• Organization TypeGovernment
  • HeadquartersNigeria
  • Founded1957

Federal Ministry of Finance, Budget and National Planning (Nigeria)

The Federal Ministry of Finance was established in 1957 by the then Governor-General of the Federation of Nigeria, Sir James Robertson. The Finance Ordinance (Control and Management Act) was promulgated in June 1958, and came into force on 31st July, 1958. The Ordinance placed on the Ministry, the responsibility for the Control and Management of public finances of the Federation. The core functions of the Ministry are derived from the above-mentioned laws.  At present, the major functions of the Ministry are as follows: Preparing annual estimates of revenue and expenditure for the Federal Government (The bulk of this role is performed by the Budget Office of the Federation, which is presently under the Ministry of Budget and National Planning); Formulating policies on fiscal matters; Formulating policies in collaboration with Central Bank of Nigeria to curb inflation and deflation in the economy; Preparing and publishing Quarterly and Annual Reports on the economy; Mobilizing domestic and external financial resources for development purposes; Monitoring government revenue from oil and non-oil sources; Managing revenue allocation through the Federation Accounts Allocation Committee; Relating with relevant international organizations and financial institutions such as the IMF, World Bank, IFC, West African Financial and Economic Commission, African Development Bank (ADB) Group, Economic Commission for Africa and many other Multilateral Agencies; Coordinating bilateral economic relations with other Countries, and Supervision of the following Agencies: NDIC, SEC, NEXIM, FIRS, NAICOM, NCS, DMO, IST, PTAD, OAGF, AMCON, DBN and NSIA.
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Company Offices

  • Nigeria (headquarters)
  • Abuja
  • Ahmadu Bello Way, Central Business District, P.M.B. 15