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Edun, Cardoso meet to strengthen fiscal, monetary policies synergy

 

 

 

 

 

 

 

 

 

 

The Federal Government has spoken of plans to strengthen fiscal and monetary policies to boost the economy.

Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, met with the Central Bank Governor, Dr. Olayemi Cardoso, yesterday on the steps.

Also at the meeting held at the CBN Headquarters in Abuja was the Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji.

According to a statement by the ministry via its official X handle, the meeting was designed to sustaining macroeconomic stability, boosting investor confidence, and unlocking private sector-led growth in line with the federal government’s economic reform agenda.

The statement noted that Mr. Edun stressed the importance of synergy between both arms of economic management.

“The minister reaffirmed that close alignment between fiscal and monetary policy is critical to consolidating President Bola Tinubu’s reform agenda, ensuring inflation is contained, revenues are mobilised efficiently, and credit flows effectively to productive sectors,” it said.

The meeting comes against the backdrop of criticisms that, in the last administration, there was little or no synergy between fiscal and monetary authorities.

This was said to have led to policy inconsistencies that undermined growth, stifled private sector participation, and heightened macroeconomic challenges.

With Nigeria witnessing a consistent decline in inflation, relative exchange rate stability, and a need to attract more investment inflows, the latest meeting signals the current administration’s determination to forge closer collaboration among key economic managers.

Managing Director and Chief Executive Officer of Ambosit Capital Managers, Dr. Wahab Balogun, noted that “the presence of the finance minister, the CBN governor, and the FIRS chairman at the same table suggests a more integrated approach to tackling revenue shortfalls, inflation management, and credit delivery to critical sectors of the economy.”

While no specific policy measures were announced immediately after the meeting, Dr. Balogun foresees benefits.

He believes “the discussions will shape upcoming fiscal and monetary strategies, especially as the government continues to push reforms designed to stabilise the economy and stimulate growth.”

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