The Ministry of Finance Incorporated (MOFI) has been tasked with developing and submitting a comprehensive roadmap for the remuneration and valuation of all Federal Government of Nigeria (FGN) assets, both domestic and international, while ensuring transparency.
This initiative includes setting clear milestones and timelines.
The Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite, emphasized that this strategic move is a significant step towards unlocking Nigeria’s economic potential.
By optimizing the management of government assets, the Federal Government aims to generate value that benefits all Nigerians and fosters growth across key economic sectors.
Government assets are fundamental resources
Dr. Uzoka-Anite highlighted that globally, government assets are fundamental resources that, when effectively managed, can significantly contribute to a country’s economic development, generate revenue, and enhance public service delivery.
“Effective Public Assets Management is crucial for unlocking substantial economic potential worldwide. Countries like Australia, the United Kingdom, and Singapore have implemented robust asset management policies that integrate financial management, asset life cycle management, and strategic planning,” she stated.
- As part of the strategic alignment and value delivery, the Minister called on MOFI to ensure transparency and accountability in its operations to deliver value to Nigerians in alignment with its core mandate.
- This, she added, would enable MOFI to act as a trusted custodian and active manager of Federal Government assets.
- Dr. Uzoka-Anite further urged MOFI to develop strategies that will economically impact the lives of Nigerians, particularly in job creation, and ensure effective diversification of investments across different industries, sectors, and asset classes to enhance resilience.
She emphasized the need for MOFI to partner and collaborate with other Ministries, Departments, and Agencies (MDAs) of the Federal Government, as well as international financial bodies, to function more effectively.
What you should know
- Speaking earlier, the Managing Director of MOFI, Dr. Armstrong Ume Takang, emphasized the organization’s commitment to transparency and accountability.
- He revealed that MOFI has developed strategic plans to optimize asset management, including collaborations with other MDAs to drive economic growth and job creation.
- Dr. Takang also highlighted MOFI’s focus on diversifying investments across various industries and asset classes to enhance resilience and ensure sustainable economic development.
As the Federal Government and MOFI embark on this critical journey, they reaffirm their commitment to unlocking Nigeria’s economic potential.
By leveraging MOFI’s expertise in asset management and the Government’s strategic vision, this partnership is poised to drive sustainable economic growth, create jobs, and improve the lives of Nigerians. With transparency, accountability, and collaboration at its core, this initiative will undoubtedly leave a lasting legacy for generations to come.
