EMT Sets Up Committee to Harmonise Macroeconomic Assumptions, Targets Faster Economic Growth

The Federal Government has taken steps to strengthen economic planning and coordination with the establishment of an inter-agency committee to harmonise key macroeconomic assumptions used in budgeting and economic management.
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The decision was reached on Monday, September 7, 2026, at a meeting of the Economic Management Team (EMT) in Abuja, chaired as part of the Federal Government’s efforts to improve economic coordination and accelerate growth across key sectors.
The new committee will harmonise projections on crude oil prices and production, exchange rates, inflation and non-oil revenues used by fiscal and monetary authorities.

According to the EMT, the move became necessary following a joint budget retreat and technical validation workshop which identified inconsistent assumptions among government agencies as one of the factors contributing to budget under-performance.
The committee is also expected to address inconsistencies in the reporting of key economic indicators to government, external stakeholders and the public.

Economy Records Stronger Growth
The EMT noted that Nigeria’s real Gross Domestic Product (GDP) grew by 4.43 per cent year-on-year in the second quarter of 2026, representing the strongest quarterly performance since the third quarter of 2024.

The meeting also noted that external reserves had risen above $54 billion in early September, the highest level in nearly 18 years, according to Central Bank of Nigeria data.

The naira has also strengthened to its firmest level in about two years, trading in the N1,300s to the US dollar in early September.
The Team further welcomed the decision by FTSE Russell to reclassify Nigeria from “Unclassified” to “Frontier Market” status, effective September 21, 2026.
The reclassification is expected to improve the visibility of Nigerian equities among international investors.

The EMT was also briefed that public debt remains below 40 per cent of GDP, while Nigeria’s sovereign credit outlook by Moody’s has improved from stable to positive.

The Team noted that Nigeria’s economy, measured in purchasing-power-parity terms, is valued at more than $2.2 trillion, highlighting the country’s potential to achieve a $1 trillion nominal GDP by 2030.

Stronger Economic Data Coordination
The EMT approved a revised Terms of Reference which expands its responsibilities to include macroeconomic performance reviews, stronger fiscal and monetary coordination, monitoring of Renewed Hope Agenda priorities and periodic assessment of the Federal Government’s financing needs.

The Team also adopted a monthly meeting schedule, with at least two strategic sector reviews to be conducted at each sitting.
To improve the reliability and consistency of official economic statistics, the Ministry of Finance was designated as the coordinating custodian for national economic data, while relevant government agencies will remain responsible for providing data within their respective areas of responsibility.
FG Targets Agriculture Growth
The EMT also reviewed measures aimed at increasing agriculture’s contribution to the government’s ambition of building a $1 trillion economy by 2030.

The strategy includes reducing post-harvest losses, expanding agricultural processing and mechanisation, improving export compliance and ensuring timely release of capital ahead of planting seasons.

The Team further reviewed plans to recapitalise the Bank of Agriculture and establish a new credit window for smallholder farmers.

Government is also targeting an increase in agriculture’s share of private-sector credit to 10 per cent by 2030.
Nigeria Prepares for CANEX 2026, IATF 2027
The EMT reviewed preparations for Nigeria to host the Creative Africa Nexus (CANEX) in November 2026 and the Intra-African Trade Fair (IATF) in November 2027, both in Lagos.

The events are expected to attract exhibitors, international buyers and, in the case of IATF, African heads of state, with significant trade and investment deals projected.

The Ministry of Finance was tasked with coordinating funding and customs facilitation, in collaboration with the Ministry of Industry, Trade and Investment.
The two ministries are also expected to develop a consolidated action plan with clearly assigned responsibilities to relevant ministers.

Economic Growth

The Minister of Finance and Coordinating Minister of the Economy said the decisions were aimed at ensuring greater consistency between government projections and actual economic outcomes.
“Today’s decisions tighten the link between the numbers we plan with and the actual outturns.

A single, harmonised set of assumptions across the fiscal and monetary authorities means fewer surprises in the budget and more credible planning for investors and all Nigerians.”
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Goronyo Honours with Award of Excellence, Inducted as Fellow, Decorated Youth Vanguard Ambassador

The Honourable Minister of State for Works, Rt. Hon. Bello Muhammad Goronyo, Esq., has been honoured with an Award of Excellence and inducted as a Fellow of the Chartered Institute of Management and Leadership in recognition of his contributions to leadership, youth development, public service and national development.
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The Minister was also decorated as a Youth Vanguard Ambassador, under a programme being developed in collaboration with the Federal Ministry of Youth Development to provide platforms for young Nigerians to showcase their talents, innovations, research and leadership potential.

The honours were conferred on the Minister during a special ceremony held today, Monday, 7th September 2026, at the Minister’s Conference Hall, Mabushi, Abuja.

The ceremony was led by the Country Director, USA, Chartered Institute of Management and Leadership, Dr. Samuel Ojo.
Speaking at the ceremony, Goronyo expressed appreciation to the Institute and the organisers for finding him worthy of the recognition, describing the honour as both a privilege and a renewed challenge to contribute more to humanity and national development.

He said, “It is not something small. I take it as a big thing and as another challenge to serve humanity.”
The Minister noted that his commitment to leadership and youth development had taken him to various platforms nationally and internationally, including engagements with the Global Peace Foundation and participation in programmes in countries such as the United States of America and the Philippines.

He stressed that effective leadership must be anchored on transparency, honesty, integrity and accountability, noting that public office holders must continually strive to make positive contributions to society.

Goronyo commended the organisers for recognising his contributions to youth engagement and development, stressing that empowering young Nigerians remains critical to the future of the country.

