President Muhammadu Buhari, on Wednesday, inaugurated the Governing Council, Board of Directors and the Executive Management Team of the Ministry of Finance Incorporated, at the council chambers of the State House, Abuja.
At the official launch which preceded this week’s Federal Executive Council meeting, Buhari tasked the new Governing Council and Board to raise the value of the MoFI’s portfolio from the current N18tn to N100tn ($233m) by 2033.
In his address, the President said the new leadership will take steps to mobilise capital and invest same in assets that are critical to the Federal Government’s revenue drive.
This, he said, would involve reviving and restructuring non-performing assets; turning them into aggressive cashflow-generating entities.
According to Buhari, the inauguration of Governing Council, Board and Executive Management Team became necessary to optimize returns on existing investments.
The governing council is chaired by the President, with the Minister of Finance, Budget and National Planning, Dr Zainab Ahmed, as Vice Chair.