Ifediora Amobi, a former International Monetary Fund and World Bank expert, has endorsed the economic management of Taiwo Oyedele, Nigeria's Minister of Finance and Coordinating Minister of the Economy. Amobi said Oyedele's policy expertise has been crucial in stabilizing public finances, reducing revenue leakages, and encouraging private-sector growth.
Amobi's support comes after recent public questioning of Oyedele's formal background for managing macroeconomic policy. However, Amobi noted that structural reforms including foreign exchange unification, subsidy realignments, and four major tax reform laws enacted in 2025 were necessary to prevent financial collapse, despite imposing short-term hardship on households.
According to Oyedele's own account, the removal of petrol subsidies generated 15.8 trillion in proceeds for the three tiers of government between June 2023 and December 2025. The finance ministry intends to use this newly captured fiscal space for capital projects, industrial growth, and sustainable job creation. Oyedele previously spent 22 years at PwC, where he served as Fiscal Policy Partner and Africa Tax Leader before chairing the Presidential Committee on Fiscal Policy and Tax Reforms.
Amobi stressed that the true measure of these reforms will be whether increased government revenue translates into better infrastructure, employment, improved social services, and a more competitive business environment. He called for sustained reform momentum alongside targeted support for vulnerable citizens.