The National Assets Register (NAR) is a critical foundational block of the MOFI mandate as an efficient and effective manager of the nation’s asset portfolio, aimed at improving transparency, efficiency, and accountability in the management of national assets. It serves as a centralized database or single source of truth that records all government-owned assets and investments, ensuring they are well-managed and used to generate better economic value for Nigerians.
A well-documented asset register is essential for effective governance and strategic planning. The NAR strengthens asset visibility and oversight, enabling the government to track, assess, and optimize the use of national resources. With this system, the government can ensure better utilization, maintenance, and value realization from its diverse portfolio of assets.
Why is the NAR Important?
- Better Asset Management: Ensures that government properties are well-maintained and put to productive use.
- Transparency & Accountability: Helps prevent mismanagement and corruption by providing clear records of ownership and usage.
- Improved Economic Value: By properly categorizing and leveraging assets, the government can unlock liquidity, attract investments, and generate more revenue for national development.
- Facilitates Investment & Growth: With a clear record of assets, the government can explore public-private partnerships, leases, or sales where beneficial, ensuring these assets contribute to Nigeria’s economic progress.
The NAR is not just a database it is a strategic tool designed to maximize Nigeria’s wealth for the benefit of all citizens.
For more information visit https://nar.mofi.com.ng/
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