…urge members to challenge government thinking as committee pledges practical solutions over paperwork
By Gloria Ikibah
The Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, has inaugurated a Ministerial Advisory Committee to provide independent policy advice aimed at translating the Federal Government’s economic reforms into measurable improvements in the lives of Nigerians. 
Speaking at the inauguration on Tuesday in Abuja, Oyedele said the committee would serve as a bridge between policy formulation and implementation, insisting that the era of reform must now give way to tangible results.
The minister said: “Today is not simply about constituting another committee.
“It is about institutionalising a new way of thinking, a new way of solving problems, a new way of connecting ideas with implementation and strengthening the quality of economic decision making in service of the Nigerian people. This is what I call the public-policy-private partnership. The context is that we want to move from reform to results.”
Oyedele said the administration of President Bola Tinubu had embarked on some of the country’s most difficult economic reforms, including fuel subsidy removal, exchange rate unification and comprehensive tax reforms.
“These were not easy choices, but are essential because sustainable development cannot be built on fiscal illusion.
“We acknowledge that these decisions impose real, immediate costs on households, businesses and communities. So our focus now is on converting the reforms into tangible results.
“It is one thing to make or change policy. It is quite another to translate that change into outcomes ordinary Nigerians can feel. The true measure of reform is not the number of policies announced or macroeconomic indicators cited. It is the number of jobs created, inflation declining, naira stabilising, and businesses investing with confidence.
“It is about the number of lives improved. That is why this committee has been established”, stated.
The minister said government required honest and evidence-based advice capable of identifying policy risks before they become crises.
He emphasised that the advisory body will not duplicate the functions of government institutions.
“This committee exists therefore to provide independent, evidence-based, and constructive external counsel. We need you to think through the second and third order effects of our policies.
“Surface vulnerabilities and risks before they become crises. Bring international best practice into our decision-making. Relay how our reforms are actually landing in factories, shops and communities so we can adjust course dynamically where necessary”
“Let me be explicit about what this committee is not. It does not exercise executive authority, nor does it duplicate or replace the existing work of any statutory institution. Your role is to advise.
“Your independent perspective will strengthen our decisions and ensure our efforts remain relentlessly focused on outcomes”, he added.
Oyedele said the committee’s work will revolve around four key priorities: economic policy advisory, public financial management, economic coordination and ensuring reforms produce practical benefits.
“We need data-driven counsel on how to achieve our core developmental objectives of job creation, robust growth, enhanced productivity and revenue optimisation.
“The government’s aspirations remain bold. Achieving seven per cent annual real GDP growth and building a one-trillion-dollar economy by 2030 requires thinking differently, questioning assumptions, challenging long-held theories and developing strategies that stretch us while remaining deeply grounded in economic reality”, he noted.
He therefore urged members of the committee to offer frank advice, free from political considerations, and challenged them to remain connected to on the ground.
Oyedele assured members that their recommendations will not be ignored.
“Be rigorous and bold. Ground your advice in hard evidence, not intuition, populism or political convenience. Data should illuminate our choices, not merely justify predetermined outcomes.
“Do not be constrained by conventional thinking. 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 might be preparing over, and tell us the truth we may not want to hear.
“Healthy, fact-based disagreement is not a weakness, it is an advantage.
“Do not let this committee become an ivory tower exercise. Speak with manufacturers, exporters and everyday citizens. Understand where policy is creating friction and how it can open doors.
“A young entrepreneur deterred by red tape, or a factory manager struggling for a permit, they are not abstractions. They are the living metrics of whether our policies succeed or fail.”
“You have agreed to serve on a pro bono basis, sacrificing your time and energy during a critical period. For this demonstration of deep patriotism, we are immensely grateful.
“In return, I promise you that your counsel will be heard. Your advice will not languish in forgotten files. It will actively inform ministerial decisions and the guidance I provide to the President”, he said.
Earlier in his welcome address, Permanent Secretary Finance in the Ministry of Finance, Raymond Omachi, described the inauguration as an important step towards strengthening fiscal governance and improving economic policy through external expertise.
According to him, the committee comprises economists, public finance specialists, development practitioners, governance experts, business leaders and representatives of the organised private sector.
“Today’s inauguration reflects the Honourable Minister’s conviction that the complex economic challenges before our nation require not only sound public institutions, but also the collective wisdom, experience and perspective of accomplished professionals from diverse fields.
“The committee is designed to serve as an independent advisory body, providing strategic counselling on economic policy, fiscal reforms, public financial management, government efficiency, stakeholder engagement and economic coordination.
“Equally important is the role of helping us to translate ongoing reforms into measurable improvement in the lives of Nigerians,” he said.
Omachi said members were expected to provide objective, innovative and nationally focused recommendations capable of strengthening fiscal sustainability and public confidence in government reforms.
Responding chairman of the committee, Abubakar Suleiman, assured the minister that members will focus on producing practical and implementable solutions rather than academic reports.
“I promise you that’s not what we’ll give you.
“What I think you’ve asked of us is that because the job of keeping this country going is a full-time job, and those who have been mandated to do it do not have enough time to think about the new things or the different things or the things that are not yet on the table.
“Our job is to free you to keep running this ministry and keep coordinating this economy while we take time off to think about things that, if you were not on this job, you would have been able to do yourself”, he said.
Suleiman said the committee understands that its role was not to repeat ideas government officials already knew.
“It will be my commitment on behalf of my members that we’ll do everything possible not to come to you with advice on the things you already know, or the things that you’ve heard all the brilliant minds that work with you advise us to tell you.
“We understand that that is not our job”, he noted.
He pledged that the committee will remain connected to the realities facing ordinary Nigerians and relay genuine feedback to government.
He assured the minister that the committee’s recommendations will be practical, implementable and focused on delivering quick wins.
“We will serve as a bridge so that what is happening on the street, what is happening in the farms, what is happening in the factory, beyond the noise, beyond the social media noise, beyond the conversations that are held spontaneously in marketplaces and beer parlours, we will try to listen and hear what people are really saying, where Nigerians are really feeling the pain, which of the policies is really working, and then we’ll bring that back to you in an environment that you can work with.
“Our hope is that the few things that we put our effort to will be valuable things. There will be things that are executable, things that are practical, but also things that can be done very quickly”, he said.
The Committee members are:
1. Abubakar Suleiman – Chairman
2. Dr. Ayo Teriba – Member
3. Prof. Uche Uwaleke – Member
4. Chinyere Almond – Member
5. Vincent Nwani – Member
6. Segun Oloketuyi – Member
7. Jide Adeola – Member
8. Dimeji Salaudeen – Member
9. Damilola Akinbami – Member
10. Idris Bob-Osagie – Member
11. Dr. Jani Ibrahim – Member
12. Segun Ajayi-Kadri – Member
13. Prof. Joseph Nanna – Member
14. Dr. Suleiman Ndanusa – Member
15. Dr. Baba Yusuf Musa – Member
The committee, made up of economists, business leaders, governance experts and development professionals, is expected to provide strategic advice to the Ministry of Finance on fiscal reforms, public financial management, economic coordination and stakeholder engagement as the government seeks to consolidate its economic reform agenda.
