The Federal Government has inaugurated a Ministerial Advisory Committee made up of economists, public finance experts and private sector leaders to strengthen economic policymaking and support the implementation of ongoing fiscal reforms.
Members of the committee include the Managing Director of Sterling Bank, Abubakar Suleiman; the Chief Executive Officer of Economic Associates, Dr Ayo Teriba; the President of the Capital Market Academics of Nigeria, Prof. Uche Uwaleke; and the Director-General of the Lagos Chamber of Commerce and Industry, Chinyere Almona, among others.
Speaking during the inauguration in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, described the committee as a strategic partnership between the public and private sectors aimed at closing the gap between policy formulation and implementation.
He said the committee would provide independent, evidence-based advice to support government decisions and help ensure that ongoing economic reforms improve the lives of Nigerians.
According to Oyedele, the Tinubu administration has introduced major reforms, including the removal of fuel subsidy, the unification of the foreign exchange market and the implementation of tax reforms to improve fiscal sustainability.
He said the government’s priority is to ensure these reforms lead to job creation, lower inflation, improved business confidence and better living standards.
“The committee will serve as a bridge between policy design and implementation by providing practical, evidence-based recommendations that strengthen government decisions and anticipate emerging economic risks,” Oyedele said.
The minister explained that the committee would not exercise executive powers or replace any existing government institution but would provide objective analysis and practical policy recommendations.
He urged members to assess how government policies affect businesses and households and recommend adjustments where necessary.
According to him, the committee will focus on economic policy, public financial management, economic coordination and strategies to ensure reforms produce meaningful national results.
Oyedele also restated the Federal Government’s goal of achieving seven per cent annual economic growth and building a $1 trillion economy by 2030.
He praised the members for agreeing to serve without pay, describing their decision as an act of patriotism. He assured them that their recommendations would help shape ministerial decisions and government policies.
The minister also encouraged the committee to remain objective, challenge existing assumptions and base its recommendations on credible evidence rather than political considerations.
He urged members to engage with businesses, manufacturers and citizens so that government policies reflect the realities across the country.
Earlier, the Permanent Secretary of the Federal Ministry of Finance, Raymond Omachi, described the committee as a strategic platform for evidence-based economic policymaking.
Omachi said the advisory body consists of economists, public finance specialists, governance professionals, development experts and private sector representatives who will provide advice on fiscal reforms, government efficiency, stakeholder engagement and economic coordination.
He added that the committee would support efforts to strengthen fiscal sustainability, improve public confidence and advance Nigeria’s economic transformation agenda.
Omachi congratulated the members on their appointment and thanked them for offering their expertise in service to the country.
Speaking on behalf of the committee, its chairman, Abubakar Suleiman, assured that members would focus on practical and workable recommendations.
“We will not waste government’s time with impractical recommendations. Our focus will be on understanding the realities on the ground and providing actionable advice that can deliver measurable economic benefits,” he said.
