MOFI unveils N100bn project preparation fund
By Uzezi Samuel
In a bid to drive investments in Nigeria, the Ministry of Finance Incorporated (MOFI) on Tuesday said it launched a N100 billion project preparation fund.
The Managing Director/Chief Executive of MOFI, Mr Amstrong Takang who disclosed this in Abuja, at the Public Wealth Management Conference, noted that MOFI, as the trusted custodian and the shareholder for the Federal Government of Nigeria’s investment assets has set up several initiatives that would help build a more inclusive and sustainable economy.
Takang stressed that efficiency; transparency and accountability are at the heart of effective public wealth management, noting that the conference would be used as an avenue to optimize the performance and returns from federal government’s assets under MOFI’S management, ensuring that they deliver maximum value for the Nigerian people.
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, he said now is the time to encourage the exploration of innovative mechanisms such as public-private partnerships and alternative financing models.
By unlocking hidden value in public assets, Takang said the country can attract investments and drive economic growth for Nigerians.
He also explained that the conference would provide potential investors with data-driven insights on 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.
In his opening remarks, MOFI Chairman, Dr. Shamsudeen Usman said the organization 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 or Sweden, or more recently Saudi Arabia have undertaken before.
“We will blend the lessons learnt 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’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.”
