Profile of Ministry of Economic Planning, Budget & Development

In 1991, when Osun State was carved out of the old Oyo State, there existed the Office of Planning and Budget (OPB) which was responsible for the coordination of Budget for all Ministries, Departments and Agencies and (MDAs) in the State, preparation of annual Budget and Monitoring of its implementation in line with the approval State Development plans and policies. Over the years, the Budget and Planning functions were separated into two different agencies of Ministry of Finance and Economic Development (MF&ED) and the Central Economic Planning Office (CEPO) respectively.
However, the need for convergence of Budget and Planning led to the creation of Office of Budget & Economic Planning (OBEP) in the last quarter of the Year 2013 by the Administration of Ogbeni Rauf Aregbesola. Further to this, the restructuring exercise carried out in January 2016 which reduced the State’s Ministries to twelve (12) changed the structure of the Office of Budget & Economic Planning to a full-fledge Ministry called the “Ministry of Economic Planning, Budget and Development”
The Ministry was established to be a service oriented and specialized outfit, charged with the responsibilities of advising Government on policies coordination of programmee and activities that will fast-track the State development in line with the 6-point Integral Action Plans of the present Government and the State Development Plans (SDP).

Budget Department

Economic Planning Departments

Monitoring and Evaluation Department

International Cooperation Department

Finance and Account Department

Administration and Supplies Department

Information Department

Vision

1. To become the agency that plan, guide and facilitate growth and development of the State economy through efficient and effective motivation, allocation and utilization of resources that ensure services delivery and good governance thus transforming the State of Osun to become one of the economically stable in the Federation. 2. To promoting quality service delivery and good governance in the State through an efficient and effective mobilization, allocation and use of resources of the State on development programmes/projects for socio-economic transformation of the State.

Mission

To ensure that socio-economic policies and plans are properly formulated and implemented through prudent and equitable management of the State’s resources.

Objectives of the Ministry

  1. To prepare for the initiation, development and review of plans designed to accelerate the growth and development of the economy and facilitate the achievement of higher standard for the people of the State.
  2. To promote optimum utilization of available resources through technical advice on how the resources would be best used to the betterment of the masses.
  3. To strengthen internal resilience, regional and national competitiveness.
  4. To harmonize policies from MDAs and advice the State Government on ones that will promote the Socio-economic development in the State.
  5. To carry out periodic review of the projects and programmes in order to ensure conformity with the laid down objectives.
  6. To liase with other sister’ agencies of government on the collection of basic data, analysis and advice government on the Manpower Development Policy of the State.
  7. To enhance the efficiency of public sector expenditure and general Economic Management of the State.
  8. To develop and maintain an econometric model of the State, to utilize such model in selecting priorities for the Medium Term Development Strategy (MTDS), tracking the implementation and in making modifications to the MTDS.