FG Inaugurates Ministerial Advisory Committee to Deepen Economic Reforms

The Federal Government has inaugurated a Ministerial Advisory Committee (MAC) comprising leading economists, public finance experts and private sector leaders to strengthen economic policymaking and accelerate the implementation of ongoing fiscal reforms.

The committee was inaugurated in Abuja by the Minister of Finance and Coordinating Minister of the Economy, Prof. Taiwo Oyedele, who said the initiative is aimed at bridging the gap between policy formulation and implementation through independent, evidence-based advice.

Members of the committee include 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; Director-General of the Lagos Chamber of Commerce and Industry (LCCI), Dr. Chinyere Almona; alongside other professionals drawn from academia, finance and the private sector.

Speaking at the inauguration, Oyedele said the committee would provide objective analysis, identify potential economic risks and recommend practical solutions to improve the impact of government reforms on businesses and citizens.

He noted that while the administration has implemented major economic reforms, including the removal of fuel subsidy, unification of the foreign exchange market and tax reforms, the next phase is to ensure these policies translate into tangible outcomes such as job creation, lower inflation, improved investor confidence and better living standards.

The minister stressed that the advisory committee would not exercise executive powers or replace existing government institutions but would serve as an independent body supporting the Ministry of Finance with research-driven recommendations to enhance policy effectiveness.