Partnership to enhance asset utilization, attract investments
The Ministry of Finance Incorporated (MOFI) and the Bureau of Public Enterprises (BPE) have signed a collaborative partnership aimed at enhancing the federal government's asset management and investment opportunities. This significant agreement was formalized at the Presidential Villa in Abuja on Tuesday, witnessed by the Deputy Chief of Staff to the President (Office of the Vice President), Senator Ibrahim Hadejia.
This partnership is part of the Presidential Enabling Business Environment reforms designed to streamline government operations. The Memorandum of Understanding (MoU) establishes a clear relationship between MOFI and BPE, ensuring the effective execution of their respective mandates, particularly in optimizing government assets.
Senator Hadejia, who presided over the event, highlighted that the partnership stems from the recent reform of MOFI, which redefined some of its roles and created new mandates, resulting in overlaps with the responsibilities of the BPE.
"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," Senator Hadejia stated.
Dr. Amstrong Takang, Managing Director/Chief Executive Officer of MOFI, emphasized the necessity of clearly delineating responsibilities between the two entities. He remarked, "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."
Ignatius Ayewoh, the Acting Director General of the BPE, expressed that the partnership aims to foster an investment-friendly environment in Nigeria. He noted, "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."
This strategic alliance is set to enhance asset utilization and attract significant investments, contributing to the nation's economic growth and stability.
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