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he Federal Ministry of Finance convened a close-out meeting on the Personnel Audit and Skills Gap Analysis (PASGA) exercise with the Office of the Head of the Civil Service of the Federation and consultants to review findings, validate outcomes, and set the direction for implementation across the Ministry.

At the session, the Permanent Secretary, Special Duties, Mr. Mohammed Sanusi Danjuma, set a firm tone, describing the exercise as a structural intervention that will shape how human resources are deployed across the Ministry.

He stated that the PASGA process has moved beyond routine verification, providing a clear basis for examining workforce composition and aligning personnel with operational priorities.

According to him, the effectiveness of the Ministry depends on the deliberate placement of skills where they are most required, noting that the exercise offers a practical framework for achieving that objective.

Mr. Danjuma further emphasised that the process enables management to interrogate existing structures, identify gaps, and take informed decisions on workforce planning.

He acknowledged the role of the Office of the Head of the Civil Service of the Federation in driving the initiative, adding that the exercise strengthens the capacity of Ministries, Departments and Agencies to respond to evolving governance demands.

Providing details of the exercise within the Ministry, the Director, Human Resource Management, Mrs. Aderonke Jaiyesimi, stated that the process commenced in October 2025 and was implemented in close coordination with consultants.

She disclosed that 752 officers completed the personnel audit, while 504 officers undertook the skills gap assessment, reflecting substantial participation across the Ministry.

Of this number, 255 officers have received personnel audit certificates, while 242 have been issued skills assessment certificates, with outstanding cases currently undergoing resolution.

Mrs. Jaiyesimi explained that the exercise has improved the accuracy of personnel records and provided a clearer mapping of skills and competencies across departments and units.

She noted that the emerging gaps highlight areas requiring adjustment, particularly in aligning staff capabilities with institutional requirements under ongoing public service reforms.

In her presentation, the lead consultant from TWPC Tech, Dr. Mojisola Olegbegi, outlined the structure of the nationwide exercise, noting that the programme is being implemented by 16 consultants across MDAs.

She stated that the public service remains central to governance delivery and that the PASGA framework is designed to address critical skills gaps affecting performance.

While acknowledging the level of participation recorded by the Ministry, she encouraged sustained engagement with the process to ensure that identified gaps are addressed in a structured and measurable manner.

The meeting also provided a platform for questions, clarifications, and internal deliberations on the way forward, with a focus on translating findings into actionable outcomes.

The Ministry reaffirmed its commitment to applying the results of the exercise to strengthen workforce planning, improve institutional coherence, and support more effective service delivery.

Efe Ovuakporie
Deputy Director, Information and Public Relations

16th April 2026

Today’s meeting of the Intergovernmental Group of Twenty-Four (G24) on International Monetary Affairs and Development convenes at a critical moment for the global economy, as emerging markets and developing economies continue to face multiple and overlapping shocks, including geopolitical tensions, tighter financial conditions, and climate-related vulnerabilities.

As Chair of the G24, the Federal Republic of Nigeria has the honour of guiding today’s deliberations. Nigeria, under the leadership of the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun continues to work closely with member countries to strengthen collective advocacy on issues central to the development agenda of emerging and developing economies.

Today’s discussions focused on key priorities, including:
• Strengthening global economic resilience in the face of persistent shocks
• Enhancing the international financial architecture, including IMF quota and governance reforms
• Expanding access to adequate and predictable development financing
• Addressing rising debt vulnerabilities and improving debt resolution frameworks
• Supporting job creation, inclusive growth, and long-term structural transformation
• Reinforcing multilateral cooperation between the IMF, World Bank Group, and other international partners

Members reviewed recent global economic developments and exchange views on coordinated policy responses that can better support vulnerable economies.

The G24 Deputies have already engaged in substantive preparatory discussions, and their inputs are reflected in the issue notes and draft communiqué before members.

