The federal government has commissioned the Ministry of Finance Incorporated (MOFI) to unlock Nigeria's economic potential by optimizing government assets.
The Government said that this strategic movement aims not to unlock not only a value that benefits all Nigerians, but also facilitates growth in the key sectors of the economy.
The State Finance Minister, Dr. Doris Uzoka-Anite, made the call on Monday at his office in Abuja when he received a high level delegation from MOFI, directed by its managing director, Dr. Armstrong Ume Takang.
He noted that worldwide, government assets are fundamental resources that, when managed effectively, can significantly contribute to the economic development of countries, generate income and improve the provision of public services.
Dr. Uzoka-Anite declared that the effective management of public assets is crucial to unlock substantial economic potential worldwide.
“Countries such as Australia, the United Kingdom and Singapore have implemented solid asset management policies that integrate financial management, asset life cycle and strategic planning,” he said.
As part of the strategic alignment and the delivery of value, the minister asked MOFI to guarantee transparency and responsibility in their operation to deliver value to the Nigerians in alignment with their central mandate.
This, he added, will allow him to act as a custodian of trust and active manager of the federal government assets.
Dr. Uzaka-Anite also asked MOFI to come out with strategies that will economically affect the life of Nigerians, especially in the area of ​​employment creation, and will also guarantee an effective diversification of their investments in different industries, sectors and asset classes to improve resilience.
The minister emphasized the need for MOFI to associate and collaborate with other ministries, departments and agencies (MDA) of the Federal Government, as well as the organizations of the world funds to function more effectively.
Dr. Uzoka-Anite urged MOFI to develop and present a road map for remuneration and assessment of all FGN assets inside and outside Nigeria with milestones and timelines
Speaking before, Mofi's managing director, Dr. Armstrong Ume Takang, emphasized the organization's commitment to transparency and responsibility.
He revealed that MOFI has developed strategic plans to optimize asset management, including collaborations with other ministries, departments and agencies (MDA) to boost economic growth and employment creation.
Dr. Takang also highlighted MOFI's approach in diversifying investments in various industries and asset classes to improve resilience and guarantee sustainable economic development.
Mohammed Manga, director, information and public relations, said that the Federal Government and Mofi embark on this critical trip, reaffirmed their commitment to unlock Nigeria's economic potential.
According to him, by taking advantage of MOFI's experience in asset management and the strategic vision of the government, this association is prepared to boost sustainable economic growth, create jobs and improve the lives of Nigerians.
He added that with transparency, responsibility and collaboration in its nucleus, this initiative will undoubtedly leave a lasting legacy for the coming generations.