The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and Governor of the Central Bank of Nigeria, Dr. Olayemi Cardoso, held a crucial meeting at the CBN Headquarters in Abuja.
This came in response to growing calls for better policy coordination, Nigeria’s fiscal and monetary authorities have met to align their strategies for addressing the country’s economic challenges.
The primary objective of the meeting was to create synergy between fiscal and monetary policy frameworks to reinforce macroeconomic stability, build investor confidence, and lay the foundation for sustainable economic growth.
This meeting is part of ongoing efforts to ensure that the fiscal and monetary arms of government work in harmony to stabilize Nigeria’s economy. Sources close to the meeting revealed that both Edun and Cardoso are committed to fostering stronger collaboration between their institutions. Their goal is to ensure that the policy decisions of one arm do not undermine or counteract those of the other.
According to sources, “they are striving to create a unified policy direction capable of addressing inflation, exchange rate volatility, fiscal deficits, and other pressing economic issues.”
The meeting also emphasized the administration’s commitment to fully implementing President Bola Tinubu’s economic reform agenda, which focuses on efficient economic management, improved public finance, and reforms designed to stimulate private sector-led growth.
Both the Finance Ministry and the CBN are pivotal in these reforms, particularly in terms of maintaining price stability, prudent fiscal management, and creating a favorable environment for both domestic and foreign investments.
Stakeholders view Friday’s meeting as a significant step in the direction of coherent economic governance, responding to widespread calls from experts, investors, and multilateral partners for better coordination between Nigeria’s monetary and fiscal authorities. Such coordination is seen as essential to managing the complex dynamics of both the national and global economic landscape.
In recent months, Nigeria has been grappling with a range of macroeconomic challenges, including currency depreciation, inflation, and sluggish economic growth. Analysts believe that addressing these issues requires a coordinated approach, where fiscal and monetary policies complement one another.
Both Edun and Cardoso have previously emphasized that Nigeria’s economic transformation depends on consistent and well-coordinated policies. The meeting on Friday is viewed as a practical demonstration of their commitment to work closely together, beyond institutional barriers, to achieve common economic goals.
Observers expect that the dialogue between these key economic figures will continue in the coming months, with follow-up meetings to ensure ongoing alignment of policy. The ultimate aim is for these coordinated efforts to yield tangible results for the Nigerian economy.
With the government pressing forward with its reform agenda, Friday’s high-level meeting at the CBN headquarters signals a renewed focus on collaboration, with both fiscal and monetary authorities aligned in their pursuit of economic stability, investor confidence, and long-term growth.