Finance Minister Launches Advisory Committee to Drive Nigeria's Economic Reform Agenda

Finance Minister Taiwo Oyedele has inaugurated a high-level Ministerial Advisory Committee to provide independent strategic counsel on Nigeria's fiscal and macroeconomic reform programme.

The committee draws expertise from the private sector, academia, banking, industry and development finance institutions.

It was inaugurated on Tuesday at the Federal Ministry of Finance headquarters in Abuja.

Oyedele described it as a deliberately independent, non-executive body designed to challenge assumptions, identify emerging risks and recommend practical solutions, without duplicating the work of existing government institutions.

He said Nigeria had already undertaken some of its most significant economic reforms in recent history, including the removal of fuel subsidies, exchange rate liberalisation and a comprehensive tax overhaul.

The next phase, he explained, must focus on ensuring those reforms translate into tangible improvements for businesses, households and communities.

"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.

"We must continue to pursue reforms with courage while ensuring that implementation delivers tangible improvements in the daily lives of our people," he said.

The committee is chaired by Abubakar Sulaiman, with Dr Ayo Teriba serving as Vice Chairman and Idris Belo-Osagie as Secretary.

All members will serve on a pro bono basis as its work spans four broad pillars: economic policy advisory, public financial management, economic coordination and translating reforms into measurable results.

Specific responsibilities include advising on macroeconomic strategy, fiscal governance, government efficiency, stakeholder engagement and public communication, as well as producing periodic fiscal risk assessments and early warning analyses.

Speaking on behalf of the committee, Chairman Sulaiman pledged candid, evidence-based counsel.

"The Honourable Minister has assembled this Committee not to affirm existing positions, but to challenge conventional thinking, offer fresh perspectives and provide honest, evidence-based counsel.

"We recognise that he values rigorous debate over praise, and we will discharge our responsibility with courage, professionalism and integrity," he said.