In a bold move to revolutionize Nigeria’s economic landscape, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has spearheaded a high-level Fiscal Data Harmonisation Meeting (FDHM).
This marks a significant milestone in the country’s quest for economic stability and transparency.
The meeting which Tuesday in Abuja, brought together key stakeholders, including the Minister of State for Finance, Dr Doris Uzoka-Anite; the Accountant General of the Federation, Shamsedeen Babatunde Ogunjimi; and the Director General of the Budget Office, Mr Tanimu Yakubu.
Discussions focused on discrepancies in fiscal data across government institutions, which have affected Nigeria’s credit ratings and borrowing capacity. The Minister emphasised the need for synergy between agencies such as the Budget Office, the Accountant General’s Office, and the Debt Management Office (DMO).
He stated: “Delivering accurate and comprehensive fiscal data is critical to economic stability and investor confidence.”
Attendees agreed on the establishment of a Fiscal Data Coordination Framework, which includes a main committee, a subcommittee, and technical teams dedicated to standardising fiscal reporting methodologies and economic assumptions
Edun reaffirmed Nigeria must take ownership of its fiscal data credibility, reducing dependence on external institutions.