He also expressed appreciation to the Honourable Minister of Works, Engr. David Nweze Umahi, CON, FNSE, for the cordial working relationship and partnership between them since his assumption of office as Minister of State for Works.

Describing Umahi as “a brother and partner in progress,” Goronyo said their collaboration had contributed to advancing the objectives of the Ministry.

Speaking on the Federal Government’s infrastructure agenda, the Minister of State highlighted the strategic importance of road infrastructure to Nigeria’s economic growth and national development.
He said the administration of President Bola Ahmed Tinubu, GCFR, had demonstrated a strong commitment to improving road infrastructure across the country through major legacy projects and strategic interventions.

Goronyo cited major projects, including the Lagos-Calabar Coastal Highway, Sokoto-Badagry Superhighway and other strategic road corridors, as evidence of the administration’s determination to improve connectivity, facilitate economic activities and promote national development.

He added that the adoption of concrete technology on selected major projects would contribute to the durability and longevity of Nigeria’s road infrastructure.

The Minister called on Nigerians to continue supporting the administration’s development agenda, particularly its efforts to address infrastructure deficits and create an enabling environment for sustainable economic growth.

Earlier, Dr. Samuel Ojo, Country Director, USA, Chartered Institute of Management and Leadership, explained that the ceremony was organised to formally honour and decorate Goronyo, who could not attend the Institute’s earlier programme due to a flight delay.

He said that, in addition to the Fellowship and Award of Excellence, the Institute selected the Minister as one of its Youth Vanguard Ambassadors because of his demonstrated commitment to youth development and leadership.

According to Ojo, the Youth Vanguard Programme is being developed in collaboration with the Federal Ministry of Youth Development to engage young Nigerians through intellectual, innovation and research challenges across tertiary institutions and among youths in the Federal Capital Territory and the 36 states of the federation.

He said the initiative was designed to bridge the gap between young Nigerians with talents and the opportunities required to develop and commercialise those talents.

“We have a lot of talents in the field of innovation and research, but there is no bridge. We are trying to create that bridge through this programme in collaboration with the Federal Ministry of Youth Development,” he said.

Ojo added that the programme would provide opportunities for young Nigerians to develop their talents, create jobs, promote innovation and contribute meaningfully to the future of the country.

He disclosed that the programme would operate at state, zonal and national levels, with plans for a national gathering to be officiated by the President and the Federal Ministry of Youth Development.

In accepting the Fellowship and professional induction, Goronyo pledged to uphold the principles of integrity, accountability, professionalism, human rights, inclusion and respect for the dignity of all persons.

He further committed himself to investing in human-capacity development and supporting the advancement of the management profession for sustainable and inclusive development.

The Minister reaffirmed his commitment to serving as a positive example to those he leads and remaining accountable to the people and society for his actions.

The citation presented at the ceremony highlighted Goronyo’s extensive experience in public service, law, politics and youth mobilisation.

It noted that he had served in various capacities within the political and public service space, including at the local government level and within party structures, and had played a significant role in youth mobilisation during the build-up to the 2023 presidential election.

The citation also highlighted his service across different arms and levels of government, including his appointment as Minister of State for Water Resources and Sanitation before his deployment to the Federal Ministry of Works as Minister of State.

Goronyo

Goronyo is a member and Fellow of several national and international professional organisations and associations, reflecting his broad experience in law, management, public relations, engineering, environmental matters, peacebuilding and leadership.

The ceremony was attended by officials and representatives of the Chartered Institute of Management and Leadership, members of the media and other invited guests.

Abdullahi Mohammed
SA Media to the Honourable Minister of State for Works.
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Governor Umo Eno Strengthens Primary Healthcare with New Model PHC in Akwa Ibom Community

Akwa Ibom State Governor, Pastor Umo Eno, will today, Tuesday, September 8, 2026, commission a newly constructed Model Primary Health Centre in Esit Eket Local Government Area of the state.
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The commissioning is part of activities lined up under the state government’s “39-30 Projects Days” initiative, which highlights key projects being delivered across the state by the Eno administration. The Esit Eket health facility is scheduled as Day 8 of the initiative.
The new Model Primary Health Centre is designed to improve access to quality, affordable and efficient healthcare services for residents of Esit Eket and neighbouring communities.

The facility is expected to provide residents with improved access to essential primary healthcare services while reducing the challenges associated with travelling long distances to access basic medical attention.

Governor Eno’s administration has continued to place emphasis on the development of healthcare infrastructure as part of its broader human capital development and people-oriented programmes.

The construction of the Model Primary Health Centre is therefore expected to contribute to improved healthcare delivery and better health outcomes within the local government area.

The commissioning ceremony is scheduled to commence at 3:00 p.m. at the Model Primary Health Centre, Esit Eket.
The Senator representing Akwa Ibom South Senatorial District, Senator Ekong Sampson, is expected to serve as the Guest of Honour at the event.

The ceremony will be broadcast live by the Akwa Ibom Broadcasting Corporation (AKBC), alongside participating radio stations, including Inspiration FM, Comfort FM, Tangsio FM and Atlantic FM, allowing residents across the state and beyond to follow the event.

The project is one of the infrastructure interventions being undertaken by the Governor Eno administration to strengthen public services and improve the quality of life of citizens.

Umo Eno

With the commissioning of the facility, residents of Esit Eket and surrounding communities are expected to benefit from improved healthcare infrastructure and easier access to primary medical services.

The project further underscores the state government’s commitment to taking development projects closer to the people, particularly in critical sectors such as healthcare, education, infrastructure and human capital development.
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