Nigeria, as Chair of the G24, reaffirms its commitment to fostering consensus, amplifying the voice of developing countries, and advancing a fair, inclusive, and effective global financial system that supports sustainable development for all.

Signed:
The Ministry

In steadfast in advancing Mr. President’s Eight (8) Priority Areas, the Permanent Secretary of Finance, Federal Ministry of Finance, Mr. Raymond Omachi said the Ministry will continue to manage the nation’s finances with the highest standards of transparency and accountability, ensuring prosperity for both present and future generations.

The Permanent Secretary Finance disclosed this today while giving his welcome address at the 2026 Central Results Delivery Coordination Unit (CRDCU) Retreat of the Ministry and its Agencies in Jalingo, Taraba State, with the theme, “consolidating the Achievements of the Eight Presidential Priorities: the Role of the Federal Ministry of Finance in Results Delivery”.

The Permanent Secretary Finance who was represented by the Director Technical Services Department, Mr. Bashir Abdukadir explained that the choice of Taraba State for the retreat was carefully selected in recognition of the importance of strengthening collaboration between the federal and sub national governments, as well as the federal government’s commitment to inclusivity in national development efforts.

Omachi who conveyed his deep appreciation to the Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, the Honourable Minister of State for Finance, Mr Taiwo Oyedele, and His Excellency, the Executive Governor of Taraba State, Dr. Agbu Kefas and his team for the warm hospitality and support in hosting the retreat, stated that this “gesture underscores the spirit of partnership required to advance our collective development objectives”, adding that, the Ministry attaches great importance to this retreat, as it provides a platform to galvanize our collective efforts and strengthen synergy under the leadership of the Honourable Minister of Finance and Coordinating Minister of the Economy.

He reiterated that “this retreat comes at a critical time in our nation’s development journey when we are navigating a dynamic global economic landscape and addressing pressing domestic fiscal challenges” it is imperative that we strengthen coordination, sharpen our focus and enhance our delivery mechanism, he added.

Earlier, the Taraba State Governor, His Excellency, Dr. Agbu Kefas who was represented by the State SGF, Barr. Gibon Kataps said that ” this retreat is not only essential but also timely, considering the challenges facing the global economy amid rising energy costs caused by the crisis in the Middle East, which Nigeria is not immature to”.

The Governor explained that his State has been proactive in adopting global best practices that promote accountability, inclusivity and prevent financial leakages, particularly in fiscal and monetary policies, leading to greater transparency and fostering ease of doing business.

However, the retreat which serves as a critical platform to examine the Deliverables and Key Performance Indicators (KPIs) of the Ministry, have paper presentations which includes;
a. Overview of the Federal Government Delivery system and presidential priorities.

b. Understanding the Ministerial Deliverables for Federal Ministry of Finance and mapping of Agencies.

c. CRDCU Delivery Reporting Framework

d. Review and validation of 2026 Ministerial Deliverables, KPIs and targets.

The retreat has in attendance top government officials, policy makers, representative of key institutions, Stakeholders and CRDCU’S focal Officers from different Ministries, Department and Agencies (MDAs).

Signed

Efe Ovuakporie
DD (Information and PR)
April 1, 2026

+The Honourable Minister of State for Finance, Mr. Taiwo Oyedele, has underscored the imperative of institutional coherence and cross-departmental coordination in advancing the Ministry’s ongoing tax policy reforms.

Mr. Oyedele made this known while receiving the Head of the Information and Public Relations Unit, Mrs. Efe Ovuakporie, during the ongoing series of strategic briefings by Directors at his office in Abuja.

The briefing sessions are designed to provide the Honourable Minister with a structured insight into the Ministry’s portfolio encompassing key programmes, policy instruments, and operational priorities geared towards strengthening informed decision-making.

Speaking, the Minister stressed that effective policy execution within the fiscal space requires deliberate collaboration, procedural transparency, and disciplined efficiency across all departments and units. He reiterated his commitment to deepening institutional capacity and ensuring that the Ministry’s activities are firmly aligned with the Federal Government’s economic reform trajectory.

