WATCH THE VIDEO HERE The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has called on state-owned enterprises to increase standards of transparency, ethics, and performance as Nigeria pushes to build a $1 trillion economy. Speaking at the MOFI Corporate Governance Forum in Abuja, the Minister described the newly introduced MOFI Scorecard as a vital benchmark for institutional health, designed to position state-owned enterprises for investment, growth, and long-term value creation. According to Mr Edun, this scorecard is not just a document; it’s a test, adding that strong governance attracts capital, builds trust, and delivers real economic returns. The two-day forum, themed Ensuring Value Creation in State-Owned Enterprises Through Better Corporate Governance, brought together CEOs, regulators, and development partners to examine how better oversight can unlock Nigeria’s public asset potential. Referencing entities like NNPC Limited, Mr Edun noted that state-owned enterprises must be investor-ready as the government shifts from debt-heavy budgets to equity-based growth. He also pointed to positive macro signals and falling food and fuel prices as early signs of a stabilising economy. On his part, MOFI Chairman, Mr Shamsudeen Usman, confirmed that the scorecard will be enforced through independent assessments, including MOFI itself. “We are not asking others to do what we haven’t already done,” he said. Backed by the World Bank, the initiative marks a shift in how Nigeria manages public wealth, with governance now central to growth, resilience, and investor confidence. The introduction of the governance scorecard is a testament to the Federal Government’s commitment to transforming Nigeria’s economy. As the country moves forward, one thing is clear: transparency, accountability, and growth will be the guiding principles for state-owned enterprises.
$1trn Economy: Edun Tasks State-Owned Enterprises on Transparency, Ethics
