The Federal Government has set up a new Ministerial Advisory Committee (MAC) made up of economists, public finance experts and private sector leaders to support economic policymaking and help speed up the implementation of ongoing fiscal reforms across the country.
The committee was inaugurated in Abuja by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele.
Among those appointed are Sterling Bank Managing Director Abubakar Suleiman, Economic Associates Chief Executive Officer Dr. Ayo Teriba, Capital Market Academics of Nigeria President, Prof. Uche Uwaleke, and Lagos Chamber of Commerce and Industry Director-General Chinyere Almona, alongside other professionals drawn from different sectors.
Oyedele said the committee was created to strengthen cooperation between the government and the private sector by helping to close the gap between policy planning and execution.
He explained that members would provide independent advice backed by research and practical experience to help the government make better economic decisions.
According to the minister, the committee would review government policies, identify possible economic risks and suggest workable solutions that can improve the impact of reforms on businesses and ordinary Nigerians.
He said the administration “wants to ensure that its economic policies produce visible results such as more jobs, lower inflation, improved investor confidence and better living conditions.
He recalled that the government had already carried out major reforms, including the removal of fuel subsidy, the unification of the foreign exchange market and changes to the country’s tax system.Executive Branch
He said attention is now focused on ensuring that “these reforms achieve the desired outcomes.»
Oyedele explained that the advisory committee would not take over the responsibilities of existing government agencies or exercise executive powers.
Instead, it would serve as an independent body that provides objective analysis and practical recommendations to support the Ministry of Finance.
