The Nigerian government has directed the Ministry of Finance Incorporated (MOFI) to enhance the management of government-owned assets to unlock Nigeria’s economic potential and drive sustainable growth.
According to the government, optimising these assets will create value for all Nigerians and foster development across key economic sectors.
FEDERAL MINISTRY OF FINANCE, ABUJA
PRESS RELEASE
FG TASKS MOFI TO UNLOCK NIGERIA’S ECONOMIC POTENTIAL
The Federal Government has taken a significant step towards unlocking Nigeria’s economic potential by tasking the Ministry of Finance Incorporated (MOFI) to optimize the… pic.twitter.com/5FTVEB50ZS
— Federal Ministry of Finance (@FinMinNigeria) March 12, 2025
In a statement signed by Mohammed Manga, Director of Information and Public Relations at the Federal Ministry of Finance, Minister of State for Finance, Dr. Doris Uzoka-Anite, emphasised the importance of asset optimization during a meeting in Abuja.
She made the call while receiving a high-level delegation from MOFI, led by its Managing Director, Dr. Armstrong Ume Takang, as part of ongoing efforts to strengthen Nigeria’s financial and economic landscape.
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.
Dr Uzoka-Anite stated that effective public asset 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.
As part of strategic alignment and value delivery, the Minister called on MOFI to ensure transparency and accountability in its operation 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 the Federal Government Asset.
Dr 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 the world fund bodies to function more effectively.
Dr Uzoka-Anite urged MOFI to develop and submit a roadmap for the renumeration and valuation of all FGN assets within and outside Nigeria with milestones and timelines.
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.
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 Nigerian 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.
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