The Ministry of Finance Incorporated (MOFI) and the Bureau of Public Enterprises (BPE) have entered into a Memorandum of Understanding (MoU) aimed at enhancing asset management and attracting investments for the federal government.
The formalization of this partnership took place at the Presidential Villa in Abuja on Tuesday, under the supervision of Senator Ibrahim Hadejia, the Deputy Chief of Staff to the President (Office of the Vice President).
According to a press release from the Senior Special Assistant to the President on Media & Communications, Office of The Vice President, Stanley Nkwocha, this collaboration is part of the Presidential Enabling Business Environment reforms, designed to streamline government operations.
The MoU between MOFI and BPE seeks to establish a clear framework for cooperation to ensure the effective delivery of their respective mandates.
Senator Hadejia emphasized the necessity of this partnership, noting recent reforms in MOFI that resulted in overlaps with BPE’s responsibilities. He stated, “We are here today for the joint signing of a Memorandum of Understanding between MOFI and the BPE.
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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.”
Dr. Amstrong Takang, the Managing Director/Chief Executive Officer of MOFI, stressed the importance of delineating responsibilities between the two entities for efficient service delivery.
He stated, “The reform of MOFI had led to the need to clearly define the relationship between both government entities for more effective delivery.”
Acting Director General of the BPE, Ignatius Ayewoh, expressed optimism about the collaboration’s role in fostering an investment-friendly environment in Nigeria.
He highlighted the significance of legal and regulatory certainty for investors and affirmed the commitment of both agencies to upholding transparency and efficiency.
Ayewoh emphasized, “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.”
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