In a groundbreaking move, Finance Minister Wale Edun outlines plans to generate $13 billion annually by leveraging Nigeria’s national assets.
The strategy involves creating a comprehensive National Assets Register, meticulously listing all assets across various classes.
Recognizing the pivotal role of governance in wealth creation, Edun emphasizes the need to introduce robust governance structures.
This strategic step aims to enhance the value of national assets, setting the stage for a transformative economic impact.
Edun’s vision extends to the monetization and optimization of national assets, emphasizing the importance of rationalization.
This multifaceted approach ensures not only financial gains but also the efficient use of assets, minimizing waste and maximizing returns.
Ambitiously, the Finance Minister aims to propel the Assets Under Management (AuM) of the Ministry of Finance Incorporated (MoFI) to an impressive N100 trillion, a substantial increase from the current N18 trillion.
This strategic move aligns with broader plans to boost Federal Government revenue and achieve a remarkable Revenue to GDP target of 25% by 2026.
Edun underscores the need to transform idle properties worldwide into revenue streams. By unlocking the potential of dormant assets, the government seeks to address financial challenges and tap into Nigeria’s abundant resources.
The strategy involves identifying unused properties, especially prime locations, and converting them into valuable assets.
The cornerstone of this transformative journey is the creation of a National Assets Register by MoFI.
This register becomes a powerful tool to streamline assets, enhance governance, and drive the monetization and optimization efforts.
Edun envisions this register as a catalyst, propelling Nigeria towards economic prosperity.
Edun emphasizes that the creation of a National Assets Register, coupled with effective policies, could result in a significant revenue surge.
With a hypothetical GDP of $450 billion, the additional revenue could reach $13.3 billion annually.
This not only addresses immediate financial needs but also positions Nigeria for sustained economic growth.