Coordinating Minister of the Economy, Wale Edun, has identified corporate governance as a cornerstone of President Tinubu’s strategy to build a $1 trillion economy, calling on state-owned enterprises (SOEs) to align with global standards of transparency, ethics, and performance.
Speaking at the MOFI Corporate Governance Forum in Abuja on Monday, Edun introduced the newly launched MOFI Scorecard as a critical tool for evaluating institutional health and positioning SOEs for investment, growth, and long-term value creation.
“This scorecard is more than a document—it’s a test,” he stated. “Robust governance attracts capital, builds trust, and delivers measurable economic returns.”
The two-day forum, themed “Ensuring Value Creation in State-Owned Enterprises Through Better Corporate Governance,” convened CEOs, regulators, and development partners to explore how enhanced oversight can unlock the value of Nigeria’s public assets.
Citing examples such as NNPC Ltd, Edun emphasized the need for SOEs to become investor-ready, particularly as the government transitions from debt-driven financing toward equity-based growth. He also pointed to encouraging macroeconomic indicators, including easing food and fuel prices, as signs of a stabilizing economy.
MOFI Chairman, Dr. Shamsudeen Usman, affirmed that the scorecard will be enforced through independent assessments, including for MOFI itself. “We’re leading by example—we’re not asking others to do what we haven’t done ourselves,” he said.
Dr. Armstrong Takang, CEO of MOFI, outlined a comprehensive rollout plan that includes third-party evaluations, targeted remediation, and public recognition through the annual MOFI Excellence Awards.
Supported by the World Bank, the initiative signals a new era in Nigeria’s public asset management—anchoring growth, resilience, and investor confidence in sound governance.