FG Urges MOFI to Optimise Assets, Ensure Transparency

•Demands roadmap on remuneration, valuation of assets worldwide                    

Ndubuisi Francis in Abuja

The federal government has tasked the Ministry of Finance Incorporated (MOFI) to entrench transparency and accountability in its operations while optimising the management of government assets within and outside the country.

This was aimed at not only unlocking value that benefits all Nigerians but also to facilitate growth across key sectors of the economy.

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

She also urged the organisation to develop and submit a roadmap for the remuneration and valuation of all Federal Government of Nigeria (FGN) assets within and outside Nigeria with milestones and timelines.

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

Uzoka-Anite stated that effective public assets management was crucial to unlocking substantial economic potential worldwide.

According to her, countries like Australia, 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 urged 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, would enable it to act as a trusted custodian and active manager of the federal government asset.

She 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 underscored the need for MOFI to partner and collaborate with other ministries, departments and agencies (MDAs) of the federal government as well as world bodies in order to function more effectively.

Speaking earlier, the Managing Director of MOFI, Takang emphasised the organisation’s commitment to transparency and accountability.

He revealed that MOFI had developed strategic plans to optimise assets management, including collaborations with other MDAs to drive economic growth and job creation.

Takang also highlighted MOFI’s focus on diversifying investments across various industries and assets classes to enhance resilience and ensure sustainable economic development.