The Federal Government has inaugurated a 15-member Ministerial Advisory Committee to enhance economic policymaking, improve coordination across government institutions, and accelerate the implementation of ongoing fiscal and structural reforms.
The committee was inaugurated on Tuesday in Abuja by the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele.
The advisory body is chaired by the Managing Director of Sterling Bank, Mr. Abubakar Suleiman, and brings together leading economists, business executives, policy experts, and private sector representatives to provide strategic advice on Nigeria’s economic agenda.
What the data is saying
The establishment of the committee reflects the Federal Government’s effort to strengthen the quality of economic decision-making by drawing on expertise from both the public and private sectors.
Rather than functioning as an executive agency, the committee is expected to serve as an advisory platform that provides independent recommendations on fiscal policy, economic reforms, investment promotion, and broader macroeconomic management.
Its composition—featuring experienced economists, financial sector leaders, and business executives—suggests an intention to incorporate practical market perspectives into government policymaking. This could help improve the design and implementation of reforms by ensuring that policy decisions are informed by both economic analysis and private sector realities.
The move also comes as Nigeria continues implementing major economic reforms, including fiscal consolidation, tax reforms, exchange rate liberalisation, and efforts to improve the business environment. Better coordination among policymakers and stakeholders could help address implementation challenges that have historically slowed reform outcomes.
More insights
Nigeria’s current reform programme seeks to strengthen public finances, diversify government revenue, attract investment, and stimulate sustainable economic growth. However, many of these reforms require careful sequencing and effective coordination across multiple government institutions.
An advisory committee of this nature can provide technical expertise, evaluate the potential impact of proposed policies, identify implementation risks, and recommend adjustments where necessary.
The inclusion of private sector stakeholders is particularly significant because businesses are often directly affected by fiscal and regulatory policies. Their input can help ensure that reforms support economic competitiveness while addressing practical challenges faced by investors and businesses.
The committee may also contribute to building greater confidence among domestic and international investors by demonstrating the government’s willingness to engage experienced professionals in shaping economic policy.
What you should know
The newly inaugurated committee consists of 15 members drawn from academia, finance, business, and public policy, with Sterling Bank Managing Director Abubakar Suleiman serving as chairman.
Its primary mandate is to provide strategic advice aimed at improving economic policymaking, strengthening policy coordination, and supporting the implementation of Nigeria’s ongoing fiscal and structural reform agenda.
Although the committee does not possess executive or regulatory powers, its recommendations could influence key government decisions on taxation, public finance, investment policy, and broader economic reforms as Nigeria seeks to improve macroeconomic stability, strengthen public finances, and accelerate long-term economic growth.
