22/09/2026
THE WEDDING OF THE TWO ELEPHANTS
Nigeria's Ministry of Finance and Central Bank have taken an important step by agreeing to coordinate fiscal and monetary policy more closely.
The agreement covers shared economic assumptions, information exchange, government financing, cash management and inflation. This matters because poorly coordinated policies can push borrowing costs higher, crowd businesses out of credit and weaken the effect of reforms.
But Nigerians should judge this agreement by results, not ceremony.
The economy grew by 4.43% year-on-year in the second quarter of 2026, while inflation and external reserves showed signs of improvement. Yet the 2022 National Multidimensional Poverty Index recorded 132.92 million Nigerians as multidimensionally poor. In 2025, interest payments consumed an estimated 53.2% of Federal Government revenue.
The Alliance for Economic Research and Ethics is calling for a poverty-impact dashboard, lower debt-service pressure, more private-sector credit, supply-side action on food inflation, legal protection for policy coordination and clearer communication with citizens.
The question is simple: will stronger coordination reduce the cost of food, expand opportunity and improve daily life?
Read the full policy commentary:https://allianceforethics.org/wp-content/uploads/2026/09/The-Wedding-of-The-Two-Elephants-.pdf
Which result should Nigerians expect first: lower inflation, more jobs or affordable credit?
