President Bola Ahmed Tinubu has approved a comprehensive audit of federal investment assets valued at ₦38.3 trillion. The initiative is being implemented through the Ministry of Finance Incorporated (MOFI) as part of the president’s broader economic reform strategy aimed at enhancing transparency, efficiency, and responsible management of national wealth.
MOFI’s recent review of just 20 government-owned enterprises revealed a much higher asset valuation than previously recorded, prompting the need for a national asset registry. This registry will document what the government owns, where assets are located, their current value, and how they perform. It will serve as a tool for determining whether assets should be expanded, restructured, or divested.
As part of the reform, a new corporate governance scorecard will also be introduced to assess the performance of state-owned enterprises. The evaluation will be based on indicators such as dividend payments, capital growth, liquidity, and transparency. According to MOFI CEO Dr. Armstrong Takang, this move reflects President Tinubu’s commitment to accountability and his vision of building a trillion-dollar Nigerian economy driven by well-managed public investments.