Partnership

The Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, while inaugurating the committee in Abuja on Tuesday, said that the committee would bridge policy formulation and practical implementation.

He described the committee as a public-policy-private partnership designed to improve economic decision-making and deliver measurable benefits to Nigerians.

The minister said the government had implemented bold reforms, including fuel subsidy removal, exchange rate unification and comprehensive tax reforms.

Oyedele said the reforms were necessary to restore fiscal sustainability despite their immediate impact on households and businesses.

According to him, government is now focused on translating reforms into jobs, lower inflation, business confidence and improved living standards.

The minister said that the committee would provide independent, evidence-based advice to strengthen policy decisions and anticipate emerging economic risks.

Oyedele urged members to assess policy impacts on businesses and communities and recommend timely adjustments where necessary.

He said that the committee would serve only in an advisory capacity without exercising executive authority or replacing statutory institutions.

Oyedele said that the committee’s mandate covered economic policy, public financial management, economic coordination and translating reforms into tangible national outcomes.

The minister reaffirmed government’s target of achieving seven per cent annual GDP growth and building one trillion-dollar economy by 2030.

He said achieving the target required innovative thinking, stronger institutions and closer collaboration between government and the private sector.

Oyedele commended the members for accepting to serve on a pro-bono basis, describing their commitment as patriotic.

He assured members that their recommendations would directly inform ministerial decisions and presidential policy guidance.

The minister urged the members to remain objective, challenge assumptions and base recommendations on credible evidence rather than political considerations.

Oyedele also encouraged members to engage businesses, manufacturers and citizens to ensure policies reflected economic realities.

Earlier, Permanent Secretary Finance (PSF), Mr Raymond Omachi, described the committee as a strategic platform for evidence-based economic policymaking.

Omachi said the committee comprised economists, public finance experts, governance professionals, development practitioners and private sector representatives.

He said members would provide strategic advice on fiscal reforms, government efficiency, stakeholder engagement and economic coordination.

According to him, the committee will support efforts to improve fiscal sustainability, strengthen public confidence 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, pledged practical, actionable recommendations to support the country’s economic management.

He said that the committee understood its mandate and would avoid producing theoretical reports or recommendations already known to government.

According to him, members carefully noted the minister’s expectations and would focus on practical, implementable and timely solutions.

Suleiman said that the committee would create time to explore emerging ideas while government concentrated on managing the nation’s economy.

He assured the minister that members would not waste government’s time with unrealistic or impractical proposals.

The chairman said the committee would seek to understand existing realities before offering policy recommendations.

He said that the members would dedicate themselves to producing valuable advice capable of delivering measurable economic benefits.(NAN)