The Federal Government has launched a new corporate governance scorecard aimed at evaluating, monitoring, and improving the performance of State-Owned Enterprises (SOEs) across Nigeria.
The announcement was made by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on Monday in Abuja during the official unveiling of the Corporate Governance Scorecard.
The initiative, led by the Ministry of Finance Incorporated (MOFI) in partnership with the World Bank, seeks to enhance governance in SOEs and drive value creation through better management practices.
The event, themed “Ensuring Value Creation in State-Owned Enterprises Through Better Corporate Governance,” brought together key policymakers, regulators, and development partners to discuss strategies for improving SOE governance and addressing existing challenges.
Edun highlighted the critical role SOEs play in the national economy, with significant influence in sectors such as energy, infrastructure, telecommunications, and financial services. However, he pointed out that inefficiencies, poor financial management, and governance issues have often limited their potential to drive economic growth, job creation, and industrial advancement.
“The focus should not be on questioning the existence of SOEs, but on how we can reposition them to effectively achieve their mandates and contribute meaningfully to national development,”
Edun emphasized, underscoring the importance of corporate governance in ensuring the long-term success of these enterprises.
