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Nigeria Ministry of Finance


Nigeria Ministry of Finance Overview
The Nigeria Ministry of Finance or the Federal Ministry of Finance monitors the various financial and economic affairs of the state of Nigeria. The Federal Ministry of Finance in Nigeria performs a variety of functions related to finance and economics.
The Federal Ministry of Finance manages all the domestic financial affairs of Nigeria. The Ministry also looks after the economic issues of the state of Nigeria on an international basis.

Federal Ministry of Finance Budget Department
The Budget Department of the Federal Ministry of Finance is responsible for formulating the budget for the state of Nigeria.

It also looks at the following aspects of the Nigerian economy:
  • Budget Monitoring and Evaluation
  • Fiscal
  • Expenditure
  • Revenue


Federal Ministry of Nigeria Units
The Federal Ministry of Nigeria executes its various functions through the following units:
  • Anti Corruption Unit
  • Internal Audit Unit
  • Information Unit
  • Legal Unit

Minister of Finance of Nigeria
The Minister of Finance of Nigeria acts as a senior cabinet official of the Federal Executive Council of Nigeria. The primary area of focus for the Minister of Finance is the strengthening of the economic development of Nigeria.

The basic duty of the Minister of Finance of Nigeria is to monitor the finances of the treasury of Nigeria. He is supposed to execute his responsibilities with a lot of clarity, skill and credibility.

The following table provides the names and tenures of the Ministers of Finance of Nigeria:

Name Tenure
Shamsudeen Usman 2007-incumbent
Festus Okotie-Eboh 1960-66
Ngozi Okonjo-Iweala 2003-06
Olu Falae 1989-91
Nneadi Usman 2006-07
Adamu Ciroma 1999-2003






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Last Updated on : 1st August 2013

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