He further assured staff of his openness to forward-looking ideas and practical initiatives capable of driving measurable and sustainable economic outcomes.

Earlier in her presentation, the Head of the Information and Public Relations Unit, Mrs. Efe Ovuakporie, articulated the Unit’s role as the Ministry’s strategic communications hub responsible for shaping public understanding, interpreting policy direction, and safeguarding institutional credibility.

She outlined the Unit’s core functions to include the development and dissemination of official communications through press releases, media engagements, and stakeholder interface, as well as the coordination of protocol-related engagements and the amplification of the Ministry’s visibility across diverse media platforms.

Ovuakporie also drew attention to critical operational gaps, noting that optimal performance of the Unit is contingent on the provision of essential tools and logistics. She identified priority needs to include digital work devices (iPads, laptops, desktops), consumables, and a dedicated operational vehicle to support field coverage and media activities.

During the session, Directors and Heads of Units presented comprehensive briefings on their respective mandates, outlining key achievements, ongoing challenges, and forward-looking strategic priorities.

Deliberations during the engagements spanned across core fiscal issues, including tax reform initiatives, revenue mobilisation, budget performance, and broader public financial management reforms.

The briefings signal the commencement of a structured engagement process aimed at repositioning the Ministry to respond with agility and precision to evolving economic realities.

Efe Ovuakporie
Head, Information and Public Relations Unit

As part of the Federal Ministry of Finance’s commitment to transparency, accountability and continuous interaction with citizens and key stakeholders, the Ministry held its Q1 2026 Citizens and Stakeholders’ Engagement session today at the Permanent Secretary Finance’s Conference Room, Abuja.

In attendance were, the Permanent Secretary Finance, Mr. Raymond O. Omachi, the Director General of Securities and Exchange Commission (SEC) Dr. Emomotemi Agama, some Directors of the Ministry (ICT, Technical Services, ERPM), the Ministry’s CRDCU’s Delivery Manager, Mr Uyi Osagie, Some Special Advisers to the Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, Focal Officers and Stakeholders.

Information and PR Unit
March, 16, 2026

The Federation Account Allocation Committee (FAAC), at its March 2026 meeting chaired by the Honorable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, shared a total sum of N1.894 Trillion to the three tiers of government as Federation Allocation for the month of February 2026, from a gross total of N2.230 Trillion.

From the stated amount inclusive of Gross Statutory Revenue and Value Added Tax (VAT), the Federal Government received N675.086 Billion, the States received N651.525 Billion, the Local Government Councils got N456.467 Billion, while the Oil Producing States received N110.949 Billion as Derivation, (13% of Mineral Revenue).

The sum of N77.302 Billion was given for the cost of collection, while N259.078 Billion was allocated for Transfers Intervention and Refunds.

The Communique issued by the Federation Account Allocation Committee (FAAC) at the end of the meeting indicated that the Gross Revenue available from the Value Added Tax (VAT) for the month of February 2026, was N668.450 Billion as against N1.083 Trillion distributed in the preceeding month, resulting in a decrease of N414.710 Billion.

From the stated amount, the sum of N26.738 Billion was allocated for the cost of collection and the sum of N22.593 Billion given for Transfers, Intervention and Refunds. The remaining sum of N619.119 Billion was distributed to the three tiers of government, of which the Federal Government got N61.912 Billion, the States received N340.515 Billion and Local Government Councils got N216.692 Billion.

Accordingly, the Gross Statutory Revenue of N1.561 Trillion received for the month was lower than the sum of N1.957 Trillion received in the previous month by N395.138 Billion .

From the stated amount, the sum of N50.564 Billion was allocated for the cost of collection and a total sum of N236.485 Billion for Transfers, Intervention and Refunds.

