The Bola Ahmed Tinubu-led Federal Government has inaugurated a Ministerial Advisory Committee comprising economists, public finance experts and private sector leaders to strengthen economic policymaking and accelerate the implementation of ongoing fiscal reforms.
Naijaonpoint reports that members of the committee include the Managing Director of Sterling Bank, Abubakar Suleiman; Chief Executive Officer of Economic Associates, Dr Ayo Teriba; President of the Capital Market Academics of Nigeria, Prof Uche Uwaleke; and Director-General of the Lagos Chamber of Commerce and Industry, Chinyere Almona.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, inaugurated the committee in Abuja on Tuesday.
Oyedele described the advisory body as a strategic public-private partnership designed to bridge the gap between policy formulation and implementation.
He said the committee would offer independent and evidence-based advice to support government decisions and ensure that ongoing economic reforms produced measurable improvements in the lives of Nigerians.
The minister recalled that the administration had implemented major reforms, including the removal of petrol subsidy, unification of the foreign exchange market and comprehensive changes to the tax system.
According to him, the policies were introduced to restore fiscal stability and strengthen the economy.
Oyedele said the government’s priority had shifted towards ensuring that the reforms translated into lower inflation, increased job creation, improved business confidence and higher 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,” he said.
He explained that the committee would not exercise executive powers or replace existing statutory institutions.
Instead, it would support the finance ministry by providing objective analysis and practical policy options.
Oyedele charged the committee members to critically examine the impact of government policies on households and businesses and recommend timely adjustments where necessary.
He said their responsibilities would cover economic policy, public financial management, economic coordination and strategies for ensuring that reforms produced tangible national benefits.
The minister also urged them to challenge conventional assumptions and base their recommendations on credible data rather than political considerations.
He encouraged the committee to engage manufacturers, business owners and ordinary Nigerians to ensure that government policies reflected economic realities across the country.
Oyedele assured the members that their recommendations would directly influence ministerial decisions and the policy direction of President Bola Tinubu’s administration.
Reaffirming the government’s ambition to achieve annual economic growth of seven per cent and build a $1tn economy by 2030, the minister said the targets would require innovation, stronger institutions and closer cooperation between the government and the private sector.
He commended the members for agreeing to serve without remuneration, describing their decision as an act of patriotism.
Earlier, the Permanent Secretary of the Federal Ministry of Finance, Raymond Omachi, described the committee as a platform for advancing evidence-based economic policymaking.
Omachi said the advisory body comprised experts in economics, public finance, governance, development and private sector management.
According to him, the panel would offer strategic advice on fiscal reforms, government efficiency, stakeholder engagement and economic coordination.
He said its work would support efforts to strengthen fiscal sustainability, improve public confidence and advance Nigeria’s economic transformation agenda.
Speaking on behalf of the committee, Suleiman, who serves as its chairman, said members would focus on producing practical and implementable proposals rather than theoretical reports.
“We will not waste government’s time with impractical recommendations,” Suleiman said.
“Our focus will be on understanding the realities on the ground and providing actionable advice that can deliver measurable economic benefits.”
