The Ministry of Finance Incorporated (MOFI) has devised strategic plans to enhance the management of Government assets, focusing on collaborative efforts with various Ministries, Departments, and Agencies (MDAs) to stimulate economic growth and create employment opportunities.
Armstrong Ume Takang, Managing Director of MOFI, who disclosed this Wednesday in Abuja, emphasised the organization’s commitment to transparency and accountability.
He was speaking when he led his team on a Courtesy visit to Doris Uzoka-Anite, Minister of State for Finance.
Takang also highlighted MOFI’s focus on diversifying investments across various industries and asset classes to enhance resilience and ensure sustainable economic development.
Uzoka-Anite called on MOFI to ensure transparency and accountability in its operation in order to deliver value to Nigerians in alignment with its core mandate, as part of strategic alignment and value delivery.
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This, she said, would enable MOFI to act as a trusted custodian and active manager of the Federal Government assets.
She stated that effective public assets management is crucial for unlocking substantial economic potential worldwide.
She cited countries like Australia, the United Kingdom, and Singapore, which have all implemented robust Assets Management policies that integrate financial management, assets life cycle management, and strategic planning.
The Minister observed that globally, Government’s assets are fundamental resources that, when effectively managed, could significantly contribute to the economic development of countries, generate revenues, and enhance public service delivery.
She urged MOFI to develop strategies that would have a significant economic impact on Nigerians, particularly in creating jobs.
Additionally, she emphasised the need for it to diversify its investments effectively across various industries, sectors, and asset classes to enhance resilience and ensure sustainable economic development.
She also urged MOFI to collaborate with other Ministries, Departments, and Agencies (MDAs), as well as international financial bodies to enhance its effectiveness.
The Minister also asked MOFI to develop and submit a comprehensive roadmap for the valuation and remuneration of all Federal Government assets, both domestically and internationally.
This roadmap should include specific milestones and timelines to ensure a structured approach to asset management.
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