The Federal Government has established a high-powered inter-agency committee to harmonize macroeconomic assumptions used by Ministries, Departments and Agencies (MDAs) in national budgeting and economic planning. The decision was announced following a meeting of the Economic Management Team (EMT) chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, in Abuja. The committee will align key economic assumptions such as crude oil price and production benchmarks, exchange rate, inflation, and non-oil revenue projections to improve budget credibility and policy coordination. This move comes after a joint budget retreat and technical validation workshop attributed part of the country's budget under-performance to inconsistent projections.
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