Submit Roadmap For Valuation Of All FG Assets, Finance Minister Tells MOFI

The federal government on Wednesday took a bold step towards unlocking Nigeria’s economic potential by tasking the Ministry of Finance Incorporated (MOFI) to optimise the management of government assets.

This strategic move is aimed at not only unlocking value that benefits all Nigerians but also facilitating growth across key sectors of the economy.

The Minister of State Finance, Dr Doris Uzoka-Anite, made the call in her office in Abuja when she received a high-level delegation from MOFI, led by its Managing Director, Dr Armstrong Ume Takang.

She observed that globally, government assets are fundamental resources that, when effectively managed, can significantly contribute to the economic development of countries, generate revenues, and enhance public service delivery.

Uzoka-Anite stated that effective public asset management is crucial for unlocking substantial economic potential worldwide.

According to her, countries like Australia, the United Kingdom, and Singapore have implemented robust Assets Management policies that integrate financial management, assets life cycle management, and strategic planning

As part of strategic alignment and value delivery, the minister called on MOFI to ensure transparency and accountability in its operation in order to deliver value to Nigerians in alignment with its core mandate.

This, she added, will enable it to act as a trusted custodian and active manager of federal government Assets.

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 asset 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 financial 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

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 Ministries, Departments, and Agencies (MDAs) to drive economic growth and job creation.

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 assets 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.

Submit Roadmap For Valuation Of All FG Assets, Finance Minister Tells MOFI is first published on The Whistler Newspaper