The Federal Government has inaugurated a high-powered Ministerial Advisory Committee (MAC) aimed at strengthening Nigeria’s fiscal and macroeconomic reforms, in a move designed to accelerate policy implementation and ensure the gains of ongoing economic measures translate into tangible benefits for citizens and businesses.
The committee was officially inaugurated in Abuja on Tuesday by the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, at the headquarters of the Federal Ministry of Finance.
Announcing the development through a statement shared on his official X account, Oyedele said the committee was established to provide strategic guidance on key economic policies, support evidence-based decision-making and enhance the effectiveness of government reforms.
According to the minister, the advisory body will play a critical role in strengthening public financial management, improving stakeholder engagement and offering independent expert insights to support Nigeria’s economic transformation agenda.
He noted that Nigeria has already embarked on some of the most far-reaching economic reforms in recent years, including the removal of fuel subsidies, exchange rate adjustments and an extensive overhaul of the country's tax system.
Oyedele said these measures had helped restore macroeconomic stability and laid a stronger foundation for economic growth, but stressed that the next stage of reforms must focus on implementation and ensuring that ordinary Nigerians experience the benefits.
“While these reforms have restored macroeconomic stability and strengthened the foundations of the economy, the next phase must focus on accelerating implementation and ensuring that the benefits are felt by businesses, households and communities across the country,” he said.
The minister explained that the MAC was intentionally designed as an independent, external and non-executive advisory body that would complement—not duplicate—the work of existing government institutions.
He said the committee would provide objective advice, challenge policy assumptions where necessary, identify emerging economic risks and recommend practical solutions to improve fiscal sustainability and boost Nigeria’s competitiveness.
“The committee’s role is to support decision-making by identifying potential risks, evaluating policy alternatives and offering innovative recommendations that strengthen economic resilience and fiscal discipline,” Oyedele stated.
He urged members of the committee to approach their assignment with integrity, professionalism and a strong sense of national duty, emphasizing that their contributions would help shape the future of the Nigerian economy.
“The work before us is not merely about managing today’s challenges; it is about building the institutional foundations for a stronger, more resilient and globally competitive Nigerian economy. We must continue to pursue reforms with courage while ensuring that implementation delivers tangible improvements in the daily lives of our people,” he said.
Beyond providing strategic advice, the committee is expected to serve as a vital link between government, the organised private sector, academic institutions and development partners. It will also prepare periodic fiscal risk assessments, stakeholder impact reports, policy recommendations and early-warning analyses to support timely and informed government decisions.
The Ministry of Finance said the establishment of the advisory committee reflects the Federal Government’s commitment to institutionalising evidence-based policymaking, deepening collaboration with key stakeholders and sustaining reforms aimed at promoting long-term economic growth, fiscal stability and shared prosperity for Nigerians.
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