Oyedele inaugurates Public-Policy-Private-
Partnership Committee to Deepen Economic Reforms
The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, has inaugurated a Ministerial Advisory Committee (MAC), an independent body of distinguished economists, business leaders, development experts and private sector representatives established to provide strategic advice that will strengthen economic policy formulation and accelerate the delivery of ongoing reforms.
Inaugurating the Committee on Tuesday, July 14, 2026 at the Ministry’s Headquarters in Abuja, the Minister said the initiative marks a deliberate shift towards a more inclusive, evidence-based and results-driven economic governance.
Oyedele noted that the Committee is not another layer of bureaucracy but a platform that brings together government and the private sector in what he described as a Public-Policy-Private Partnership, designed to ensure that policies are informed by practical experience, rigorous analysis and continuous engagement with stakeholders.
He pointed out that while the Federal Government has implemented far-reaching reforms over the past three years, including the removal of fuel subsidies, exchange rate unification and comprehensive tax reforms, the next phase must focus on ensuring that these policies translate into tangible improvements in the lives of Nigerians.
“The true measure of reform is not the number of policies introduced or the strength of macroeconomic indicators. It is whether more jobs are created, businesses expand with confidence, inflation declines, the naira remains stable and the quality of life improves for ordinary Nigerians,” the Minister stated.
Oyedele explained that the Committee would provide independent, objective and evidence-based advice on critical economic and fiscal issues while helping government anticipate risks, evaluate policy outcomes and strengthen economic coordination across institutions.
He added that the Committee’s work will be driven by four broad areas: economic policy advisory, public financial management, economic coordination, and ensuring that fiscal reforms deliver measurable benefits for businesses, households and the wider economy.
According to him, members are expected to challenge assumptions, examine the wider implications of policy decisions and bring global best practices to bear on Nigeria’s economic management.
The Minister further emphasised that the Committee would serve strictly in an advisory capacity, assuring members that their recommendations would receive serious consideration and contribute directly to ministerial decision-making.
Charging members to approach their assignment with courage and objectivity, Mr. Oyedele urged them to remain connected to the realities facing businesses and citizens across the country.
He stressed the importance of translating complex economic issues into practical policy options that can improve productivity, support enterprise and enhance the ease of doing business.
Oyedele also reaffirmed that government alone cannot deliver sustainable economic transformation, noting that meaningful progress requires strong collaboration with the organised private sector, development partners and other stakeholders.
Earlier in his welcome address, the Permanent Secretary, Federal Ministry of Finance, Mr. Raymond Omachi, described the inauguration as an important milestone in the efforts to strengthen fiscal governance through informed external engagement.
He stated that the Committee brings together accomplished professionals with extensive expertise in economics, public finance, governance and business whose collective experience will enrich policy development and implementation.
According to him, the Committee will provide strategic advice on macroeconomic policy, fiscal reforms, public financial management, stakeholder engagement and economic coordination while supporting the effective implementation of8 reforms across government.
In a statement, Efe Ovuakporie, the Ministry’s Head of Information and Public Relations, disclosed that Mr. Omachi expressed confidence that the Committee’s work would strengthen fiscal sustainability, improve government efficiency and reinforce public confidence in Nigeria’s economic reform programme.
The Committe’s Terms of Reference are:
1. Provide strategic policy advice on fiscal and macroeconomic issues
2. Assess the impact of major reforms
3. Identify emerging fiscal risks and opportunities
4. Promote stronger public financial management
5. Enhance coordination across government
6. Support the effective implementation of economic reforms
7. Recommend measures to improve government efficiency, strengthen transparency and accountability, promote investment, improve the ease of doing business, and ensure that ongoing reforms deliver measurable benefits to Nigerians.
The Minister congratulated members on their appointment and expressed appreciation for their willingness to serve the nation on a pro bono basis, describing their acceptance as a demonstration of patriotism and commitment to Nigeria’s economic future.
