Nigeria’s new fiscal-monetary policy agreement will have to deliver more than closer cooperation between the Finance Ministry and the Central Bank of Nigeria (CBN). BusinessDay analysis identifies four indicators that could provide a practical framework for assessing whether the pact is translating into better economic outcomes: bank lending rates moving towards 15 percent, the monetary policy rate falling towards 12 percent, inflation reaching about 10 percent and external reserves rising towards $75 billion. These are analytical benchmarks, not official targets contained in the September 18 memorandum of understanding (MoU). They provide a framework for assessing whether closer fiscal-monetary coordination is translating into lower financing costs, sustained disinflation and stronger external buffers. The starting point has already shifted.