To stimulate investments in Nigeria, the Ministry of Finance Incorporated (MOFI) has launched a N100 billion project preparation fund.
The Managing Director/Chief Executive of MoFI, Mr Amstrong Takang disclose this at the Public Wealth Management Conference in Abuja.
Takang said MOFI, as the trusted custodian and the shareholder for the Federal Government of Nigeria’s investment assets is executing a number of initiatives aimed at contributing towards building a more inclusive and sustainable economy.
The Managing Director/Chief Executive of MoFI said the conference would foster collaboration among stakeholders, facilitating the exchange of insights, experiences, and best practices in managing public assets.
According to him, by working together, stakeholders could find innovative solutions to the challenges faced by the economy
Takang noted that efficiency, transparency, and accountability were at the heart of effective public wealth management, stressing that the conference would be used as an avenue to optimize the performance and returns from the Federal Government’s assets under MoFI’s management, ensuring that they deliver maximum value for the Nigerian people.
He said given the importance of public wealth in rebuilding the economy, especially at a time when there is a need for more focus on domestic resource mobilisation, now is the time to encourage the exploration of innovative mechanisms such as public-private partnerships and alternative financing models.
Takang stated that by unlocking hidden value in public assets, the country can attract investments and drive economic growth for Nigerians.
Also, he explained that the conference would provide potential investors with data-driven insights on the Federal Government assets, noting that by presenting compelling investment opportunities, MoFI can attract the capital needed to fuel economic development and create jobs for Nigerians.
The Chairman, Board of Directors of MoFI, Shamsudeen Usman said the body will leverage and explore innovative strategies that will unlock the full potential of the government’s public assets.
“We are starting a journey that other nations such as Singapore, Sweden, more recently, Saudi Arabia have undertaken before.
“We will blend the lessons learned from such country’s experiences with the unique circumstances of Nigeria. We are committed to working collaboratively with all stakeholders to achieve our project.
“From the 10-year plan, we have in line with Mr President Tinubu’s emphasis on delivering results, identifying a number of key deliverables, and setting specific key performance indicators to track and report our performance, we aim to maximise returns, attract investment, and guarantee sustainable economic growth.”