The House of Representatives has advocated for the need for a public asset register in the country for transparency and accountability purposes.
This was contained in a release by the chairman house committee on public asset during a retreat organized titled: Guardians of public trust:
Transforming public assets oversight and legislation.
The chairman , Hon Ademorin Kuye believes these assets are highly underutilized and is hindering optimal use.
In his words , “We gather here with a shared recognition of the challenges that have long impeded the optimal management of our public assets. The journey we embark upon today is marked by a collective resolve to navigate these challenges, to instigate change, and to set forth a pathway that leads to sustainable growth and prosperity.”
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He also clamored for a complete overhaul of our asset documentation system hence the need for an asset register
“our mission lies the crucial task of overhauling our asset documentation systems. We’ve witnessed how inadequate records have led to significant financial losses, a gap in our national accounting that we can no longer afford. It’s time to move towards a future where every asset is meticulously recorded, its value and potential fully acknowledged”.
While proffering solutions, he reiterated the need for Insurance policies covering public assets to be given attention they merit, ensuring that they reflect true value and effectively mitigate risks. This is a key step in safeguarding our assets against unforeseen circumstances.
He also harped on the importance rigorous oversight of the MDAs in charge of public assets to ensure they operate with utmost efficiency and in full compliance with established regulations.
The scoe of our oversight also stretches beyond our borders, keeping a vigilant eye on international investments. These investments must be managed to yield optimal returns, contributing significantly to our national financial health.
Lastly, hon Kuye advocated for the importance of maintaining a comprehensive asset register which will serve as the foundation of our understanding of government assets, both domestically and internationally. It’s a tool that will bring clarity and transparency to our operations.
As we delve into our discussions today, let’s keep in mind the profound impact of our decisions and strategies. Together, let us pave the way for a future where public asset management is synonymous with integrity, innovation, and prosperity.
Thank you for your commitment to this cause. I look forward to a day of productive discussions and innovative resolutions.
