Nigeria House of Representatives proposes National Public Assets Management Commission

The Nigerian House of Representatives is considering the establishment of the National Public Assets Management Commission to oversee the registration, valuation, management, and disposal of Federal Government assets. The proposed National Public Assets Management Commission Bill, 2026, aims to address existing gaps in public asset management by creating a single authority to coordinate records and monitor the condition and utilization of government property.

Under the legislation, public institutions—including ministries, agencies, and government-owned enterprises—would be required to register assets in a central national database and disclose any existing debts or claims against them. Furthermore, these entities would need to obtain the commission’s approval before engaging in transactions such as the sale, lease, or concession of public property.

Sponsored by lawmakers Ademorin Kuye and Lanre Okunlola, the bill stipulates that the commission’s authority would prevail in instances where its provisions conflict with existing laws governing institutions like the Ministry of Finance Incorporated, the Bureau of Public Enterprises, the Asset Management Corporation of Nigeria, and the Nigeria Sovereign Investment Authority. While these specialized institutions would retain their statutory responsibilities, they would be required to operate within the commission’s reporting and approval framework. The commission would also have the power to demand asset inventories, inspect premises, and issue binding directives to ensure compliance.