The Federal Government on Tuesday inaugurated a Ministerial Advisory Committee to provide independent, evidence-based advice aimed at ensuring President Bola Tinubu’s economic reforms translate into tangible benefits for Nigerians.
Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, who inaugurated the committee in Abuja, said the initiative marks a new era of collaboration between government, the private sector, academia and other professionals to strengthen economic policymaking and accelerate national development.
He said the Tinubu administration had implemented some of Nigeria’s most far-reaching economic reforms over the past three years, including the removal of fuel subsidy, foreign exchange market unification and comprehensive tax reforms.
According to Oyedele, the focus is now on ensuring the reforms produce visible improvements in the lives of ordinary Nigerians.
“We want to move from reform to results. It is one thing to make sound policy decisions; it is quite another to translate those decisions into outcomes that ordinary Nigerians can feel,” he said.
He stressed that the success of the reforms should not be measured only by macroeconomic indicators but by the number of jobs created, lower inflation, exchange rate stability, increased investments and improved living standards.
“The true measure of reform is the number of jobs created, inflation declining, the naira stabilising, businesses investing with confidence and the number of lives improved. That is why this committee has been established,” he added.
Oyedele explained that the committee would provide independent advice, identify policy risks, analyse the broader impact of government decisions and recommend global best practices capable of improving policy implementation.
He clarified that the committee would not exercise executive powers or replace existing government institutions but would serve strictly as an advisory body whose recommendations would guide ministerial decisions and policy advice to President Tinubu.
The minister said the committee would focus on four key areas, including economic policy advisory, strengthening public financial management, improving coordination among government institutions and ensuring that reforms deliver practical benefits to businesses and citizens.
“A fiscal reform that looks flawless on paper but fails to improve conditions for Nigerian businesses is not reform; it is disguised bureaucracy,” he said.
Oyedele challenged members of the committee to remain independent, objective and courageous by offering honest advice based on facts rather than political considerations.
“We do not need this committee to validate what we have already decided. We need you to challenge our assumptions, point out the trade-offs we may be overlooking and tell us the truth we may not want to hear. Fact-based disagreement is not a weakness; it is an advantage,” he stated.
He also urged members to engage manufacturers, exporters, entrepreneurs and ordinary Nigerians to ensure government policies address real economic challenges.
According to him, sustainable economic transformation cannot be achieved by government alone, calling on the organised private sector to drive investment, innovation, job creation and enterprise development.
“The government’s role is to clear the path by creating predictable policies, macroeconomic stability and a functioning rule of law. The rest depends on your investment, your hiring and your willingness to take risks,” Oyedele said.
Earlier, the Permanent Secretary of the Federal Ministry of Finance, Raymond Omenka Omachi, described the inauguration as a major step toward strengthening fiscal governance and improving economic policymaking through expert external input.
He said the committee comprises economists, public finance experts, development practitioners, governance professionals and business leaders who will provide strategic guidance on fiscal reforms, public financial management, economic coordination and government efficiency.
Omachi expressed confidence that the committee would help transform ongoing reforms into measurable improvements in the lives of Nigerians while boosting public confidence in the government’s economic agenda.
The inauguration ended with members taking the oath of office, pledging to uphold integrity, professionalism, confidentiality and provide objective advice in the national interest.
