The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said Nigeria must move beyond policy reforms and focus on delivering measurable results that improve the lives of citizens and businesses.
Oyedele stated this on Tuesday in Abuja while inaugurating the Ministerial Advisory Committee, headed by Abubakar Suleiman, which was established to provide guidance on how government reforms can translate into meaningful economic outcomes.
The committee is expected to engage with private sector operators and members of the public, providing feedback and recommendations to help the government assess the impact of its policies on businesses and communities.
Speaking at the inauguration, Oyedele said successful reforms must produce practical results, stressing that policies that look effective on paper but fail to improve economic realities do not amount to genuine reform.
“Translating reform into results is where the rubber meets the road. 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.
The minister charged members of the committee to provide independent, evidence-based and constructive advice, including identifying potential risks, assessing the effects of government policies and bringing international best practices into economic decision-making.
“We need you to think through the second- and third-order effects of our policies, identify vulnerabilities and risks before they become crises, bring international best practices into our decision-making, and relay how our reforms are actually impacting factories, shops and communities so we can adjust course dynamically where necessary,” Oyedele said.
He noted that the committee’s role would remain advisory, adding that its independent perspectives would help strengthen government decisions and maintain focus on achieving practical outcomes.
According to the minister, the committee’s mandate would be built around four key areas: economic policy advisory, public financial management, economic coordination and stakeholder engagement.
Oyedele said the government requires data-driven recommendations to achieve key development goals, including job creation, economic growth, increased productivity and improved revenue generation.
He also stressed the need for stronger fiscal governance, noting that the administration is committed to improving revenue generation, prioritising public spending, promoting responsible borrowing and ensuring transparent financial reporting.
On economic coordination, the minister said government reforms must work together across different sectors and institutions to achieve sustainable results.
