The Ministry of Finance Incorporated and the Bureau of Public Enterprises, have signed a Memorandum of Understanding, in a move to enhance asset management and attract investments for the federal government.
The partnership, aimed at optimizing government assets, was formalized at the Presidential Villa in Abuja on Tuesday, overseen by Senator Ibrahim Hadejia, the Deputy Chief of Staff to the President (Office of the Vice President).
Senior Special Assistant to The President on Media & Communications, Office of The Vice President, Stanley Nkwocha, in a State House press release, said the collaboration comes as part of the Presidential Enabling Business Environment reforms, which aims to streamline government operations.
The MoU between the MOFI and the BPE seeks to establish a clear framework for cooperation, ensuring the effective delivery of their respective mandates.
Speaking at the event, Senator Hadejia highlighted the necessity of the partnership, citing recent reforms in MOFI that led to overlaps with BPE’s responsibilities.
“We are here today for the joint signing of a ? Memorandum of Understanding between MOFI and the BPE. This is a result of the federal government’s reform of MOFI, which redefined some of its roles and created new mandates. We identified some overlaps between the new MOFI mandate and what the BPE is doing”, he said.
Speaking earlier, the Managing Director/Chief Executive Officer of MOFI, Dr. Amstrong Takang, emphasized the importance of delineating responsibilities between the two entities for efficient service delivery.
“The reform of MOFI had led to the need to clearly define the relationship between both government’s entities for more effective delivery”.
“This will ensure a more effective delivery of our respective mandates, especially at a time like this when the government needs all the resources to deliver on good governance and optimize its assets. We are very excited about the new phase in our relationship,” he added.
Acting Director General of the BPE, Ignatius Ayewoh, expressed optimism about the collaboration, pointing out its role in fostering an investment-friendly environment in Nigeria.
He also noted the significance of legal and regulatory certainty for investors, affirming the commitment of both agencies to upholding transparency and efficiency.
“This event signifies that Nigeria is an investment-friendly clime. The BPE recognizes deeply that investors want where there is a legal and regulatory relationship between the agencies of government. We are excited to move ahead, and together we will make sure that is not undermined in international business relationships”, Ayewoh said.