How Ikwechegh’s ₦1.15tr Interrogation Led to Tinubu’s Cabinet Shake-Up

Doris Uzoka-Anite

How Ikwechegh’s ₦1.15tr Interrogation Led to Tinubu’s Cabinet Shake-Up

President Bola Tinubu has removed Doris Uzoka-Anite as Minister of State for Finance and nominated Taiwo Oyedele as her replacement, following a dramatic cabinet reshuffle that came just one week after an explosive budget defence hearing at the House of Representatives.

The development has sparked intense national debate, as it followed public scrutiny over ₦1.15 trillion in approved capital funds that were reportedly not disbursed despite being part of the 2025 federal budget.

On February 25, 2026, Alex Mascot Ikwechegh, member representing Aba North/Aba South Federal Constituency, confronted the finance team during the Appropriation Committee’s budget defence session. Armed with documentation from his role on the House Committee on Aids and Loans, Ikwechegh listed major approved loans and funding arrangements, including $1.2 billion for digital infrastructure, $500 million economic stimulus, $500 million MSME support (December 2025), $500 million AfDB-backed economic governance and energy transition funding, additional executive loan requests in multiple currencies, and ₦1.15 trillion — representing 30% of the 2025 capital budget — approved but not disbursed.

Despite these approvals and strong revenue reports from agencies such as FIRS and Nigeria Customs Service, lawmakers were informed that capital project execution stood at zero percent. Ikwechegh pressed the panel, questioning why capital projects across Nigeria remained unfunded while recurrent expenditure had already consumed a significant portion of released funds.

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When questioned, Minister of Finance Wale Edun reportedly shifted responsibility for disbursements to Uzoka-Anite, prompting the committee to summon her the following day. Uzoka-Anite confirmed that the ₦1.15 trillion had indeed been approved but stated that some ministries had not met “pre-disbursement conditions.” Lawmakers demanded clarification on which ministries had met all requirements yet failed to receive funding. She was unable to name any, raising concerns over whether funds were approved without adequate verification or whether allocations were being withheld without justification.

Exactly seven days after the initial hearing, the presidency announced a cabinet reshuffle. In a statement issued by presidential spokesperson Bayo Onanuga, Uzoka-Anite was reassigned to the Ministry of Budget and National Planning as Minister of State, marking her third portfolio under the Tinubu administration. She had previously served as Minister of Trade and Investment before moving to Finance. Her replacement nominee, Taiwo Oyedele, now awaits Senate confirmation. The official statement did not directly link the reshuffle to the budget defence hearing, but the timing has fueled widespread public speculation.

Taiwo Oyedele is a respected tax expert and economist who previously chaired the Presidential Committee on Fiscal Policy and Tax Reforms. Before his nomination, he spent over two decades at PwC, rising to become Fiscal Policy Partner and Africa Tax Leader. He is widely known for leading tax reform initiatives aimed at simplifying Nigeria’s tax system and broadening the revenue base. If confirmed, Oyedele will work alongside Wale Edun at the Federal Ministry of Finance.

The controversy surrounding the ₦1.15 trillion capital budget funds highlights deeper concerns about budget implementation, public finance transparency, and accountability in Nigeria. While the cabinet reshuffle signals a political response, the core question remains unresolved: Where is the ₦1.15 trillion approved for capital projects?

If funds were approved by the National Assembly but not released for infrastructure development, the implications extend beyond politics to roads, hospitals, schools, and economic growth nationwide. For many Nigerians, the sequence of events suggests that legislative oversight may have triggered executive action. Whether further investigation or accountability measures will follow remains to be seen.