FG Sets Up New Ministerial Advisory Committee to Drive Fiscal Reforms

The Federal Government has inaugurated a new Ministerial Advisory Committee, MAC, made up of economists, public finance experts and private sector leaders to support 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, Mr Taiwo Oyedele.

—Key appointments—-

Members of the MAC include:
– Abubakar Suleiman, Managing Director, Sterling Bank
– Dr. Ayo Teriba, Chief Executive Officer, Economic Associates
– Prof. Uche Uwaleke, President, Capital Market Academics of Nigeria
– Chinyere Almona, Director-General, Lagos Chamber of Commerce and Industry
– Other professionals drawn from academia, finance, and industry

—Mandate of the committee—

Speaking at the inauguration, the Minister said the committee was created to strengthen collaboration between government and the private sector by bridging the gap between policy planning and execution.

He explained that members will provide independent, research-backed advice to help government make better economic decisions.

The MAC is expected to:
1. Review government policies and assess their impact
2. Identify potential economic risks and propose mitigation strategies
3. Recommend practical solutions to improve how reforms affect businesses and ordinary Nigerians

“We want to ensure that our economic policies produce visible results such as more jobs, lower inflation, improved investor confidence and better living conditions,” the Minister said.

—Focus on reform implementation—

The Minister recalled that government has already implemented major reforms including fuel subsidy removal, unification of the foreign exchange market, and changes to the tax system.

He added that attention is now shifting to ensuring “these reforms achieve the desired outcomes.”

The Minister clarified that the advisory committee will not take over the functions of existing government agencies or exercise executive powers.

Instead, it will serve as an independent body providing objective analysis and practical recommendations to support the Ministry of Finance.