Monrovia, Liberia – The government of Liberia is preparing to establish a coordinated system for protecting state-owned vehicles, buildings, equipment and other public assets as the Boakai administration seeks to reduce financial losses and strengthen accountability for government property.
The proposal was presented to Cabinet on Thursday, August 27, during its regular meeting at the Executive Mansion, chaired by President Joseph Nyuma Boakai.
The initiative would create a government-wide framework for identifying, verifying, valuing and insuring public assets while establishing clearer responsibilities for managing risks and processing claims when government property is damaged or lost.
The proposal came from the National Insurance Corporation of Liberia, which told Cabinet that stronger protection of government property could reduce the financial exposure created when public assets are destroyed, damaged or otherwise lost.
At the heart of the proposal is the planned creation of a comprehensive Government Public Asset and Loss Register.
Such a register would provide government with a centralized record of public property and reported losses, potentially giving authorities a clearer picture of what assets the state owns, where they are located, what risks they face and how losses are being handled.
The Cabinet discussion comes against the backdrop of President Boakai’s broader demand for greater accountability in the management of public resources.
At the meeting, the President warned Cabinet members and heads of public institutions that government decisions cannot end with policy pronouncements. He called for stronger follow-up to ensure decisions are implemented and produce visible improvements in government systems and services.
That emphasis gives the proposed asset protection framework significance beyond insurance.
A coordinated system could establish clearer lines of responsibility over public property, from the initial identification of an asset to risk assessment, insurance coverage, budgeting, claims management and reporting.
For a government managing scarce public resources, preventing or recovering the value of damaged or lost property can have direct implications for the national budget.
Instead of repeatedly absorbing the full cost of replacing uninsured government vehicles, equipment or facilities, an effective insurance mechanism could transfer some risks to insurers, subject to the terms of individual policies.
But the success of such a system would depend heavily on accurate government records.
Without reliable information about the number, condition, location and ownership of public assets, insurance coverage could be difficult to administer and losses harder to verify.
The proposed asset and loss register could therefore become a critical component of the government’s broader accountability architecture.
Cabinet’s discussions also included public procurement, with the administration examining efforts to move government purchasing into an electronic system and address weaknesses affecting procurement performance.
Taken together, the two measures point toward a common objective: strengthening controls over public resources from the moment government spends money to acquire an asset through the period during which that asset remains in state custody.
The administration’s challenge will be turning the policy decisions into functioning systems across ministries, agencies and commissions.
President Boakai has made clear that Cabinet decisions are expected to produce tangible results rather than remain on paper.
