The Federal Government has launched a fresh push to tighten economic coordination and end the long-running disconnect between fiscal and monetary planning, with the Economic Management Team approving a committee to harmonise the macroeconomic assumptions underpinning Nigeria’s economic plans and budgets.
The move was announced after a meeting of the Economic Management Team chaired earlier this week, where members also reviewed Nigeria’s latest economic performance and the government’s drive towards a $1 trillion economy.
The committee is expected to bring fiscal and monetary institutions onto the same page on critical economic projections, a development the government believes will strengthen policy coordination, improve budget credibility and tackle persistent underperformance in budget implementation.
The meeting also reviewed what the government described as major economic milestones, including 4.43 per cent real GDP growth in the second quarter of 2026, approximately 17 per cent growth in the first half of 2026 in US dollar terms, and external reserves exceeding $54 billion—described as an 18-year high.
Nigeria’s recent reclassification to Frontier Market status by FTSE Russell also featured among the developments reviewed by the team.
The economic managers turned their attention to agriculture, examining its role in driving national development and contributing to the administration’s ambitious $1 trillion economic target.
The team also reviewed preparations for Nigeria to host two major international trade and investment events—CANEX 2026 and IATF 2027—as part of efforts to attract capital, expand trade and deepen Nigeria’s integration into global markets.
The government said the latest decisions reflected its determination to strengthen economic management, promote sustainable growth and make Nigeria more competitive on the global stage.
The meeting brought together key ministers and senior economic officials, including Minister of Agriculture and Food Security, Senator Abubakar Kyari; Minister of Budget and Economic Planning, Senator Abubakar Bagudu; Minister of Humanitarian Affairs and Poverty Reduction, Dr Bernard Mohammed Doro; Minister of Industry, Trade and Investment, Dr Jumoke Oduwole; Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo; and Minister of Regional Development, Engr. Abubakar Momoh.
Also in attendance were the Permanent Secretaries of Finance and Transportation, Special Adviser to the President on Economic Affairs, Dr Tope Fasua, and representatives of the Central Bank of Nigeria.
The government said harmonising the assumptions used by its fiscal and monetary authorities would provide a stronger foundation for economic planning and help ensure that government budgets are implemented against realistic and coordinated projections.
The initiative comes as the administration seeks to consolidate recent economic gains, attract fresh investment and build the policy architecture required to drive Nigeria towards its trillion-dollar economy ambition.
