Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun has highlighted corporate governance as a key lever in President Bola Ahmed Tinubu’s push to build a $1 trillion economy.
He urged 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, the 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,” Edun said, adding that “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, 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 that the scorecard will be enforced through independent assessments, including MOFI itself.
“We are not asking others to do what we haven’t already done,” he said.
MOFI CEO c 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.
Mohammed Manga, Director, Information and Public Relations said the introduction of the governance scorecard is a testament to the Federal Government’s commitment to transforming Nigeria’s economy.
According to him, as the country moves forward, one thing is clear: transparency, accountability, and growth will be the guiding principles for the SOEs.
