Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has opened a national conversation on how the country should make and measure economic decisions, unveiling a proposed Nigeria Economic Policy Framework for public consultation.

Presenting the draft at the 32nd Nigerian Economic Summit, Oyedele described policy uncertainty as an “invisible tax” on businesses, arguing that inconsistent decisions discourage investment, destroy value and generate no revenue.

He said the proposed framework is not a development plan, a list of projects or the manifesto of any administration. Instead, it seeks to create a national economic doctrine that defines how decisions are made, the principles guiding them and the benchmarks for measuring real progress.

A major proposal in the draft is the introduction of a Policy Impact Statement for every major economic intervention. Such statements would be required to state the problem being addressed, the evidence behind the intervention, its beneficiaries, costs and the timeline for its termination.

The framework also proposes an annual National Economic Scorecard, to be published on or before October 1 each year. The scorecard would assess economic performance, with focus on rising real wages, productive employment and poverty reduction.

Oyedele stressed that the document is still a consultation draft and not an approved government policy.

He invited businesses, professionals, academics, civil society organisations and members of the public to review the proposals and submit recommendations before the consultation closes on November 27, 2026.

Nigerians can access the framework and make contributions through the Ministry of Finance website at https://finance.gov.ng/resource-nigeria-economic-policy-framework.

The minister expressed hope that the consultation would produce a lasting national economic accord, promote policy consistency, strengthen investor confidence and ensure that economic decisions deliver measurable improvements in the lives of Nigerians.