REPS PROPOSE COMMISSION TO TRACK, MANAGE FG ASSETS

The House of Representatives has proposed the establishment of a commission to track, manage and safeguard assets owned by the Federal Government, as part of efforts to improve accountability and prevent the loss or misuse of public property.

The proposal is aimed at strengthening oversight of government assets across ministries, departments and agencies, where concerns have repeatedly been raised about inadequate records, poor maintenance and the inefficient use of public resources.

Under the proposed arrangement, the commission would be responsible for identifying federal government assets, maintaining an updated inventory and monitoring their management and utilisation. The initiative is also expected to improve transparency in the handling of public property and provide a clearer picture of the government’s holdings.

Federal government assets include land, buildings, infrastructure, equipment, vehicles and other properties acquired or maintained with public funds. Without accurate records and effective monitoring, such assets can become vulnerable to mismanagement, unauthorised use, encroachment or loss.

Supporters of the proposal believe a dedicated commission could help address these challenges by establishing a coordinated system for asset registration, valuation, maintenance and supervision. It could also assist the government in identifying underutilised properties and improving their contribution to public revenue and service delivery.

The proposal comes amid broader efforts to strengthen public financial management and reduce waste in government operations. Effective asset management could help government agencies make better decisions about the acquisition, disposal and maintenance of public property.

However, the success of the initiative would depend on the commission’s legal powers, funding, independence and relationship with existing government agencies responsible for managing public assets.

The proposal must also pass through the relevant legislative process before any new commission can be established. Further details on its proposed structure, powers and implementation framework will determine how effectively it could improve the management of federal government assets.