The Accountant General of the Federation (AGF), Oluwatoyin Madein has said her office in collaboration with the Ministry of Finance Incorporated (MOFI) are training staff from Ministries, Department and Agencies (MDAs) to collate and evaluate Federal Government assets in order to offset the existing N32 trillion negative liability.

The Accountant General of the Federation said this Tuesday in an interview with journalists after presenting her keynote address at One-day sensitization workshop on Assets Rendition and Preparation of stand-Alone Financial Statements by MDAs.

Madein said even though previous exercises have seen a sharp drop from the N33 trillion negative liability to N18 trillion, she has the confidence that when the officers collate and evaluate the assets before 2024 ending, the nation’s assets should have ended up in negative assets.

“We are in the process of collating the national assets that the Federal Government holds. And that is exactly why we are here, to discuss more on how to do it and achieve that before the end of the year.

“When you prepare assets as financial statements, especially the statement of financial position, you either end up in negative assets or negative liability. You have negative assets when your liability is not less than your net assets. And you have negative liability when your liability is above the assets.

“But the liability, like currently we have about N32 trillion that is negative net liabilities. That is net liability. Which we have been compiling. Before now we have gotten to about N18 trillion. And it is a fact that at the end of this exercise, we will get to the net assets at the end of the day”, she said.

The astute AGF the Federal Government assets registry serves as the nation’s worth to investors and donors, who rely on it for decision making when the need arises.

“The nation has been spending money on acquiring, constructing, and even providing assets. So these assets are the values that the nation can go to everywhere and say this is my worth. That is exactly what we are doing. When we get these assets, it can be seen that this is the worth of Nigeria in terms of all the assets that Nigeria has now”.

The AGF further attributed the growing negative net liabilities of N32 trillion to the non-compliance and the inability of responsible staff in MDAs to collate, evaluate and place value on the assets of the nation.

She emphasized that the OAGF after receiving all assets renditions from MDAs will proceed to build a national assets register to consist of all the assets that the federal government owns including buildings, roads, hospitals, schools, equipment.