The Managing Director and Chief Executive Officer of the Ministry of Finance Incorporated (MOFI), Dr. Armstrong Ume Takang, has said Nigeria’s democratic journey has played a significant role in driving infrastructure development, strengthening public institutions and supporting economic growth.
Speaking during activities marking Democracy Day 2026, Takang noted that democratic governance has provided the enabling environment for reforms aimed at improving institutional capacity and unlocking value from government-owned assets.
According to him, democracy remains a critical foundation for sustainable development and economic transformation.
“Democracy provides the foundation for institutional growth and economic progress. The ongoing reforms within the public sector, particularly the effort to unlock value from government-owned assets, demonstrate long-term vision and a commitment to national development,” he said.
Takang explained that one of the major achievements of the current reform agenda is the transformation of the Ministry of Finance Incorporated into a strategic asset management institution focused on preserving, growing and optimising the value of the Federal Government’s commercial assets.
He noted that MOFI has evolved from a passive holder of government investments into an active portfolio management institution tasked with enhancing the performance and value of public assets.
The MOFI boss said the reforms are designed to ensure that government-owned enterprises and investments contribute more effectively to national revenue generation, economic growth and infrastructure development.
He added that strengthening asset management practices would help improve transparency, accountability and efficiency in the management of public resources while creating long-term value for Nigerians.
According to him, the repositioning of MOFI aligns with broader government efforts to implement economic reforms, attract investments and maximise returns from public sector assets.
Takang reaffirmed the agency’s commitment to supporting national development through strategic asset management and sustainable value creation across the Federal Government’s investment portfolio.
