The Federal Government on has charged the Ministry of Finance Incorporated (MOFI) to optimize the management of government assets by utilizing them to unlock the Nigeria’s economic potential for sustainable national development
The Minister of State for Finance, Dr. Doris Uzoka-Anite, who gave the charge on Wednesday in Abuja when she received a delegation from MOFI, led by its Managing Director, Dr. Armstrong Ume Takang, explained that effective management of the assets would not only unlock value that benefits all Nigerians but also facilitate growth across key sectors of the economy.
She pointed out that globally, governments’ assets remained fundamental resources that, when effectively managed, can generate revenues, enhance public service delivery, and significantly contribute to the economic development of countries.
Uzoka-Anite maintained that effective public assets management was crucial to unlocking substantial economic potential worldwide, citing the experiences in countries like Australia, the United Kingdom, and Singapore that have adopted and implemented efficient assets management policies that integrate financial management, assets life cycle management, and strategic planning to justify her stance
As part of strategic alignment and value delivery in the public finance system, the Minister tasked the management of the MOFI to ensure transparency and accountability in its operation in order to deliver value to Nigerians in line with its core mandate.
Uzoka-Anite further called on MOFI to come out with strategies that will economically impact the lives of Nigerians, especially in the area of job creation, and also ensure effective diversification of its investments across different industries, sectors and assets classes to enhance resilience.
The Minister emphasized the need for MOFI to partner and collaborate with other Ministries Departments and Agencies (MDAs) of the Federal Government as well as world fund bodies in order to function more effectively.
Uzoka-Anite urged MOFI to develop and submit a roadmap for the remuneration and valuation of all FGN Assets within and outside Nigeria with milestones and timelines
Earlier in his remarks, the Managing Director of MOFI restated the management’s commitment to transparency and accountability, adding that MOFI has developed strategic plans to optimize assets management, including collaborations with other Ministries, Departments, and Agencies (MDAs) to drive economic growth and job creation.
Takang also spoke on MOFI’s focus on diversifying investments across various industries and assets classes to enhance resilience and ensure sustainable economic development.
Experts believe that by leveraging MOFI’s expertise in assets management and the government’s strategic vision of enhancing the public finance system, the Ministry of Finance’s partnership with the MOFI will help to achieve sustainable economic growth, create jobs, and improve the lives of Nigerians.
