Economy: Edun Urges Fiscal, Monetary Policies’ Harmonisation

Nigeria’s minister of finance and coordinating minister of the economy, Wale Edun, has stressed the need to align fiscal and monetary policies to curb inflation, attract investment, and foster sustainable economic development.

The minister underlined Nigeria’s current fiscal challenges while proposing innovative reforms to stimulate economic growth under the leadership of President Bola Ahmed Tinubu.

Nigeria’s economy is currently grappling with significant challenges, marked by rising inflation, high unemployment, and widespread hardship. Inflation has surged to over 32.15 per cent, pushing the cost of basic goods and services beyond the reach of many Nigerians, exacerbating poverty levels.

Edun made the remarks at a two-day groundbreaking Renewed Hope Agenda workshop, championing coordination between fiscal and monetary policies in Abuja yesterday, according to a statement that was issued by the director of information in the finance ministry, Mohammed Manga.

The workshop is said to be organised by the ministry of finance in partnership with the Central Bank of Nigeria (CBN). The aim is to strengthen the government’s technical capacity in implementing macroeconomic, monetary, and fiscal policies that are vital to Nigeria’s future growth.

Talking to the topic ‘Critical Priorities in Macroeconomic and Fiscal Policy Coordination’, Edun reiterated President Tinubu’s strong commitment to guiding Nigeria towards economic recovery through sound policy implementation and international collaboration. He emphasised the need to leverage the workshop’s insights to ensure long-term fiscal stability and sustainable growth.

The workshop featured several sessions covering key economic areas, including public-private partnerships for infrastructure development, managing foreign currency liabilities, and driving economic growth through Innovation.

Participants also explored how technological advancements can boost Nigeria’s economic competitiveness.