The Federal Government has inaugurated a Ministerial Advisory Committee (MAC) to provide strategic guidance on Nigeria’s fiscal and macroeconomic reform agenda.
The committee was inaugurated on Tuesday in Abuja by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, as part of efforts to strengthen evidence-based policymaking and accelerate the implementation of ongoing economic reforms.
According to a statement by the Ministry of Finance, the committee comprises professionals drawn from the public and private sectors, academia, finance, industry and development organisations.
Speaking during the inauguration, Oyedele said the committee would support government efforts to improve public financial management, deepen stakeholder engagement and ensure that economic reforms translate into tangible benefits for Nigerians.
He noted that the Federal Government had already implemented major reforms, including the removal of the petrol subsidy, foreign exchange reforms and a comprehensive overhaul of the tax system.
While acknowledging that the reforms have helped restore macroeconomic stability and strengthened the country’s economic foundations, the minister stressed that the next phase would focus on effective implementation and delivering measurable improvements for businesses, households and communities.
Oyedele explained that the committee was deliberately established as an independent, external and non-executive advisory body to provide objective recommendations without duplicating the responsibilities of existing government institutions.
He said its mandate includes reviewing policy assumptions, identifying emerging risks, evaluating policy options and recommending practical measures to enhance fiscal sustainability and economic competitiveness.
“The work before us is not merely about managing today’s challenges. It is about building the institutional foundations for a stronger, more resilient and globally competitive Nigerian economy,” Oyedele said.
He also described the committee as a bridge between government, the organised private sector, academia and development partners to ensure policymaking benefits from broad-based expertise and international best practices suited to Nigeria’s needs.
The committee is chaired by Abubakar Sulaiman, with Ayo Teriba serving as vice-chairman and Idris Belo-Osagie as secretary. Members will serve on a pro bono basis.
Responding on behalf of the committee, Sulaiman pledged that members would provide independent, evidence-based advice in the national interest.
He said the committee was established to challenge conventional thinking, provide fresh perspectives and support the government’s economic reform efforts with professionalism and integrity.
According to the ministry, the committee will advise across four key areas: economic policy, public financial management, economic coordination and translating reforms into measurable outcomes.
Its responsibilities include providing recommendations on macroeconomic strategy, fiscal policy, productivity, fiscal governance, government efficiency, accountability, stakeholder engagement and public communication. It will also prepare periodic fiscal risk assessments, policy recommendations, stakeholder impact assessments and early warning analyses to support government decision-making.
