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•Edun: Accurate, comprehensive data critical to economic stability, investor confidence

Ndubuisi Francis in Abuja

In a bid to stamp out discrepancies in fiscal data across government institutions, which affect Nigeria’s credit ratings, impinge investor confidence, and constitute hurdles to borrowing, the federal government is considering a Fiscal Data Coordination Framework.

This followed a high-level discussion hosted by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, in Abuja, Monda.

The gathering christened Fiscal Data Harmonisation Meeting (FDHM), was considered a major step towards  economic stability and transparency.

The Director, Information and Public Relations, Ministry of Finance, Mohammed Manga said the meeting was also attended by 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.

Manga, in a statement said discussions focused on discrepancies in fiscal data across government institutions, which have affected Nigeria’s credit ratings and borrowing capacity.

Edun emphasised the need for synergy between agencies such as the Budget Office of the Federation (BOF), the Accountant General’s Office, and the Debt Management Office (DMO).

At the meeting Edun said: “Delivering accurate and comprehensive fiscal data is critical to economic stability and investor confidence.”

Participants at 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 assumption.

 Edun explained that Nigeria must take ownership of its fiscal data credibility, reducing dependence on external institutions.

“The meeting concluded with a firm commitment to implementing the framework, reinforcing transparency, strengthening investor confidence, and enhancing Nigeria’s economic outlook.

“As Nigeria embarks on this transformative journey, one thing is clear: accurate and reliable fiscal data will be the cornerstone of the country’s economic resurgence.

“With HM Edun’s leadership and the collective efforts of stakeholders, Nigeria is poised to regain its footing on the global economic stage,” Manga said.