Ministry Of Finance And Budget

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The State’s Ministry Of Finance And Budget Vision statements, Mission statements and objectives.

Our Vision

  • A best in class Finance Ministry where prudent management of public resources guarantees citizens’ provision of government services and programs, whilst assuring a sustainably healthy financial position.
  • Provide a robust strategy for the effective and efficient management of government revenue and expenditure through monitoring and evaluation so as to assist MDAs to achieve government objectives.

Our Mission

  • Provide: Sound financial policies, advice and systems of internal controls.
  • Manage: The governments financial assets and liabilities prudently and professionally in accordance with IPSAS and other relevant financial policies in line with best practices.
  • Lead: The development of fiscal and financial strategies in order to secure sufficient funding for government programmes and capital expenditure, advise Government on multi/bilateral matters involving loans and debt management;
  • Plan: Providing world class policy framework that responds to the socio-economic challenges of the state, prepare annual estimates to embody projects and programmes and the broad objectives of the Government for each year;
  • Develop: The accounting and budgetary policies, design, implement and maintain global financial and budgetary management systems.
  • Facilitate: Sound fiscal and government wide budgetary planning, decision and monitoring via prudent and timely financial analysis and advice to MDAs and the Executive Governor.

Our Objectives

  • Advise government on financial policies designed to facilitate effective management of the resources of the State;
  • Institute measures that will boost the internally generated revenue of the State as well as ensure timely collection of all revenues accruing to the state;
  • Give intelligent and timely reports about the finances of the State Government and to prepare monthly financial report;
  • Advise Government on all matters involving loans and debt management;
  • Control the expenditure of all ministries and departments and ensure compliance with the procedures in all public finance/expenditure;
  • Carry out studies, analysis and diagnosis of fiscal research and financial operations of the State and disseminate its results to Government, its institutions and General public for use.

Contacts

Twitter Handle: @oyominfinance

The Ministry operates through five departments:

  • Administration and Supplies: for general administration of the Ministry including personnel management.
  • Fiscal Research: Undertaking studies, diagnosis, analysis and framework for fiscal and financial operatives of the State with a view to promoting greater efficiency in sourcing, allocation and management of resources;
  • Budget Department: for preparation and processing of annual estimates of Government’s Ministries, Departments and Agencies and Monitoring of its implementation;
  • Debt Management: to track the State Government’s debt profile both external and domestic and maintain reliable database of all the loans taken or guaranteed by Government or any of its agencies.
  • Finance and Account Department: for the Ministry’s finance management.
  • The annual budget process is the main tool of the Ministry’s fiscal policy formulation and implementation:
    • Issuance of circulars to MDAs
    • Pre-treasury and treasury board meetings
    • Budget presentation to the State House of Assembly
    • Budget analysis by the Honourable Commissioner for Finance and
      • Budget considering and approval by the State House of Assembly assent to the Budget by the Governor.
    • Budget implementation

Name:

Designation: HONOURABLE COMMISSIONER

Official Contact Address: Ministry Of Finance & Budget

P.M.B 5341, Secretariat, Ibadan

Oyo state, Nigeria

  • Biometrics and payroll automation.
  • Payment of pension arrears
  • Payment of arrears of 142% increase
  • Increment of Car Loan to a minimum of N150,000 and maximum of N500,000 per person
MAY, 2011 MAY, 2012 MAY, 2013 MAY, 2014 MAY, 2015 MAY, 2016 FEBRUARY,2017
CIVIL SERVANTS 11,996 10,933 10,655 11,329 11,232 10,831 9,944
POLITICAL/PUBLIC OFFICERS 398 403 601 239 728 146 211
PARASTATALS 2,301 2,252 1,827 1,713 2,287 2,042 1,601
TESCOM 19,274 18,683 17,853 17,193 19,388 17,837 17,418
HIGHER INSTITUTIONS 3,728 5,803 5,639 5,464 7,026 6,631 7,090
TOTAL 37,697 38,074 36,575 35,938 40,661 37,487 36,264