Technical Panel to Grade Government Companies for MOFI Awards
By Patience Ikpeme
A special group of experts has started work to check how well government-owned companies are being run.
This independent technical panel was set up by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, in December 2025.
The panel will look at these companies to see if they are following the law, if their leaders are doing a good job, and if they are truly helping their various sectors.
This check-up is happening before the Ministry of Finance Incorporated (MOFI) holds its first-ever Excellence Awards, which is planned for the second quarter of 2026.
According to a statement from MOFI on Sunday, these awards will celebrate government agencies that show they are disciplined, perform well, and follow the rules. The organizers want everyone to know that for them, “Good Governance is Not optional.”
The ministry said that this move shows they are serious about making sure government-owned businesses are open and answerable to the public. The awards are part of a bigger plan to set up a strong system for managing public property, which matches the economic reform plans of President Bola Ahmed Tinubu.
To make this work, the ministry is using the “MOFI Corporate Governance Scorecard” which was started in April 2025. This scorecard is like a report card that measures how boards and managers are doing compared to international standards of honesty and safety.
The Ministry explained that this is a major change in how Nigeria looks after public businesses.
“The MOFI Excellence Awards mark a structural shift in how Nigeria manages public enterprise: transparency is mandated, compliance is measured, and institutional outcomes remain the ultimate measure of fiscal discipline,” the Ministry said.
By using this system, the government hopes to ensure that companies owned by all Nigerians are working properly and producing the right results.
