Ministry of Finance and Economic Planning (MOFEP)

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Mandate & Key Functions

Mandate & Key Functions

The Ministry of Finance and Economic Planning operates as the central hub for executive coordination. Its core mandates include:

Fiscal Policy and Public Financial Management
  • Formulate and implement fiscal and monetary policies that promote macroeconomic stability.
  • Manage national revenue, expenditure, and public debt in line with development priorities
  • Ensure efficient budget preparation, execution, and financial reporting.
  • Develop national economic strategies and medium-term development plans.
  • Coordinate with ministries, states, and development partners on economic policy alignment.
  • Monitor and evaluate progress toward national economic goals.
  • Oversee customs, taxation, and public revenue systems.
  • Promote reforms to enhance revenue collection and broaden the tax base.
  • Strengthen institutional capacity to reduce fiscal deficits.
  • Facilitate domestic and foreign investment to stimulate economic diversification.
  • Oversee public-private partnerships (PPPs) for infrastructure and development projects.
  • Ensure transparency and accountability in capital expenditure management.
  • Manage relations with international financial institutions, donors, and partners.
  • Negotiate financial assistance, development loans, and grants.
  • Align donor-supported projects with national development priorities.
  • Conduct economic analysis, forecasting, and research to inform policy decisions.
  • Publish regular reports on fiscal performance, national accounts, and economic indicators.
  • Support evidence-based policymaking through data-driven insights.