The Federal Government has taken another significant step in its economic reform agenda with the inauguration of a Ministerial Advisory Committee (MAC) aimed at strengthening fiscal and macroeconomic policies across the country. The committee, inaugurated in Abuja by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, is expected to provide expert guidance that will help transform government reforms into tangible benefits for businesses, households and communities nationwide.
Speaking during the inauguration ceremony, Oyedele said the committee was established to deepen evidence-based policymaking, improve public financial management and enhance stakeholder engagement. He noted that Nigeria has recently implemented some of its most ambitious economic reforms, including the removal of fuel subsidies, exchange rate adjustments and major tax reforms. According to him, while these measures have helped stabilize the economy, the focus must now shift toward effective implementation and ensuring ordinary Nigerians experience meaningful improvements in their daily lives.
The minister emphasized that the advisory body will operate independently and will not duplicate the functions of existing government institutions. Instead, it will offer objective advice, identify emerging economic risks, evaluate policy options and recommend practical solutions that can strengthen fiscal sustainability and boost Nigeria’s competitiveness. He stressed that building a stronger and more resilient economy requires both bold reforms and effective execution capable of delivering real results for citizens.
The newly inaugurated committee is chaired by Abubakar Sulaiman, with Dr. Ayo Teriba serving as vice chairman and Idris Belo-Osagie as secretary. Its membership includes leading economists, financial experts, business executives, academics and public policy professionals who will serve on a voluntary basis. The ministry praised the members for dedicating their expertise to national development and highlighted the committee’s role as a bridge between government, the private sector, academia and development partners.
Responding on behalf of the committee, Chairman Abubakar Sulaiman pledged to provide independent, evidence-based recommendations that would support the country’s economic transformation. He said the committee was assembled not to endorse existing positions but to challenge ideas, encourage constructive debate and offer honest counsel in the national interest. With responsibilities ranging from fiscal risk assessments to policy evaluation and stakeholder engagement, the committee is expected to play a key role in sustaining economic reforms, promoting fiscal stability and advancing Nigeria’s long-term growth and prosperity.
soource: The guardian
