MoFI and BPE Sign MoU to manage FG’s assets, attract investments

The Ministry of Finance Incorporated (MoFI) and the Bureau of Public Enterprises (BPE) have signed a Memorandum of Understanding (MoU) aimed at managing and optimizing federal government assets and attracting investments.

The collaboration aligns with the Presidential Enabling Business Environment reforms, which aim to streamline government operations, Stanley Nkwocha, Senior Special Assistant to The President on Media & Communications, Office of The Vice President, stated in a statement.

According to the statement, the partnership seeks to establish a clear framework for cooperation, ensuring the effective delivery of the respective mandates of MoFI and BPE.

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The signing ceremony took place at the Presidential Villa in Abuja and was overseen by Ibrahim Hadejia, the Deputy Chief of Staff to the President (Office of the Vice President).

Hadejia highlighted the necessity of the partnership due to recent reforms within MoFI that led to overlaps with BPE’s responsibilities. “The joint signing of this MoU between MoFI and BPE is a result of the federal government’s reform of MoFI, which redefined some of its roles and created new mandates. We identified overlaps between the new MoFI mandate and BPE’s existing responsibilities,” he said.

Amstrong Takang, Managing Director and Chief Executive Officer of MoFI emphasized the importance of clearly delineating responsibilities between the two entities for efficient service delivery.

“The reform of MoFI necessitated a clear definition of the relationship between our entities to ensure effective delivery. This partnership will enable us to optimize our assets and deliver good governance at a crucial time,” Takang remarked.

Ignatius Ayewoh, Acting Director General of the BPE, expressed optimism about the collaboration, highlighting its role in fostering an investment-friendly environment in Nigeria. He noted the importance of legal and regulatory certainty for investors, affirming the commitment of both agencies to uphold transparency and efficiency.

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“This MoU signifies that Nigeria is an investment-friendly environment. The BPE is committed to ensuring that the legal and regulatory frameworks are upheld, fostering confidence in international business relationships,” Ayewoh stated.