The Federal Government has constituted a sub-committee to assess the potential economic implications of the new tariffs introduced by the United States, as concerns grow over how global trade tensions may affect Nigeria's fiscal stability.
The decision was taken following a recent meeting of the Economic Management Team (EMT), chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
According to a statement issued by Mohammed Manga, Director of Information and Public Relations at the finance ministry, the meeting focused on evaluating the fiscal and macroeconomic risks emerging from global trade shifts.
While Nigeria's top export, crude oil, has not been directly affected by the US tariff changes, the development coincides with falling global oil prices—raising fears of revenue shortfalls and growing budgetary pressure.
Read also
To inform government decisions with data, the EMT has mandated a sub-committee to carry out a detailed analysis of the potential direct and indirect effects of both the new tariff regime and commodity price fluctuations.
The sub-committee comprises representatives from the Ministry of Finance, Ministry of Budget and Economic Planning (including the Budget Office of the Federation), and the Central Bank of Nigeria.
The findings are expected to help shape policy responses aimed at cushioning any negative impacts on the Nigerian economy.
No comments:
Post a Comment