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The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, and the Governor of the Central Bank of Nigeria (CBN), Dr Olayemi Cardoso, have pledged closer coordination between fiscal and monetary authorities as part of efforts to stabilise the nation’s economy and restore investor confidence.
The commitment was made during a strategic meeting held on Tuesday at the CBN headquarters in Abuja. The session also had in attendance the Chairman of the Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji.
According to a statement issued by Mohammed Manga, Director of Information and Public Relations at the Ministry of Finance, the high-level meeting focused on sustaining macroeconomic stability, strengthening policy alignment, and unlocking private sector-led growth.
“The engagement centred on deepening coordination between fiscal and monetary authorities to sustain macroeconomic stability, boost investor confidence, and unlock private sector growth opportunities,” the statement read.
Mr Edun reaffirmed that aligning fiscal and monetary policies remains central to the reform programme of President Bola Ahmed Tinubu. He explained that the government’s goal is to bring down inflation, ensure effective revenue mobilisation, and guarantee that credit flows to critical sectors of the economy.
“The minister emphasised that close alignment between fiscal and monetary policy is critical to consolidating President Tinubu’s reform agenda, ensuring inflation is contained, revenues are mobilised efficiently, and credit flows effectively to productive sectors,” the statement added.
Also speaking, Dr Cardoso stressed that the CBN would continue to work hand in hand with fiscal authorities to restore stability in Nigeria’s financial system. He noted that stronger coordination is key to building investor trust at a time when the economy is facing both global and domestic headwinds.
The statement further explained that the meeting was designed to send “a strong signal of the government’s determination to work towards a more stable and prosperous economic future for all Nigerians.”
Nigeria has been battling multiple economic challenges, including inflationary pressures, exchange rate volatility, and dwindling purchasing power. The Tinubu administration has since embarked on a series of reforms such as fuel subsidy removal, exchange rate unification, and renewed efforts at revenue generation.
Experts believe that stronger collaboration between the Ministry of Finance and the CBN is vital to ensure that fiscal measures—such as tax reforms and expenditure management—work in harmony with monetary actions like interest rate management and currency stabilisation.
The government noted that while the country is navigating “complex global and domestic challenges,” it remains committed to reforms aimed at unlocking new opportunities for sustainable growth and prosperity.
