By Emma Ujah, Abuja Bureau Chief

Abuja – The establishment of the National Asset Register will unlock liquidity for the Federal Government, Minister of State for Finance, Dr. Doris Uzoka-Anite, has said.

Speaking at the launch of the Register and the 2020–2023 Federation Account Allocations Compendium in Abuja, Uzoka-Anite noted that the government’s balance sheet had been consistently in the red due to the failure to properly capture its assets.

“We know we have a lot of assets locked in different places and agencies, but no single financial statement can truly reflect the health of the country,” she said.

She explained that quantifying, valuing, and documenting these assets would enable the government to:

Better manage its balance sheet

Improve debt sustainability

Enhance financial projections

Leverage fixed assets for liquidity

Uzoka-Anite emphasized that once the government’s assets are properly accounted for, it will be easier to raise funds and attract foreign investments, positioning Nigeria as a viable destination for global investors.

Meanwhile, outgoing Accountant-General of the Federation (AGF), Dr. Oluwatoyin Madein, said the decision to establish the National Asset Register was made in 2016, but she gave the project the necessary push.

She also announced the publication of a compendium of Federation Account Allocations (2020–2023) to enhance transparency by providing public access to government funds received at all levels.

Dr. Madein bows out today, as Mr. Shamsudeen Olujimi takes over as the new AGF.