Effective Asset Management, Key to Wealth Creation and Sustainability — Governor Adeleke

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 By Oduduwa Media 

 Tobiloba-Taiwo Awofadeju


Osun State Governor, Senator Ademola Adeleke, has emphasized the importance of effective asset management as a critical tool for wealth creation and long-term sustainability in government.

The Governor made the assertion at a seminar organized by the Osun State Assets Management Agency with the theme “Our Assets, Our Collective Wealth and the Development of Our State”, held at the Local Government Service Commission Hall, State Secretariat, Abere.

Speaking through the Commissioner for Government House and Protocol, Hon. Soji Ajeigbe, Governor Adeleke noted that the protection and proper management of public assets, both fixed and movable, are the collective responsibility of all citizens. He described the assets as public trust meant for the benefit of both present and future generations.

In her remarks, the Special Adviser to the Governor on Assets Management, Hon. Fausat Sarumi-Adebanjo, alongside the Executive Secretary of the Osun State Assets Management Agency, Mr. Oyesiku Adelu, stated that the agency was empowered by the Osun State Assets Management Law of 2018. 

They asserted that the agency is tasked with the disposal of unserviceable government assets and those that drain the state’s resources, as well as overseeing asset procurement, installation, and long-term utility, stressing that the agency has been upright in discharging its responsibilities.

Hon. Adebanjo further added that the agency has developed an asset register, which is currently being updated, and is undertaking a comprehensive valuation of all government properties.

Delivering their papers at the seminar, the guest lecturers, TPL Niyi Olanipekun and Dr. Rotimi Olugbohungbe, defined assets as both tangible and intangible resources that enhance growth capacity. They explained that assets are resources controlled by an entity as a result of past events, from which future economic benefits are expected to flow.

The duo, who highlighted the common challenges in asset management to include corruption, encroachment, abuse, neglect, and poor handling, therefore urged proper management of public assets in order to ensure long-term benefits for generations to come.

The seminar was attended by top government officials across various Ministries, Departments, and Agencies (MDAs) of government, as well as staff and management of the Osun State Assets Management Agency.

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