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.