PROFILE OF THE MINISTRY

The Ministry of Finance is an integral Agency of the State Government responsible for Financial and Fiscal Policies of the State Government. It serves as the nucleus around which other agencies of Government revolve in financial matters.
The responsibility of the Ministry is to formulate policies, which revolve around the three policy instruments of Fiscal, Income and Debt Management for effective actualization of the financial goals and policies of the State. The Ministry of Finance operates basically, through four Directorates namely

Fiscal Policy Matters

Fiscal Policy Matters

Administration and Supplies

Administration and Supplies

Finance and Accounts

Finance and Accounts

Planning, Research and Statistics

Planning, Research and Statistics

Vision

To be the most efficient and formidable vehicle through which the State Government would achieve self-reliance and fiscal sustainability.

Mission

To improve the financial status of the State by maximizing the State’s revenue potentials and ensuring transparency, accountability and sustainability through effective and efficient use of the State’s financial resources.

Objectives of the Ministry

The objectives of Osun Ministry of Finance include;

  1. to advise the State Government on financial policy issues, designed to facilitate effective management of the resources of the State;
  2. to institute policy measures that will boost the Internally Generated Revenue (IGR) of the State;
  3. to control the expenditure of all Government Ministries, Departments and to ensure compliance with the Financial Regulations and prudency in all public expenditure by all MDA’s of the Government;
  4. to monitor, control and manage all the external finances and international financial obligations of Government;
  5. to ensure strict adherence to financial Policies and Regulations, Public Finance Management, effective public debt management, regulation of internal and external borrowings of government;
  6. to manage and regulate fiscal policies of Government vis-a-vis the financial         institutions, insurance companies and Government  companies including equity participation and;
  7. to act as the Chief Financial Adviser to Government on all financial matters.

Core Values

Be fiscally responsible and focused on efficient, effective and prudent use of resources. E.g. timely publication of Annual Financial Statements.
Provide transparent financial reporting to enable public scrutiny and provide apolitical and non-partisan advice.  i.e. timely publication of Annual Financial Statements on the State’s website.
maintain the growth and development in the State’s financial status through steady growth in IGR.
Act professionally with honesty, consistency and impartiality. e. strict adherence to financial laws.
Ensure that government spending is within the available resources.