Buhari Charges MOFI to Grow FG’s Assets from N10tn to N100tn By 2033
President Muhammadu Buhari has charged the Ministry of Finance Incorporated (MOFI) to grow its Assets Under Management (AUM) from the current value of N18 trillion to at least N100 trillion in the next 10 years. Buhari handed down the directive yesterday, at the State House, Abuja, at the launch of the new MOFI and inauguration of the Governing Council and Board of Directors of the body shortly before the commencement of the Federal Executive Council meeting. The president further tasked the new board to be the clearing house for the management of federal government investments and assets in line with global best practices with a view to ensuring that these investments are delivering superior risk-adjusted returns to the government. He also called on the new MOFI to, work with other MDAs to create a consolidated national asset register with a view to converting the assets into cashflow-generating entities. This, he said would support the government’s revenue drive and partner the government with a view to using government-owned investments and assets to support the government in delivering on its social and economic obligations to the citizenry.
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