The remaining balance of  N1.274 Trillion was distributed as follows to the three tiers of government: Federal Government got the sum of N613.174 Billion, States received N311.010 Billion, the sum of N239.776 Billion was allocated to LGCs and N110.949 Billion was given to Derivation Revenue (13% Mineral producing States).

Oil and Gas Royalty and Excise Duty increased significantly, while Petroleum Profit Tax (PPT) Hydrocarbon Tax (HT), Companies Income Tax (CIT)/CGT and SDT and Value Added Tax (VAT) decreased substantially. Import Duty and CET Levies, increased marginally.

According to the Communique, the total revenue distributable for the current month of February 2026, was drawn from Statutory Revenue of N1.274 Trillion and Value Added Tax (VAT) of N619.119 Billion, bringing the total distributable amount for the month to N1.894 Trillion.

Signed

Amadi Uloma Nneka
Assistant Director, Information and Public Relations
March 13, 2026.
www.finance.gov.ng

The Federal Government of Nigeria is closely monitoring escalating geopolitical tensions in the Middle East involving the United States, Israel, and Iran, and remains committed to safeguarding Nigeria’s economic stability.

The Economic Management Team (EMT), chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, convened a meeting to assess the impact on Nigeria’s economy. The Honourable Minister also chaired a Naira-for-Crude policy coordination meeting to review energy market developments and their domestic implications.

The situation remains fluid, with global market uncertainty driven by concerns over disruptions to critical energy supply routes, particularly the Strait of Hormuz, already contributing to volatility in crude oil prices and financial markets.
Given Nigeria’s integration with global commodity and financial markets, the government has identified three immediate transmission channels through which the crisis could affect the Nigerian economy:

1. Crude Oil and Gas Prices:
Volatility in global energy markets is already driving increases in domestic prices, including fuel, diesel, cooking gas, and fertiliser.

2. Capital Flows and Financial Markets:
Heightened geopolitical risks may prompt a shift to safe-haven assets, affecting capital flows into emerging markets, including Nigeria, as well as broader financial market
conditions.

3. Global Logistics and Supply Costs:
Disruptions to major shipping and energy supply routes could raise international freight and logistics costs, putting upward pressure on domestic prices.

The Honourable Minister noted that beyond these immediate effects, sustained instability could drive increases in the cost of goods and services, placing further upward pressure on inflation and the cost of living.

At the EMT meeting, Ministers provided sector-specific updates on the evolving situation. Discussions recognised that the ultimate scale of impact on Nigeria will depend on the duration and intensity of the conflict, particularly its effect on global oil supply and prices.

The Economic Management Team is closely monitoring developments across key macroeconomic indicators, including:

• Global crude oil price movements and supply conditions
• Exchange rate developments and potential pass-through to domestic prices
• Capital flows and financial market conditions
• The implications for Nigeria’s fiscal outlook and external reserves

The Federal Government emphasises that Nigeria enters this period of global uncertainty from a position of strengthening economic fundamentals.

Recent data shows real GDP growth of 4.07 percent in Q4 2025, one of the strongest quarterly performances in over a decade, reflecting the positive impact of ongoing economic reforms and improved macroeconomic coordination.

The government remains fully committed to protecting these gains.

Accordingly, the Economic Management Team is maintaining close coordination across fiscal, monetary, and energy policy institutions. Policy options remain under continuous review to mitigate volatility and shield households and businesses from external shocks.
The Honourable Minister of Finance and Coordinating Minister of the Economy emphasised that careful policy calibration will remain central to the government’s response, ensuring that recent progress in macroeconomic stabilisation, revenue mobilisation, and economic growth is not undermined by external developments.

He further noted that the Federal Government will continue to monitor the situation closely and adjust policy measures where necessary to minimise disruptions, sustain investor confidence, and protect the welfare of Nigerians.

The Federal Government assures the public that it remains vigilant and proactive, and will take all necessary steps to preserve Nigeria’s economic stability and sustain its growth trajectory.

