The House of Representatives has pledged to recover national assets corruptly acquired by politicians and civil servants.
The House committee chairman on Public Assets, Ademorin Kuye, stated this in Abuja at a one-day retreat organised by the panel on the theme, “Guardian of Public Trust: Transforming Public Assets Oversight and Legislation.”
“We gather here with a shared recognition of the challenges that have long impeded the optimal management of our public assets,” he said.
Kuye said they resolved collectively to recover stolen national assets in order to instigate change and cause sustainable growth and prosperity.
While he added that the House will overhaul the asset documentation systems, the lawmaker said inadequate records have led to significant financial losses and a gap in national accounting that can no longer be afforded.
He said it’s time to move towards a future where every asset is meticulously recorded and its value and potential fully acknowledged.
“Picture these assets as hidden treasures, merely awaiting the right strategy to transform into vital cogs contributing to their economic machinery and growth,” he said.
Kuye said through rigorous audits and strategic planning, they will unlock their potential, channeling their latent value back into the economy.
He said their efforts go beyond mere management; they extend to ensuring that their public assets significantly contribute to the national Gross Domestic Product (GDP).
“Insurance policies covering public assets will be given the attention they merit, ensuring that they reflect true value and effectively mitigate risks,” he said.
He said this is a key step in safeguarding assets against unforeseen circumstances.
“We stand firm in our commitment to enforce sanctions on Ministries, Departments, and Agencies (MDAs) that deviate from the set regulations,” he added.
He said commitment aligns with the Federal House of Representatives agenda, and they will not shy away from sanctioning agencies responsible for abandoned or unapproved projects.