By Chika Okeke
The Federal Government has unveiled a Ministerial Advisory committee to accelerate fiscal governance and fast-track the implementation of ongoing economic reforms initiated by the Renewed Hope administration.
The 15-member committee comprised economists, public finance experts, governance professionals, development practitioners and organised private sector, expected to provide strategic advice on fiscal reforms, government efficiency, stakeholder engagement and economic coordination.
Inaugurating the committee on Tuesday in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele was optimistic that the committee would unearth practical solutions for economic transformation.
The International Monetary Fund, IMF, had in its 2026 Article IV Mission Concluding Statement, assessed Nigeria’s economic reform programme and macroeconomic outcomes over the past three years.
Oyedele described the committee as a public-policy-private partnership platform designed to improve economic decision-making and deliver measurable benefits to Nigerians.
He listed the difficult reforms introduced by President Bola Tinubu’s administration as the fuel subsidy removal, unification of exchange rate and comprehensive tax reforms, adding that they were necessary to restore fiscal sustainability despite the immediate impact on households and businesses.
The Minister assured that the government is now focused on translating the reforms into tangible results that will lead to more jobs, lower inflation rate, increase business confidence and improved living standards.
He said though Nigeria’s economic landscape is intricate, the committee would provide independent and evidence-based advice to strengthen policy decisions and curtail emerging economic risks.
The Minister enjoined the committee to assess the impact of the reforms on businesses and communities, and recommend timely adjustments where necessary, saying that the committee would serve only in an advisory capacity without exercising executive authority or replacing statutory institutions.
Oyedele argued that the committee’s mandate cuts across economic policy, public financial management, economic coordination and translating reforms into tangible national outcomes.
He reiterated his determination to implement the President’s target of achieving seven per cent annual Gross Domestic Product, GDP, growth and building a one trillion-dollar economy by 2030.
The Minister informed that attaining the target required innovative thinking, stronger institutions and closer collaboration between government and the private sector.
Oyedele hailed the members for accepting to serve on a pro-bono basis given their patriotic commitment to nation-building, promising that their recommendations would directly inform ministerial decisions and presidential policy guidance.
The minister pleaded with the members to remain objective, challenge assumptions and base recommendations on credible evidence rather than political considerations, while engaging businesses, manufacturers and citizens on policies that reflect economic realities.
He assured that the Federal Government remains focused on reforms that promote economic growth, improve revenue administration and create a more competitive environment for investment and job creation.
Permanent Secretary of Finance, Mr Raymond Omachi described the committee as a strategic platform for evidence-based economic policymaking, which he believed will support efforts to improve fiscal sustainability and strengthen public confidence.
He noted that the members would provide strategic advice on fiscal reforms, government efficiency, stakeholder engagement, economic coordination and advance Nigeria’s economic transformation agenda.
Omachi congratulated the members on their appointment and thanked them for offering their expertise in national service.
The Chairman of the Ministerial Advisory Committee, Abubakar Suleiman noted that the committee is conversant with the task ahead, promising to deliver within the expected timeframe.
He pledged that the committee would channel its plans to practical and actionable recommendations to support the country’s economic management.
The chairman disclosed that the committee would explore emerging ideas while the government concentrated on managing the nation’s economy, promising that the members would not waste government resources on unrealistic proposals.
Suleiman stated that the committee would seek to understand existing realities before providing policy recommendations, vowing to dedicate themselves to producing valuable advice capable of delivering measurable economic benefits.
The inauguration of the Ministerial Advisory committee marked another strategic step taken by the Federal Government to revamp the economy for improved livelihood opportunities for Nigerians while strengthening the Internally Generated Revenue, IGR.
