Both fiscal and monetary authorities have met to harmonise their policies following growing calls for better policy coordination.
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, held a strategic meeting at the CBN Headquarters in Abuja on Friday towards forging a unified front to tackle Nigeria’s economic challenges.
At the core of the engagement was the need to align fiscal and monetary policy frameworks to reinforce macroeconomic stability, strengthen investor confidence, and lay the foundation for sustained economic growth.
The meeting is part of ongoing efforts by both the fiscal and monetary arms of government to close ranks and ensure that their respective policy tools work in harmony to stabilise the Nigerian economy.
Sources familiar with the meeting confirmed to The Nation that both Edun and Cardoso are keen to deepen collaboration between their respective institutions, with the goal of ensuring that policy decisions taken by one arm do not undermine or counteract those of the other.
According to the source, “they are striving to create a unified policy direction capable of addressing inflation, exchange rate volatility, fiscal deficits, and other pressing economic issues.”
The gathering was also a signal of the administration’s commitment to fully implementing the economic reform agenda of President Bola Tinubu, which places emphasis on efficient economic management, improved public finance, and reforms aimed at stimulating private sector-led growth.
Both the Finance Ministry and the CBN are seen as key pillars in delivering on these reforms, especially in terms of ensuring price stability, prudent fiscal management, and a conducive environment for domestic and foreign investments.