The Federal Ministry of Budget and Economic Planning in Nigeria was established to oversee the country’s economic planning and budgetary processes.
It has grown since its inception, formulating national development plans and budgets. In 2017, the ministry introduced the National Development Plan (NDP) for 2017-2020, aiming to improve economic growth.
By 2023, it launched the “Nigeria Visualised” platform to improve data accessibility for informed decision-making. However, the ministry continues to coordinate economic policies, monitor government performance, and encourage international economic cooperation.
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List Of Ministers Of Budget And Economic Planning From 2015 Till Date
No | Name | Term In Office | Party |
|---|---|---|---|
1 | Udoma Udo Udoma | 2015-2019 | PDP |
2 | Zainab Shamsuna Ahmed | 2019-2023 | APC |
3 | Abubakar Atiku Bagudu | 2023- present | APC |
Departments Under The Federal Ministry of Budget and Economic Planning In Nigeria
The Federal Ministry of Budget and Economic Planning in Nigeria comprises the following 11 departments:
- Human Resource and Support Services: Responsible for managing personnel and administrative support.
- Research and Development: Focuses on promoting national development through extensive research.
- Finance and Accounting: Manages the financial operations and accounting functions of the Ministry.
- Public Relations: Communicates the Ministry’s activities to the public and stakeholders.
- Policy Formation: Develop policies related to infrastructure and security.
- International Cooperation: Manages multilateral and bilateral economic cooperation.
- Monitoring and Evaluation: Oversees the performance of government initiatives.
- Economic Analysis: Conducts economic analysis, modeling, and forecasting.
- Service Delivery Innovation: Focuses on innovative methods for service delivery within the Ministry.
- Social Development Research: Provides research and advisory services on social development issues.
- Coordination of Extra Activities: Coordinates additional activities that support the Ministry’s objectives.
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Who Is The Current Minister Of Budget And Economic Planning?
The current Minister of Budget and Economic Planning in Nigeria is Abubakar Atiku Bagudu. He was appointed to this position by President Bola Tinubu on August 21, 2023, taking over from Zainab Ahmed.
Bagudu has had a long career in Nigerian politics, having served in different roles before becoming a minister. Bagudu was born on December 26, 1961.
He earned a degree in Economics from Usmanu Danfodiyo University in Sokoto, followed by a master’s degree in Economics from the University of Jos. He also studied International Affairs, which broadened his understanding of global economics and policy.
Bagudu also served as the governor of Kebbi State for two terms, from May 2015 to May 2023. His time as governor saw notable development projects in the state, focusing on agriculture, education, and infrastructure.
He was also a senator representing Kebbi Central from 2009 to 2015 before he became the Governor. Bagudu has always been active in politics, initially being a member of the Peoples Democratic Party (PDP) before switching to the All Progressives Congress (APC) in 2015.
His move to the APC was a new chapter in his political career, as he won the governorship election that same year with a strong majority.
He was re-elected in 2019 with an even bigger margin. However, Bagudu was linked to the late Nigerian dictator, Sani Abacha, who was accused of embezzling billions of dollars from the country during his regime in the 1990s.
Bagudu was reportedly involved in helping to launder some of that stolen money through offshore accounts. Though he faced legal issues in the early 2000s and returned some of the stolen funds, he has not faced any criminal charges in Nigeria.
Despite these controversies, Bagudu has continued to hold influential positions in the Nigerian government. His appointment as the Minister of Budget and Economic Planning puts him in charge of managing Nigeria’s economic policies, especially at a time when the country is facing economic challenges like inflation and unemployment.