Federal Ministry of Finance

Name

Federal Ministry of Finance

Legal name

Federal Ministry of Finance, Federal Republic of Nigeria

Website

https://finance.gov.ng

Company type

Public

Founded year

1960

Operating status

Operating

Headcount range

5,001–10,000 employees

Ownership category

akta.pro rank

Product category

Public Finance Administration

NAICS

Public Finance Activities (921130), Executive, Legislative, and Other General Government Support (921), Administration of Economic Programs (9261)

SIC

Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

Central Government Policy, Strategy & Performance (incl. OMB-style functions) (BPAIAAAB)

akta.pro secondary industries

Budgeting & Fiscal Planning (BPAIAEAA), Treasury & Cash Management (BPAIAEAB), Government Accounting & Financial Reporting (BPAIAEAD), Government & Public Sector Disbursements (Tax Refunds, Benefits) (FSAMAKAJ)

Keywords

• Public finance management
• Fiscal policy administration
• Government revenue collection
• Intergovernmental fund distribution
• Economic reform coordination

Headquarters

HQ city

Abuja

HQ country

Nigeria

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Others

Revenue model

1. Tax Revenue Collection: The Ministry oversees tax collection through the Nigeria Revenue Service, with tax-to-GDP ratio improving from under 10% to approximately 12.5%. The Nigeria Revenue Service exceeded its 2025 target of ₦25.2 trillion, achieving about ₦28.3 trillion.
2. Federation Account Allocation: Monthly distribution of federation revenues across Federal Government, 36 states, and 774 local governments through FAAC. March 2026 saw record distribution of ₦2.036 trillion.
3. Customs and Excise Revenue: Revenue from import duties, excise taxes, and border management through Nigeria Customs Service
4. Non-Oil Revenue: Revenue mobilization from non-oil sectors including manufacturing, services, and agriculture, with focus on diversifying away from oil dependency

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

The Federal Ministry of Finance manages, controls, and monitors federal revenues and expenditures for the Federal Government of Nigeria. Its core activities include fiscal policy formulation, budget formulation and execution, revenue mobilization oversight (through the Nigeria Revenue Service and Nigeria Customs Service), intergovernmental revenue distribution via the Federation Account Allocation Committee (FAAC), debt management, and the design and implementation of economic reforms (subsidy removal, FX market unification, tax reform). It also runs citizen-facing social programmes (NELFUND student loans, CREDICORP consumer credit, MOFI housing finance) and the YOUWIN youth entrepreneurship initiative.

Product overview

The Federal Ministry of Finance operates a portfolio of government programs and transparency initiatives rather than a commercial product. Key offerings include the Nigeria Economic Reforms Transparency Portal for public fiscal disclosure, the ARMOR Program-for-Results (with World Bank support) for revenue mobilization reforms, the YOUWIN youth entrepreneurship program, and social welfare initiatives including NELFUND (student loans), MOFI Real Estate Investment Fund (housing), and CREDICORP (consumer credit). The Efficiency Dashboard provides internal MDA compliance monitoring.

Differentiator

Problem solved

Functional benefit

Brands

• ARMOR: Accelerating Resource Mobilization Reforms - a flagship initiative of the Federal Government supported by the World Bank to strengthen domestic revenue mobilization, improve fiscal sustainability and modernize revenue administration
• YOUWIN

Quantifiable outcome

• Q2 2026 real GDP growth of 4.43% year-on-year
• +6 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles5 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• GIZ Nigeria and ECOWAScoreStrategic or Co-development Partner · 29 April 2026GIZ Nigeria and ECOWAS are implementing partners for the FAST (Fast Tracking Transformation through Sustainable Public Finance for Biodiversity) Project, funded by the International Climate Initiative of the German Government. The project aims to integrate biodiversity considerations into fiscal policies and budgeting.
• United Nations Environment ProgrammecoreStrategic or Co-development Partner · 29 April 2026UN Environment Programme collaborates on the FAST Project for biodiversity finance reforms, supporting Nigeria's integration of environmental sustainability into public finance systems.
• British SteelminorChannel Partner/ Reseller/ Distributor · 20 March 2026British Steel secured a record £70 million contract to supply 120,000 tonnes of steel billets to Nigerian construction firms Hitech Nigeria and ITB Nigeria as part of the port redevelopment project.
• Central Bank of NigeriacoreStrategic or Co-development Partner · 17 October 2025Joint working group established to study stablecoin adoption, balancing financial innovation with risks associated with digital currencies and new technologies.
• Nigeria Revenue ServicecoreStrategic or Co-development PartnerThe revenue agency undergoing modernization through ARMOR programme, implementing tax administration reforms including taxpayer registration, tax audit, transfer pricing, electronic invoicing, and compliance management.
• Nigeria Customs ServicecoreStrategic or Co-development PartnerThe customs agency receiving support through ARMOR for modernization, including excise administration, customs automation, systems interoperability, and trade facilitation under the 2026 Fiscal Policy Measures.
• Mota-Engil NigeriacoreImplementation/ SI/ Consulting PartnerContractor for the Kano-Katsina railway project, which is 80% physically complete with December 2026 commissioning target.

Scale indicators13 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• India Ministry of Finance: India's Ministry of Finance oversees India's federal budget, taxation (CBDT, CBIC), public debt, and economic policy through departments of Expenditure, Revenue, and Economic Affairs. Closest peer among large emerging-market federal systems.
• German Federal Ministry of Finance: Germany's Federal Ministry of Finance is the federal finance ministry performing budgeting, tax policy, and federal financial management. Germany is also a direct Nigerian partner through the FAST biodiversity finance project funded by the International Climate Initiative.
• HM Treasury (United Kingdom): HM Treasury is the United Kingdom's economic and finance ministry, responsible for public spending, taxation, debt management, and economic policy. Closest functional peer in a developed-market Anglophone context; UK is also a major Nigerian partner via UK Export Finance.
• U.S. Department of the Treasury: The U.S. Department of the Treasury performs the analogous federal finance ministry function for the world's largest economy: revenue collection (IRS), debt management, fiscal policy, and international economic relations. Most direct functional peer globally.

Regional players

• Brazilian Ministry of Finance: Brazil's Ministry of Finance (Ministério da Fazenda) handles federal fiscal policy, revenue, and public debt for Latin America's largest economy. Fellow BRICS emerging market with comparable tax reform and debt management challenges; also a FAST project partner alongside Nigeria.
• South Africa National Treasury: South Africa's National Treasury performs federal budgeting, revenue collection (SARS), and public finance management in the largest sub-Saharan African economy. Africa-region peer with comparable federal fiscal management mandate and emerging-market context.

Others

• World Bank: The World Bank provides Program-for-Results financing and Implementation Support Missions for Nigeria's ARMOR revenue mobilization program. Key multilateral counterparty in the Federal Ministry of Finance's reform agenda, but operates as an external funder rather than peer ministry.
• Central Bank of Nigeria: The Central Bank of Nigeria is Nigeria's monetary authority, jointly working with the Federal Ministry of Finance on stablecoin adoption and FX policy. Sister government institution rather than direct competitor; complementary monetary and fiscal mandate.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/finminnigeria
• Facebookfacebook.com/Finminnigeria
• LinkedInlinkedin.com/company/finminnigeria

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

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Frequently asked questions about Federal Ministry of Finance