The Ministry of Budget and National Planning was originally established as National Planning Commission by Decree No 12 Of 1992 and later amended by Act 71 Of 1993. The Ministry has the mandate to determine and advise the Government of the Federation on matters relating to National Development and overall management of the national economy. The detailed objectives, functions, powers, and structure Of the Commission are outlined under sections 2, 3 and 5 Of the Establishment Act.
To be the most efficient planning institution that guides the growth and development Of the Nigerian economy to be and among the leading economies in the world.
To pro-actively determine and efficiently advise on matters relating to national development and overall management of the economy for positive growth, and to ensure that plans and policies are properly implemented by all relevant stakeholders.
The Act provides the commission with the following functions:
- To provide policy advice to the President in particular and Nigeria in general on all spheres of national life;
- To set national priorities and goals and engender consensus among Government agencies, as may be contained in guidelines issued by the Commission from time to time;
- To undertake periodic review and appraisal of the capabilities of the human and material resource Of Nigeria with a view to advancing their development, efficiency and effective utilization;
- To formulate and prepare long-term, medium-term and short-term national development plans and to co-ordinate such plans at the Federal, State, and Local government levels;
- To monitor projects and progress relating to plan implementation;
- To advise on changes and adjustments in institutions and management techniques as well as attitudes necessary for the alignment of actions with plan targets and goals;
- To conduct research into various aspects of national interest and public policy and ensure that the implications and results 0f the findings in such research are geared towards the enhancement of national, economic, social, technological defense and security capabilities and management;
- To mobilize popular group and institutional consensus in support Of Government policies and programmes;
- To manage multilateral and bilateral economic co-operation, including development aid and technical assistance;
- To deal with matters relating to regional economic co-operation, including the Economic Community Of West African States [ECOWAS] the African Common Market [ACM], the United Nations Economic Commission for African and the South-south co-operation; and
- To carry out such other duties as are necessary or expedient for the full discharge of all or any Of the functions conferred on the Commission under the Act.