The Federal Government’s Economic Management Team (EMT), chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has established a sub-committee to conduct a detailed review of the direct and indirect economic impacts of emerging tariff measures and global commodity price shifts on the Nigerian economy.
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The findings of the sub-committee are expected to support the government in crafting a coordinated response, helping to formulate evidence-based policies aimed at stimulating economic growth and insulating the nation from the adverse effects of the ongoing global trade tensions.
Mohammed Manga, Director of Information and Public Relations, disclosed that the sub-committee had already held its inaugural meeting during the week and would present its findings to the full EMT promptly.
The sub-committee comprises representatives from the Federal Ministry of Finance, the Ministry of Budget and Economic Planning—including the Budget Office of the Federation—and the Central Bank of Nigeria (CBN).
Earlier in the week, the EMT convened a broader meeting involving key ministries and agencies to evaluate the fiscal and economic implications of recent trade-related developments.
The discussions paid particular attention to the recent tariff measures announced by the United States Government and their potential impact on Nigeria’s economy.
The EMT noted that although Nigeria’s major export, crude oil, has not been directly targeted, the accompanying drop in international oil prices is a source of serious concern to the administration.
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