Finance ministry, CBN sign fiscal-monetary pact to align economic policies

Nigeria's finance ministry and central bank signed a memorandum of understanding Friday to deepen policy coordination, improve economic data sharing and align forecasts as the government works to lower inflation and support investment. Finance Minister Taiwo Oyedele said the agreement would institutionalize collaboration between the two institutions and ensure fiscal and monetary decisions account for their broader economic effects. The pact includes mechanisms for sharing government cash positions, financing plans and foreign-exchange data, and reflects the government's view that controlling inflation requires whole-of-government action beyond monetary policy alone, including agricultural infrastructure investment and disciplined fiscal spending.