Nigerian Government Aims for N100 Trillion Asset Under Management (AuM) Growth Over 10 Years
The Nigerian Federal Government, represented by the Ministry of Finance Incorporated (MOFI), has set a target to achieve N100 trillion in Asset Under Management (AuM) growth over the next 10 years. The Chief Executive Officer of MOFI, Dr Armstrong Takang, revealed this during an engagement with capital market stakeholders in Lagos.
The Ministry aims to unlock the value of Nigeria’s public wealth by optimizing the value of the government’s investments and assets. MOFI’s asset classes include corporate assets, concession assets, energy and extractives, fixed assets, financial and intangible assets. The Ministry’s goals also include increasing the economic impact of its portfolio companies by generating an additional $10 billion in GDP by 2033 through strategic investments and partnerships.
MOFI plans to collaborate with the Nigerian Exchange Limited (NGX) to identify entities that can be listed on the stock exchange, contributing to the professionalization of Government Owned and Government Linked entities (GOE and GLEs).
Opinion:
The Nigerian government’s initiative to drive significant growth in Asset Under Management (AuM) reflects its commitment to optimize the value of its assets and investments. This effort aligns with the broader goal of enhancing transparency, governance, and economic impact. By focusing on optimizing assets through strategic investments and partnerships, the government aims to contribute to economic growth and development.
Collaborating with the Nigerian Exchange Limited (NGX) to identify potential listing entities can help strengthen the country’s capital market and provide opportunities for these entities to raise capital for expansion. The successful execution of this initiative has the potential to attract both local and foreign investors, driving economic advancement in Nigeria.