House of Representatives Proposes Asset Management Bill

The House of Representatives is introducing the National Public Assets Management Commission Bill, 2026, aimed at establishing a commission to oversee the registration, valuation, management, and disposal of Federal Government assets. Sponsored by Lagos lawmakers Ademorin Kuye and Lanre Okunlola, the bill mandates public institutions to register their properties in a central national database and disclose existing debts against their assets.

Institutions must obtain the commission's approval before selling, leasing, or disposing of public property. The proposed legislation would give the commission authority over existing laws governing asset management by various institutions, while those institutions retain their specialized responsibilities.

The commission would be empowered to demand asset inventories, inspect records, and issue directives for non-compliance. A key feature is the establishment of a National Public Assets Register, which will track details of each asset, including its value and obligations.

Institutions will have 12 months from the bill's commencement to comply with these requirements.