ABUJA, Nigeria — President Bola Tinubu has removed Dr. Doris Uzoka-Anite from the Ministry of Finance, appointing tax expert Taiwo Oyedele as the new Minister of State for Finance following an explosive legislative inquiry into ₦1.15 trillion in “missing” or undisbursed capital funds.
The shake-up, announced Tuesday by presidential spokesperson Bayo Onanuga, comes exactly one week after a high-stakes budget defence session where the administration’s fiscal management was shredded by members of the House of Representatives.
the mascot ikwechegh interrogation
The catalyst for the reshuffle appears to be the February 25th hearing of the House Committee on Appropriation. Hon. Alex Mascot Ikwechegh, representing Aba North/South, confronted the finance team with a detailed dossier of approved but stagnant funds.
Ikwechegh highlighted a disturbing disconnect: while the government has secured billions in foreign loans—including $1.2 billion for digital infrastructure and $500 million for MSME support—and reported record revenues from the FIRS, execution of capital projects remains at near-zero percent.
“Why does the capital of the Nigerian government remain at zero in 2026?” Ikwechegh demanded during the session. “I want you to enlighten us on why the 2024 budget is yet to be fully implemented and why the 2025 budget has only been funded 34%, mostly for recurrent expenditure.”
shifting blame in aso rock
The inquiry took a dramatic turn when Finance Minister Wale Edun deferred specific questions on disbursements to his deputy, Uzoka-Anite. When she appeared before the committee the following day, she confirmed the ₦1.15 trillion figure but blamed “pre-disbursement conditions” for the delay.
Ikwechegh countered by asking the Minister to name a single ministry that had met the conditions but remained unfunded. When she failed to provide a name, the implication of systemic misappropriation became the focal point of the hearing.
“If this infraction is identified, it means there has been misappropriation of funds—which is a crime,” Ikwechegh stated following the adjournment.
a third portfolio for uzoka-anite
In what critics describe as a “lateral move” to shield a political ally, Uzoka-Anite has been redeployed to the Ministry of Budget and National Planning as Minister of State. This marks her third role in two years, having previously moved from Trade and Investment to Finance.
Her replacement, Taiwo Oyedele, is a seasoned economist and the former Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms. A veteran of PwC, Oyedele’s appointment is seen as an attempt to restore investor confidence and technical credibility to a ministry currently mired in allegations of corruption and incompetence.
rural suffering and insecurity
The administrative friction comes at a time of unprecedented economic hardship. In Nigeria’s rural communities, the failure to fund capital projects—such as roads, clinics, and energy infrastructure—has exacerbated a cost-of-living crisis that many observers link directly to the country’s worsening security situation.
While the Presidency has officially framed the move as a routine “reinvigoration” of the cabinet, the timeline suggests that the pressure applied by the National Assembly made Uzoka-Anite’s position at the Treasury untenable. Oyedele now awaits Senate confirmation as the administration struggles to explain the gap between its record borrowings and the lack of visible development on the ground.
