Nigeria President Muhammadu Buhari has inaugurated the Ministry of Finance Incorporated (MOFI), which is the federal government’s investment vehicle.
It is part of overall measures to revive and restructure non- performing assets and boost government revenue.
The investment agency according to the president who is the chairman of the governing council is fully set up as a world class investment company with a new management and board, with core professionals with specialisation in portfolio management.
Other members of the council include Ministers of finance, aviation, trade and investment, transportation ,minister of state petroleum resources and the Governor of the Central bank.
The president in his remarks charged the governing council and board of directors to among other things prioritize government investments to deriving highest returns from the current estimated 18trillion Naira to 100 trillion Naira in 10years
The inauguration preceded the weekly meeting of the federal executive council which is currently underway.