MOFI, BPE Forge Alliance to Optimize FG’s Assets

The MoU signing ceremony

*Partnership to enhance asset utilisation, attract investments

The Ministry of Finance Incorporated (MOFI) and the Bureau of Public Enterprises (BPE) have entered into a collaborative partnership aimed at bolstering the federal government’s asset management and investment prospects.

The agreement, witnessed by the Deputy Chief of Staff to the President (Office of the Vice President), Senator Ibrahim Hadejia, at the Presidential Villa in Abuja on Tuesday, is part of the Presidential Enabling Business Environment reforms, which have streamlined government operations.

The MoU seeks to establish a clear relationship between the two entities, ensuring effective delivery of their respective mandates, particularly in optimising government assets.

Presiding of over the event on Tuesday at the Presidential Villa Abuja, Senator Hadejia, said the partnership followed the recent reform of MOFI, which redefined some of its roles and created new mandates, leading to overlaps with the BPE’s existing responsibilities.

He said, “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.”

Earlier, Managing Director/Chief Executive Officer of MOFI, Dr. Amstrong Takang, noted that there is a need for a clear delineation of responsibilities between the two entities.

“The reform of MOFI had led to the need to clearly define the relationship between both government’s entities for more effective delivery,” he said.

“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.

On his part, the Acting Director General of the BPE, Ignatius Ayewoh, said the partnership is aimed at fostering an investment-friendly environment in Nigeria.

“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.”