Finance ministry urges MOFI to ensure transparency in asset valuation and management

This initiative includes setting clear milestones and timelines.

The Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite, emphasized that this strategic move is a significant step towards unlocking Nigeria’s economic potential.

By optimizing the management of government assets, the Federal Government aims to generate value that benefits all Nigerians and fosters growth across key economic sectors.

Dr. Uzoka-Anite highlighted that globally, government assets are fundamental resources that, when effectively managed, can significantly contribute to a country’s economic development, generate revenue, and enhance public service delivery.

“Effective Public Assets 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,” she stated.

She emphasized the need for MOFI to partner and collaborate with other Ministries, Departments, and Agencies (MDAs) of the Federal Government, as well as international financial bodies, to function more effectively.

As the Federal Government and MOFI embark on this critical journey, they reaffirm their commitment to unlocking Nigeria’s economic potential.

By leveraging MOFI’s expertise in asset 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.