The following are the functions of the Federal Ministry of Finance: Preparing annual estimates of revenue and expenditure for the Federal Government:

Formulating policies on fiscal and monetary matters;

Mobilizing domestic and external financial resources through both internal and external financial institutions, for development purposes. Maintaining adequate foreign exchange reserves aimed at Ensuring a healthy balance of payment position;

Maintaining the internal and external value and stability of the Nigerian currency; Monitoring government revenue from oil and non-oil resources;

Supervising the insurance industry;

Managing revenue allocation matters;

Relating with relevant international organization and Financial institutions, such as the Economic Commission for Africa, World Bank, International Monetary Fund (IMF). United Nations Development Programmes (UNDP), Commonwealth Economic Committee, European Union/Africa. Caribbean and Pacific, Economic and Social Commission of the OAU, ECOWAS, etc.



  • Accountant General of the Federal Republic Of Nigeria
  • Budget Office
  • Federal Inland Revenue Service
  • Investment and Security Tribunal National Insurance Commission NEXIM Nigeria Deposit Insurance Commission
  • Nigerian Customs Service
  • Security and Exchange Commission
  • Federal Government Allocation