The Federal Government has inaugurated a high-level Ministerial Advisory Committee (MAC) to provide strategic guidance on Nigeria’s economic reforms and support efforts to achieve sustainable and inclusive growth.
The committee was inaugurated on Tuesday in Abuja by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele. It comprises distinguished professionals from the public and private sectors, academia, finance, industry and development institutions.
Speaking during the inauguration at the Federal Ministry of Finance headquarters, Oyedele said the committee would strengthen evidence-based policymaking, improve public financial management, deepen stakeholder engagement and help ensure that ongoing economic reforms translate into tangible benefits for Nigerians.
According to the minister, Nigeria has implemented some of its most significant economic reforms in recent years, including the removal of fuel subsidy, exchange rate reforms and a comprehensive tax overhaul. While these measures have helped restore macroeconomic stability, he said the next phase would focus on effective implementation and delivering measurable improvements for businesses, households and communities.
He explained that the committee would operate as an independent, non-executive advisory body, providing objective recommendations, identifying emerging risks, evaluating policy options and proposing practical solutions to enhance fiscal sustainability and economic competitiveness.
“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,” the minister said, urging members to serve with integrity, patriotism and intellectual independence.
Oyedele also said the committee would strengthen collaboration between government, the private sector, academia and development partners by ensuring that policymaking benefits from broad expertise and global best practices tailored to Nigeria’s needs.
The Ministerial Advisory Committee is chaired by Abubakar Sulaiman, with Dr. Ayo Teriba serving as Vice Chairman and Idris Belo-Osagie as Secretary. Members, drawn from diverse sectors including banking, manufacturing, public finance, energy and academia, will serve on a voluntary basis.
Speaking on behalf of the committee, Chairman Abubakar Sulaiman pledged to provide independent, evidence-based advice in support of Nigeria’s economic transformation.
He said the committee would challenge conventional thinking, offer fresh perspectives and provide honest recommendations aimed at strengthening economic policy and improving outcomes for Nigerians.
Under its terms of reference, the committee will advise the government on economic policy, fiscal management, economic coordination and strategies to ensure reforms deliver measurable results. It will also prepare fiscal risk assessments, stakeholder impact analyses, policy recommendations and early warning reports to support informed government decision-making.
The Federal Ministry of Finance said the establishment of the committee underscores the government’s commitment to institutionalising evidence-based policymaking, strengthening partnerships with stakeholders and sustaining reforms needed to promote long-term economic growth, fiscal stability and shared prosperity.
