President Bola Ahmed Tinubu has approved a cabinet reshuffle that removes Dr. Doris Uzoka-Anite as Minister of State for Finance and reassigns her to the Ministry of Budget and National Planning.
In her place, the President nominated economist Taiwo Oyedele as the new Minister of State for Finance, pending confirmation by the Senate of Nigeria.
The development comes days after a budget defence session at the House of Representatives of Nigeria where lawmakers raised concerns about the disbursement of capital funds in the 2025 budget.
Lawmaker Raises Questions Over ₦1.15 Trillion Capital Funds
During the hearing, Hon. Alex Mascot Ikwechegh, who represents Aba North/Aba South Federal Constituency, questioned government officials over approximately ₦1.15 trillion in approved capital funds that had reportedly not been disbursed.
Ikwechegh, a member of the House Committee on Aids, Loans and Debt Management, presented figures showing several international loans and financial approvals tied to development programmes, including:
- $1.2 billion for digital infrastructure
- $500 million for economic stimulus
- $500 million for MSME support approved in December 2025
- $500 million African Development Bank facility for economic governance and energy transition
- Additional loan requests totaling $21 million, ¥15 billion, and €4 billion
According to the lawmaker, despite these funds and revenues generated by agencies such as the Federal Inland Revenue Service and the Nigeria Customs Service, the implementation level of capital projects remained extremely low.
He questioned why the 2024 budget had not been fully implemented and why only about 34 percent of the 2025 budget had reportedly been funded, largely through recurrent expenditure.
Finance Ministry Responds at Budget Hearing
During the session, Finance Minister Wale Edun reportedly indicated that the disbursement process was handled by the Minister of State for Finance.
The committee subsequently invited Uzoka-Anite to appear before lawmakers for clarification.
At the hearing, the minister confirmed that the ₦1.15 trillion had been approved but explained that some ministries had not met pre-disbursement requirements needed for the release of funds.
However, lawmakers requested details of ministries that had met all conditions but still did not receive funding.
Cabinet Reshuffle Announced
On March 3, the Presidency announced the cabinet reshuffle in a statement by Bayo Onanuga.
The statement confirmed Uzoka-Anite’s redeployment to the Ministry of Budget and National Planning as Minister of State. She previously served as Minister of Industry, Trade and Investment before moving to the finance portfolio.
Her replacement nominee, Taiwo Oyedele, previously chaired the Presidential Committee on Fiscal Policy and Tax Reforms and spent more than two decades at PwC as a fiscal policy and tax expert.
Senate Confirmation Expected
Oyedele’s appointment will take effect after confirmation by the Nigerian Senate.
While the official statement announcing the reshuffle did not reference the budget defence hearing, the timing has drawn attention from political observers and analysts monitoring developments in Nigeria’s fiscal management.
Meanwhile, questions raised during the legislative hearing regarding the disbursement of capital funds remain part of ongoing discussions around budget implementation and public accountability.
