Nigeria’s Economic Management Team (EMT), Chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun has convened a meeting earlier with participation from key ministries and agencies to assess the fiscal and economic implications of recent trade-related developments.
According to a statement by Mohammed Manga Director, Information and Public Relations to the ministry, the recent announcements of tariff measures by the United States Government and their potential impact on Nigeria’s economy was of particular focus at the meeting. While crude oil—Nigeria’s major export—has not been directly targeted, the EMT noted the accompanying fall in the international oil price.
To support evidence-based policy making, Manga added that the EMT has established a sub-committee tasked with conducting a detailed review of the direct and indirect economic impacts of both the emerging tariff measures and the global commodity price shifts. The sub-committee includes 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 of Nigeria (CBN)
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