The Ministry of Finance Incorporated has been directed to develop a comprehensive roadmap for valuing and managing all Federal Government of Nigeria assets, both domestic and international.
This initiative emphasizes transparency, accountability, and alignment with global best practices, with clear milestones and timelines to ensure effective implementation.
The Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite, highlighted that this initiative is a crucial step toward unlocking Nigeria’s economic potential.
The Federal Government aims to maximize the value of its assets to benefit all Nigerians and drive growth across key economic sectors.
Dr. Uzoka-Anite noted that, globally, effective asset management plays a crucial role in economic development, revenue generation, and improved 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.
The Minister emphasized the need for MOFI to uphold transparency and accountability in its operations to effectively deliver value to Nigerians in line with its core mandate.
She noted that this would enable MOFI to serve as a trusted custodian and proactive manager of Federal Government assets.
Dr. Uzoka-Anite urged MOFI to develop strategies that drive economic impact, particularly through job creation, while ensuring investment diversification across industries, sectors, and asset classes to enhance resilience.
She emphasized the importance of collaboration with other Ministries, MDAs and international financial institutions to strengthen MOFI’s effectiveness.
Earlier, MOFI’s Managing Director, Dr. Armstrong Ume Takang, reaffirmed the organization’s commitment to transparency and accountability.
Takang noted that MOFI has developed strategic plans to optimize asset management, including partnerships with other MDAs to drive economic growth and job creation.
