The Coordinating Minister of the Economy Wale Edun has stated that corporate governance can serve as a key lever in President Tinubu’s push to build a $1 trillion economy, urging state-owned enterprises (SOEs) to meet global standards of transparency, ethics, and performance.
Speaking at the Ministry of Finance Incorporated (MOFI) Corporate Governance Forum in Abuja on Monday, the Honourable Minister described the newly introduced MOFI Scorecard as a vital benchmark for institutional health—designed to position SOEs for investment, growth, and long-term value creation.
“This scorecard is not just a document—it’s a test,” Mr. Edun said. “Strong governance attracts capital, builds trust, and delivers real economic returns.”
The two-day forum, themed “Ensuring Value Creation in State-Owned Enterprises Through Better Corporate Governance,” brought together CEOs, regulators, and development partners to examine how better oversight can unlock Nigeria’s public asset potential.
Referencing entities like NNPC Ltd, HM Edun noted that SOEs must be investor-ready as the government shifts from debt-heavy budgets to equity-based growth. He also pointed to positive macro signals and falling food and fuel prices—as early signs of a stabilising economy.
MOFI Chairman Dr. Shamsudeen Usman confirmed the scorecard will be enforced through independent assessments, including for MOFI itself. “We’re not asking others to do what we haven’t already done,” he said.
MOFI CEO Dr. Armstrong Takang outlined a rollout that includes third-party evaluations, remediation plans, and public recognition through the annual MOFI Excellence Awards.
Backed by the World Bank, the initiative marks a shift in how Nigeria manages public wealth—with governance now central to growth, resilience, and investor confidence.