The Federal Government has inaugurated a Ministerial Advisory Committee aimed at providing strategic guidance to support ongoing economic reforms and promote inclusive growth across Nigeria.
The committee, made up of experts from the public and private sectors, academia, finance, industry and development institutions, was inaugurated by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, at the Federal Ministry of Finance headquarters in Abuja.
Oyedele said the committee was established to strengthen evidence-based policymaking, improve public financial management, enhance stakeholder engagement and ensure that economic reforms translate into meaningful improvements for Nigerians.
The minister highlighted major reforms introduced by the government, including fuel subsidy removal, foreign exchange reforms and tax restructuring, noting that the next phase should focus on effective implementation and ensuring that businesses, households and communities benefit from the changes.
He explained that the committee would operate as an independent advisory body, providing objective recommendations, identifying potential risks, reviewing policy options and suggesting practical measures to improve economic stability and competitiveness.
Oyedele urged members to carry out their responsibilities with integrity, independence and commitment to Nigeria’s long-term development, stressing the importance of building a stronger and more resilient economy.
The committee is expected to serve as a link between government, private sector players, academics and development partners by bringing diverse expertise and global best practices into policy discussions.
The advisory body is chaired by Abubakar Sulaiman, with Ayo Teriba as Vice Chairman and Idris Belo-Osagie as Secretary. Its members include economists, financial specialists, business executives, policy experts and representatives from key sectors of the economy, who will serve on a voluntary basis.
Speaking on behalf of the committee, Sulaiman pledged that members would provide independent and honest advice aimed at improving Nigeria’s economic outcomes.
The committee’s responsibilities will cover areas such as economic policy guidance, public financial management, economic coordination and monitoring the impact of reforms. It will also provide recommendations, fiscal risk assessments and policy reviews to support government decision-making.
The Federal Ministry of Finance said the establishment of the committee reflects the government’s commitment to strengthening economic governance, improving collaboration with stakeholders and sustaining reforms aimed at achieving long-term growth and fiscal stability.
