The Central Bank of Nigeria and the Federal Ministry of Finance have formalised a framework for closer coordination between monetary and fiscal authorities as the government seeks to sustain economic reforms and strengthen macroeconomic stability.
The two institutions recently signed a Memorandum of Understanding on Fiscal-Monetary Policy Coordination, establishing a structured platform for sharing information and aligning policies on inflation, economic growth, government revenue, liquidity, public financing and exchange-rate management.
CBN Governor Olayemi Cardoso said the agreement would strengthen the institutions’ shared responsibility for maintaining macroeconomic stability and building a more resilient economy. The framework is also intended to preserve the operational independence of the central bank while improving cooperation with fiscal authorities.
Finance Minister and Coordinating Minister of the Economy Taiwo Oyedele stressed that sustainable reforms require strong institutions and consistent policies rather than dependence on individual officeholders.
The coordination comes as Nigeria continues implementing reforms aimed at improving price stability, strengthening public finances and creating conditions for investment and sustainable growth.
Closer alignment between fiscal and monetary policy is expected to reduce policy conflicts and provide a more predictable environment for businesses, investors and households.
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