By Mibzar Nixon Jallo
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun has inaugurated the panel for the Ministry of Finance Incorporated (MOFI) Awards to celebrate as well as recognize government agencies and individuals who have distinguished themselves in the management of state-owned enterprise, (SOEs).
The minister at the formal announcement of the panel, recently, in Abuja noted that celebrating excellence among the Federal Government’s portfolio of state-owned enterprises, signals an unwavering commitment to raising the bar of performance and governance in Nigeria’s public sector.
Edun reiterated that MOFI serves as the asset manager for the Federal Government, charged with the responsibility of ensuring that investments and SOEs are managed prudently and professionally.
While revealing that the Award team introduced the new Corporate Governance Scorecard earlier this year as a mechanism to assess, monitor, and enhance the performance of SOEs, the minister added that this scorecard is not just a bureaucratic exercise, but a test meant to hold enterprises accountable to measurable standards.
The minister who charged managers of SOEs and public servants to manage public assets with accountability and transparency also urged members of the awards panel to take decisions that are merit-based and free of favouritism.
“Let me emphasise why these awards have been created and the purpose they serve. The MOFI Excellence Awards are not about applause for its own sake; they were conceived to promote corporate governance excellence, high institutional performance, and strategic alignment across MOFI’s portfolio of public enterprises”.
“In essence, this programme will shine a spotlight on those boards and management teams that exemplify transparency, accountability, and strong performance. We intend to recognise agencies and their leaders who demonstrate high standards of transparency, accountability, and performance in managing public assets. By doing so, we send a clear message that good governance and results will be rewarded, and that every entity under MOFI should strive towards the highest ideals of service and stewardship” he noted.
“To the award panel, I cannot overstate the weight of responsibility that rests on your shoulders. You are pioneers in this endeavour, custodians of a process that will set the benchmark for years to come. The decisions you make, the standards you uphold, will have profound implications for our nation’s public sector. We must get it right. This is an open, independent process, and it must be seen by all to be merit-based and free of favouritism”, the minister noted.
