The Deputy Spokesperson of the House of Representatives, Hon Philip Agbese, has expressed confidence in the capacity of the newly appointed Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, to reposition Nigeria’s fiscal management and address delays affecting the execution of 2025 capital projects.
The Labour Party lawmaker spoke to journalists in Abuja on Tuesday evening, where he said the recent appointment of Oyedele by President Bola Tinubu signals a deliberate move to restore discipline and efficiency to the country’s budgetary process.
“Let me state clearly that the current delays in capital project implementation should not be misinterpreted as a sign of systemic failure.
What we are seeing is that the government of President Bola Tinubu has taken decisive steps to strengthen the economic management team. With the appointment of Mr Taiwo Oyedele, Nigerians can be assured that the economy is in capable hands,” he said.
The UK-trained lawmaker described Oyedele as a seasoned fiscal policy expert whose track record in tax reform, public finance, and economic advisory places him in a strong position to address structural inefficiencies that have historically slowed budget implementation.
“What distinguishes the new minister is not just his technical competence, but his deep understanding of Nigeria’s fiscal architecture.
He has spent years working on tax policy, revenue optimisation and economic reforms, and that experience is exactly what is required at this critical time,” he said.
Agbese noted that Oyedele previously led the Presidential Fiscal Policy and Tax Reforms Committee, where he was instrumental in designing frameworks aimed at improving revenue generation and aligning fiscal policies with national development goals.
“Mr Oyedele has demonstrated, through his previous roles, that he possesses the clarity of thought and intellectual sagacity required to interrogate complex economic challenges and provide practical, results-driven solutions.
This is not a trial-and-error appointment; it is a strategic decision grounded in competence and experience,” he said.
The legislator noted that the minister’s background in both the public and private sectors, including his advisory role at a leading global consulting firm, gives him a unique perspective on managing Nigeria’s economic realities.
According to Agbese, the focus of the new finance minister should be to ensure that budgetary allocations are efficiently deployed and that capital projects begin to reflect tangible impact across sectors.
“It is important to emphasise that what Nigerians should expect at this point is not rhetoric, but results.
The minister understands the urgency of improving capital releases and ensuring that funds appropriated by the National Assembly are translated into real development outcomes,” he said.
Agbese said the National Assembly would continue to provide legislative backing and oversight to support ongoing reforms within the finance ministry.
“As a parliament, we will work closely with the executive to ensure that the necessary frameworks are in place for effective budget implementation.
We are confident that under Mr Oyedele’s leadership, the national budget will be brought back on track and aligned with the expectations of ordinary Nigerians,” he said.
The lawmaker expressed optimism that the combination of strong leadership, policy clarity, and institutional support would improve the pace of capital project execution in the coming months and strengthen overall economic governance.
