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
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.
Ensure that government spending is within the available resources.
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.
HON.(CHIEF) OYEBAMIJI BOLA
Commissioner for Finance
To be the most efficient and formidable vehicle through which the State Government would achieve self-reliance and fiscal sustainability.
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:
- To advise the State Government on financial policy issues, designed to facilitate effective management of the resources of the State;
- To institute policy measures that will boost the Internally Generated Revenue (IGR) of the State;
- 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;
- To monitor, control and manage all the external finances and international financial obligations of Government;
- To ensure strict adherence to financial Policies and Regulations, Public Finance Management, effective public debt management, regulation of internal and external borrowings of government;
- To manage and regulate fiscal policies of Government vis-a-vis the financial institutions, insurance companies and Government companies including equity participation and;
- To act as the Chief Financial Adviser to Government on all financial matters.
Osun State Governor, Adegboyega Oyetola, on Friday celebrated the year 2020 Cultural Day with workers just as he presented a total sum of N1.2 billion naira bonds to all categories of retirees in the State. The fund, according to the Governor, is for the payment of terminal benefits of some retired workers under the ContributoryFebruary 14, 2020
Governor, the State of Osun, Mr Adegboyega Oyetola has approved the immediate release of the sum of N500million for the payment of entitlement to retired workers enrolled under the Contributory Pension Scheme (CPS). The Head of Service, State of Osun, Dr Festus Olowogboyega, made this known in a statement issued on Wednesday in Osogbo, theFebruary 5, 2020
Government of the state of Osun has disbursed #30m as Death in Service claims to another batch of the next-of-Kin of civil servants who died while in active service of the state government.The disbursement which was made to about ten claimants is one out of the series of batches to be done by the stateJanuary 20, 2020
Gov. Gboyega Oyetola of Osun State on Monday assented to the state’s 2020 Appropriation Bill of N119 billion. The News Agency of Nigeria recalls that the budget tagged, ‘Budget of Restoration,’ was passed by the Osun House of Assembly on December 24. Oyetola, after assenting to the bill, which was formally presented to him by the SpeakerDecember 30, 2019