Signed:
Mrs. Uloma Amadi
Assistant Director, Information and Public Relations
March 10, 2026
www.finance.gov.ng

The Federal Government has outlined a rigorous roadmap to transition Nigeria into a $1 trillion economy, asserting that the target is a “specific, measurable decision” rather than a mere political slogan.

​Speaking at the 2026 Financial Correspondents Association of Nigeria (FICAN) Annual General Meeting, with the theme “Actualizing President Bola Ahmed Tinubu’s $1 Trillion Economy Agenda” held today in Abuja, the Honourable Minister of State for Finance, Dr Doris Uzoka-Anite, revealed that achieving this milestone will require the nation to maintain a sustained GDP growth rate of between 10% and 12% annually over the coming decade.

​The Minister, who was represented by Amadi Uloma, Assistant Director of Information and Public Relations, noted that while the current GDP stands at approximately $375 billion, the administration is committed to the “ambitious targets that move nations.”
​The first wave according to the Minister is Restoring Market Integrity:
​Reflecting on the administration’s journey since 2023, the Minister highlighted that Nigeria’s economic fundamentals were structurally distorted, some also considered it politically survivable, but necessary decisions of President Bola Ahmed Tinubu to remove the fuel subsidy which she said previously consumed over $5 trillion annually and the unification of the foreign exchange market .

​She explained that ”Investors could not trust the signals our market was sending,” but, “Today, those reforms are being vindicated. In January 2026, Dr. Doris, disclosed that S&P Global Ratings revised Nigeria’s outlook to positive, affirming a high level of confidence in our fiscal, economic and monetary trajectories.”
​The “Second Wave”: DGAS Framework: the Minister disclosed that
​the government is currently transitioning into a “second wave” of reform known as the Disinflation and Growth Acceleration Strategy (DGAS). This nine-pillar framework is designed to move Nigeria away from a consumption-based economy toward productive capacity.
​Key pillars of the DGAS include:
​Industrialization: Moving away from exporting raw materials (which currently account for 70% of inputs) to domestic processing, modeled after the success of the Dangote Refinery.
​Infrastructure: Expanding broadband, data centers, and the Nationwide Energy Expansion Program (solar, hydro, and gas).
​Human Capital: A pipeline targeting technical training for 3 million young Nigerians annually.
​Consumer Credit: Launching a platform to make financing for housing, education, and healthcare accessible to ordinary citizens.
​
Global Re-entry and Compliance
​The Minister noted significant progress in international financial standing, highlighting Nigeria’s recent exit from the Financial Action Task Force (FATF) grey list.
​”This matters because it directly reduces compliance costs for foreign investors,” the Minister explained. Adding that “Capital flows more freely to countries that international regulators trust.”
​
She concluded with a commitment to transparency, noting that the Ministry of Finance now treats investment expenditure as a distinct pillar of public finance to ensure every naira spent builds long-term value for the Nigerian people, informing that “President Tinubu’s $1 trillion economy agenda will not be built through government action alone”. “It will be built through the confidence of investors who trust our institutions, the productivity of entrepreneurs who can access capital and markets, the skills of young Nigerians who find opportunity rather than frustration, and the informed engagement of citizens who understand what their country is trying to do and why”.

Earlier, the FICAN Chairman, Mr Bassy Udo, speaking during his welcome remarks, emphasized the need for bold reforms asserting that “reforms is a foundation to Nigeria’s economic transformation”.
He added that to achieve Nigeria’s economic ambitions, particularly in becoming a $1 trillion economy requires bold reforms.
Mr Udo further called on key players from the financial sectors of the economy to ensure that macroeconomic variable are strengthened.

The Meeting was attended by partners and key stakeholders of the Ministry of Finance.

Signed
Amadi Uloma Nneka
Assistant Director, Information and PR
February 25, 2026
www.finance.gov.ng