FG unveils advisory committee to review economic reforms

The Federal Government on Tuesday inaugurated a Ministerial Advisory Committee to provide independent, evidence-based reviews of its economic reforms, as it seeks to convert recent policy changes into tangible benefits for Nigerians.

Speaking at the inauguration of the committee at the Federal Ministry of Finance in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, said the committee would offer external, data-driven advice to strengthen economic policymaking and ensure that reforms translate into improved living standards.

According to the minister, the committee marks a shift towards what he described as a “public-policy-private partnership” aimed at improving the quality of government decisions.

“Today is not simply about constituting another committee. It is about institutionalising a new way of thinking, a new way of solving problems, a new way of connecting ideas with implementation and strengthening the quality of economic decision-making in service of the Nigerian people,” Oyedele said.

He said the administration of President Bola Tinubu had undertaken some of the country’s most difficult economic reforms over the past three years, including the removal of petrol subsidies, exchange rate unification and comprehensive tax reforms, noting that the next phase was ensuring that Nigerians experienced their benefits.

“We want to move from reform to results,” he said.

The minister acknowledged that the reforms had imposed immediate costs on households, businesses and communities, but maintained that they were necessary because “sustainable development cannot be built on fiscal illusion.”