INTRODUCTIONS:

The Finance and Accounts Department is statutorily empowered by the constitution of the Federal Republic of Nigeria, 1999, and the Financial Regulations as revised 2021 edition to manage the finances of the Ministry and maintain accurate accounting records on the following ways 

1. The Department of Finance and Accounts is one of the core services Department of the Ministry. It is responsible for the receipt, recording, custody and disbursement of the Ministry's funds and for the maintenance of proper books of Accounts as well as preparation of the Ministry's Budget.
2. In a ministry's Finance and Accounts Department, key functions include managing the ministry's finances, preparing and monitoring budgets, ensuring financial compliance, and maintaining accurate accounting records, as well as advising on financial matters. 
3. The Finance and Accounts Department is subdivided into (4) four Divisions and headed by a Director from Office of the Accountant-General of the Federation (OAGF).

• Expenditure
• Revenue
• Financial and Reporting
• Budget

FUNCTIONS OF FINANCE AND ACCOUNTS DEPARTMENT:

1. keeping of adequate books of accounting books and records.
2. maintenance of financial prudence, transparency, and accountability.
3. Provision of financial advisory services to all Department, Units and Agencies.
4. Rendering financial returns to Office of the Accountant-general of the Federation.
5. Financial control and management of funds.
6. Representation of the Ministry in the Public Accounts Committee (PAC).
7. Co-ordination, supervision and responding to Federal Audit queries.
8. Collection and remittance of Revenue into the TSA.
9. Preparation and Execution of the budget.

PRESS BRIEFING BY THE HON. MINISTER ON THURSDAY 10TH JULY 2025 AT THE MINISTRY'S HEADQUARTERS ON THE FORTH COMING MAIDEN EDITION OF THE NATIONAL STEEL SUMMIT SCHEDULED FOR 16TH-17TH JULY 2025

The Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu (R) with the Permanent Secretary Dr Chris Osa Isokpunwu (L) during the Press Briefing by the Hon. Minister on Thursday 10th July 2025 at the Ministry's Headquarters on the forth coming Maiden Edition of the National Steel Summit scheduled for 16th-17th July 2025

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MINISTER OF STEEL DEVELOPMENT WELCOMES BENIN PRESIDENT, PATRICE TALON TO WEST AFRICAN ECONOMIC SUMMIT

Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu and President of the Republic of Benin, His Excellency Patrice Talon

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