on Public Assets to investigate the management of public assets by Ministries, Departments and Agencies (MDAs) of government.

The resolution followed the adoption of a motion by Rep. Esosa Iyawe (LP-Edo) during plenary in Abuja on Tuesday .

He said the Federal Government needed to regularly take accurate stock of its assets to ensure economic sustainability, adding that reports showed uncertainty about actual assets owned by the government.

He said the asset valuation had not been given much attention by the Federal Government, and improper documentation had caused avoidable huge economic loss to the country.

This, he said, was an indictment to ministries, departments and agencies of government.

Adopting the motion, the house urged the Ministry of Finance and the Nigerian Institute of Estate Surveyors and Valuers to embark on comprehensive enumeration and valuation of all public assets.

The house also urged the ministry of finance to publish a detailed inventory of the assets in a register that would be available to the public.

The house also mandated the Committees on Finance and Public Assets to ensure compliance, and investigate the management of assets by MDAs..

This is to ensure accountability and eliminate uncertainties regarding assets owned by the Federal Government, and curbing economic loss to the country.