Initiative Aims to Create Jobs, Stabilize Naira, and Drive GDP Growth
President Bola Ahmed Tinubu has unveiled a bold plan to leverage the country’s vast public assets, aiming to generate millions of jobs and inject liquidity into the foreign exchange market.
Speaking at the inaugural Public Wealth Management Conference organized by the Ministry of Finance Incorporated (MOFI), President Tinubu outlined his administration’s strategy to optimize the nation’s Gross Domestic Product (GDP) by tapping into previously underutilized resources.
Represented by Vice President Kashim Shettima at the event held in Abuja, President Tinubu emphasized the importance of identifying and maximizing returns on government-owned assets, which he estimated to be worth trillions of naira.
The centrepiece of the initiative is a target to raise at least $10 billion to bolster foreign exchange reserves, thereby stabilizing the Nigerian currency and fostering economic growth.
Acknowledging decades of mismanagement and neglect of public assets, President Tinubu underscored the need for transparency, accountability, and innovative partnerships to unlock their revenue potential.
He stressed that improved returns from these assets would be directed towards critical sectors such as education, healthcare, infrastructure, and housing, to alleviate and foster sustainable development.
The newly restructured Ministry of Finance Incorporated is set to play a central role in managing these assets, with a focus on high-level corporate governance and restoring investor confidence.
As part of its renewed mandate, MOFI announced the launch of a N100 billion Project Preparation Fund to ensure professionalism in asset management and deliver commercial value for the common good.
In attendance at the conference were government officials including the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, as well as representatives from the private sector, including CEO of Heirs Holdings, Mr. Tony Elumelu.
The gathering underscored the collaborative effort required to unlock Nigeria’s full economic potential and create a brighter future for all citizens.
Stanley Nkwocha, Senior Special Assistant to the President on Media & Communications made this known on his social media handle on Tuesday.
