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Nigeria’s Economic Team Approves Monthly Reviews and Unified Budget Forecasts

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Courtroom-sketch editorial illustration of Nigerian economic adviser Taiwo Oyedele seated at an office desk and gesturing while speaking, with a printer and window blinds behind him, rendered in warm ochre and slate-blue pastel strokes.

Nigeria’s Economic Management Team approved an inter-agency committee to harmonize assumptions for crude-oil prices and output, exchange rates, inflation and non-oil revenue after officials linked inconsistent forecasts to budget gaps. The team will meet monthly, review at least two strategic sectors at each sitting and coordinate fiscal and monetary policy. It also expanded its remit to monitor the Renewed Hope Agenda and assess federal financing needs. The Finance Ministry will coordinate and hold national economic data while agencies remain responsible for their datasets. Finance Minister Taiwo Oyedele said the changes would tie planning figures more closely to actual results.

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