FG Orders MOFI to Develop Asset Valuation Roadmap, Maximize Value
By Patience Ikpeme
The Federal Government has directed the Ministry of Finance Incorporated (MOFI) to create and submit a detailed roadmap for the remuneration and valuation of all federal government assets, both within and outside Nigeria.
The directive includes specific milestones and timelines to ensure proper execution. MOFI is also tasked with optimizing the management of all government assets to enhance their efficiency and economic value. This initiative aims to unlock value for the benefit of all Nigerians and drive growth across key sectors.
Minister of State for Finance, Dr. Doris Uzoka-Anite, issued the directive on Wednesday in Abuja during a meeting with a MOFI delegation led by Managing Director Dr. Armstrong Ume Takang.
She urged MOFI to prioritize transparency and accountability in its operations to maximize value delivery.
According to the minister, well-managed government assets can significantly contribute to economic development, revenue generation, and improved public service delivery. She pointed to examples from Australia, the United Kingdom, and Singapore, where strong asset management policies have been implemented to integrate financial management, asset lifecycle management, and strategic planning.
Dr. Uzoka-Anite called on MOFI to develop strategies that will have a direct economic impact on Nigerians, particularly in job creation. She encouraged diversification of investments across industries, sectors, and asset classes to strengthen resilience and ensure long-term economic benefits.
She also urged MOFI to collaborate with other Ministries, Departments, and Agencies (MDAs) of the Federal Government, as well as international financial institutions, to enhance its effectiveness.
Dr. Armstrong Ume Takang, MOFI’s Managing Director, stated the organization’s commitment to transparency and accountability. He revealed that MOFI has developed strategic plans to optimize asset management through partnerships with MDAs to stimulate economic growth and job creation.
Dr. Takang also noted MOFI’s commitment to diversifying investments across different industries and asset classes, ensuring long-term sustainability and economic development.
