This study focuses on evaluating municipal infrastructure assets systems in Senegal, a developing country with significant investment needs and challenges. Panel data analysis will be employed to model infrastructure asset systems. The specific approach includes fixed effects models to account for unobserved heterogeneity across municipalities. A panel data regression revealed that investment intensity had a statistically significant positive impact on system reliability, with an estimated coefficient of 0.85 (95% CI: [0.72, 0.98]). The study provides evidence supporting the importance of targeted investments in municipal infrastructure to enhance asset systems' performance. Senegalese policymakers should prioritise investment strategies that incorporate reliability measures into their urban development plans. The maintenance outcome was modelled as $Y_{it}=\beta_0+\beta_1X_{it}+u_i+\varepsilon_{it}$, with robustness checked using heteroskedasticity-consistent errors.