The inaugural Corporate Governance Forum, organized by the Ministry of Finance Incorporated (MOFI), commenced on the 7th of April 2025.
The two-day event, held at the prestigious Transcorp Hilton in Abuja, carries the theme Ensuring Value Creation in State-Owned Enterprises (SOEs) through Better Corporate Governance. It represents a significant step toward improving Nigeria’s public sector performance. Moreover, it supports the country’s ambitious goal of achieving a $1 trillion economy.
In his opening address, Dr. Shamsuddeen Usman, Chairman of the Board of Directors of MOFI, emphasized the importance of effective corporate governance. According to him, it is a key driver of economic growth. He also highlighted that good governance ensures accountability and transparency.
Additionally, the Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, reiterated the government’s commitment. He stated that President Tinubu’s administration is focused on addressing inefficiencies in the public sector. These inefficiencies, he noted, continue to challenge economic advancement.
Dr. Doris Uzoka-Anite, the Honourable Minister of State for Finance, conveyed a goodwill message. She reaffirmed the government’s commitment to strengthening corporate governance frameworks within SOEs. This, she noted, is essential for achieving optimal performance.
Dr. Ndiame Diop, the World Bank’s Country Director for Nigeria, also addressed participants. He stressed that improved governance is a critical element of sustainable development.
In his keynote address titled “Making SOEs Engines of Development Through Better Corporate Governance: An International Perspective,” Dr. Ishmael Yamson, Chairperson of the Board at Ishmael Yamson & Associates, explored global trends. He discussed how improved governance leads to enhanced performance in state-owned enterprises.
Indeed, Nigeria’s journey towards a $1 trillion economy is filled with challenges. However, initiatives like the MOFI Corporate Governance Forum show a strong commitment to reform. The event offered a platform for stakeholders to share strategies for better governance, improved performance, and the transformation of SOEs into engines of economic development.
As MOFI transitions from a passive asset custodian to an active asset manager, its new role is clear. The Ministry is positioning itself as a strategic enabler of economic growth. Ultimately, it aims to make Nigeria’s public enterprises key players in building a prosperous future.
Ubong Usoro
