ECONOMIC RESEARCH AND POLICY MANAGEMENT DEPARTMENT

The reform of the Ministry in 2005 led to the restructuring/transformation of the former Planning, Research and Statistics Department (PRSD) to Economic Research and Policy Management Department. The restructuring was undertaken to re-position the Department as the think tank of the Ministry. The Department is made up of two Divisions and two Support Units. These are; Macro-Economic and Policy Analysis Division, Statistics and Publications Division, Information and Communication Technology (ICT) Unit and Library Services Unit. Each of these division and units is being headed by a Deputy Director.

FUNCTIONS:

• Undertake a systematic analysis of the National Economy and developing models for forecasting possible future trends;

• Make comparisons with other economies, and forecast how developments in the World Economy might affect the National economy;

• Monitor and track Macroeconomic developments in the Nigerian economy;

• Interface with other Ministries, Extra-ministerial Departments and Agencies  and other Government and Non-Government Organizations in the areas of Research, Development and Policy.

• Supervise and Monitor  capital projects of the Ministry and its Agencies;

• Monitor the Implementation of Federal Executive Council Policy/Project Decisions as they relate to Federal Ministry of Finance and its Parastatals and Agencies;

• Generate data and information required to evaluate and plan the activities of the Ministry, e.g. data on the National Economy and Socio-political Developments;

• Serve as the secretariat of the National Economic Management Team (NEMT) and Economic Management Implementation Team;

• Undertake statistical survey on specific subject matter;

• Publicise the activities of the Ministry through its publications, e.g. the Economic and Financial Reports emanating from the Ministry on a Quarterly, Bi-annual and Annual basis.

• Prepare Ministerial Press Briefing and Handover Notes of Honourable Ministers of Finance and the Permanent Secretary, Finance;

• Management of the Ministry’s Library Services;

• Represent the Ministry at Joint Economic Commissions.

• Participate at other National and International fora on economic matters;  

• Monitor and analyze developments in the relevant Regional/International organizations, e.g. ECOWAS, UNDP, OPEC, MIGA, etc.; and

• Carry out other functions that are assigned to the Department from time to time by the PSF, HMSF and HMF.