Federal Government Inaugurates Ministerial Advisory Committee to Drive Economic Reforms

The Federal Government has inaugurated a Ministerial Advisory Committee (MAC) to provide strategic advice on fiscal policy, macroeconomic reforms and public financial management as part of efforts to deepen ongoing economic reforms and accelerate inclusive growth.

The committee was inaugurated on Tuesday in Abuja by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele. According to the ministry, the committee comprises experts drawn from the public and private sectors, academia, finance, industry and development.

Speaking at the inauguration, Oyedele said the committee would strengthen evidence-based policymaking, improve public financial management and deepen stakeholder engagement to ensure that ongoing reforms translate into measurable improvements in the lives of Nigerians.

He noted that reforms such as the removal of fuel subsidy, exchange rate reforms and the ongoing tax overhaul have helped restore macroeconomic stability, adding that the next phase would focus on effective implementation and ensuring the benefits reach businesses, households and communities.

The minister said the committee would operate as an independent, non-executive advisory body, providing objective recommendations, assessing emerging risks, evaluating policy options and supporting fiscal sustainability and economic competitiveness without duplicating the work of existing government institutions.

The committee is chaired by Abubakar Sulaiman, with economist Dr. Ayo Teriba serving as vice chairman and Idris Belo-Osagie as secretary. Members, drawn from various sectors of the economy, will serve on a voluntary basis.

Responding on behalf of the committee, Sulaiman pledged to provide objective, evidence-based advice in the national interest, saying members would offer fresh perspectives and practical recommendations to support the government's reform agenda.

According to the Ministry of Finance, the committee will advise on economic policy, fiscal governance, public financial management, government efficiency, stakeholder engagement and public communication, while also producing periodic fiscal risk assessments and policy recommendations to support government decision-making.