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Ticket Reform Boosts Confidence in Lagos–Ibadan Rail Service, Says Opeifa

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A quiet transformation is reshaping the daily commute between Nigeria’s commercial hub and the historic city of Ibadan. Passengers on the Lagos–Ibadan standard gauge corridor say services have become more efficient and predictable following a clampdown on ticket racketeering led by Kayode Opeifa

The renewed confidence in the rail line linking Lagos and  is influencing residential and employment decisions among middle-income earners who once considered daily intercity commuting unrealistic.

“It is now possible to live in Ibadan and work in Lagos without the daily anxiety of securing a ticket,” said Adewale Bamidele, a financial analyst who travels three times a week. “Before, you needed connections. Now, you book, you board, you arrive.”

A Line Once Hindered by Middlemen

The Lagos–Ibadan railway, inaugurated as a flagship infrastructure project under the administration of former President Buhari was designed to ease pressure on the congested Lagos–Ibadan Expressway and deepen economic integration across the South-West.

However, in its early phases, passengers frequently complained of informal ticket rackets. Allegations included bulk-buying by intermediaries and artificial scarcity that forced travellers to pay inflated prices for seats on high-demand trains.

Industry observers say such practices undermined the railway’s credibility as a mass transit solution. “Transport systems thrive on predictability and fairness,” said a transport economist “Once access is perceived as compromised, commuters revert to road transport despite the risks and delays.”

Enforcement and Digitisation

Since assuming oversight responsibilities within the sector, Opeifa has reportedly intensified internal monitoring and strengthened digital ticketing protocols. Railway officials, speaking on condition of anonymity, said stricter verification processes and disciplinary measures against errant staff have curtailed unauthorised ticket sales.

Although the Nigerian Railway Corporation has not released detailed enforcement data, anecdotal evidence from regular commuters points to shorter queues, smoother boarding procedures and fewer last-minute cancellations.

For professionals with flexible work schedules, the improvement has been significant. The average journey time of about two to three hours—depending on the service type—now compares favourably with unpredictable road travel, which can take considerably longer during peak traffic.

Changing Urban Dynamics

Property agents in Ibadan report a modest rise in enquiries from Lagos-based workers seeking more affordable housing. Rents in many parts of Ibadan remain significantly lower than comparable neighbourhoods in Lagos, offering relief to households grappling with inflationary pressures.

“Rail reliability changes everything,” said Funke Adebayo, a real estate consultant in Ibadan. “When people trust the timetable, they are more willing to relocate.”

Economists caution, however, that long-term success will depend on consistent maintenance, adequate security along the corridor and transparent ticketing systems. Any return to informal practices could quickly erode recent gains.

The Lagos–Ibadan corridor is widely regarded as a litmus test for Nigeria’s broader rail ambitions. With additional standard gauge projects planned or underway nationwide, policymakers face mounting pressure to ensure that infrastructure investments translate into reliable public service delivery.

For now, passengers remain cautiously optimistic.

“It feels more organised,” Bamidele said while disembarking at Mobolaji Johnson Station in Lagos. “If this standard is sustained, rail can genuinely compete with road transport.”

Nigeria agree, the real challenge lies not just in laying tracks, but in sustaining public trust.

Continue Reading

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Breaking : Finance Ministry Shake-Up: Tinubu Nominates Oyedele, Says Onanuga

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President Bola Tinubu has nominated the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Dr. Taiwo Oyedele, as the Minister of State for Finance.

Oyedele replaces Dr. Doris Anite-Uzoka, who has been redeployed to the Ministry of Budget and National Planning as Minister of State, her third portfolio in the administration.

The President on Tuesday conveyed Oyedele’s nomination to the Senate for confirmation in a letter to the Senate President, Godswill Akpabio, according to a statement by his Special Adviser on Information and Strategy, Bayo Onanuga, on Tuesday.

Until Tinubu nominated him as a minister, Oyedele from Ikaram, Akoko, Ondo State, was the chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, which overhauled Nigeria’s tax system.

The 50-year-old is an economist, accountant, and public policy expert who led the comprehensive overhaul of Nigeria’s tax system through the Presidential Committee on Fiscal Policy and Tax Reforms.

The committee, inaugurated in August 2023, delivered four executive bills that consolidated over 60 taxes into fewer than 10 statutes and introduced significant reforms, including zero income tax for Nigerians earning N800,000 annually or less.

The Tax Reform Acts, which became effective on January 1, 2026, also exempted small businesses with turnover below N50m from company income tax, capital gains tax, and development levy.

Other provisions include a 50 per cent tax deduction for companies hiring new workers for three years, a 50 per cent deduction for wage increases to the lowest-paid employees, and a five-year corporate tax holiday for agricultural enterprises.

Oyedele attended Yaba College of Technology, where he obtained a Higher National Diploma in Accountancy and Finance, before proceeding to Oxford Brookes University for a BSc in Applied Accounting.

He also completed executive education programmes at the London School of Economics, Yale University, the Gordon Institute of Business Science, and the Harvard Kennedy School.

Oyedele spent 22 years at PricewaterhouseCoopers, joining in 2001 and rising to become the Fiscal Policy Partner and Africa Tax Leader before his appointment to head the tax reform committee.

He is currently a professor at Babcock University in Ogun State and a visiting scholar at the Lagos Business School.

As Minister of State for Finance, Oyedele is expected to oversee the implementation of the tax reforms he championed, particularly as the government seeks to improve revenue generation and deepen economic reforms.

Anite-Uzoka, who is being redeployed to the Ministry of Budget and National Planning, previously served as Minister of State for Industry, Trade and Investment before her appointment as Minister of State for Finance.

The Senate is expected to screen and confirm Oyedele’s nomination in the coming weeks, following which he will be sworn in to assume his ministerial duties.

The Finance Ministry, currently led by Wale Edun as substantive minister, oversees fiscal policy, revenue mobilisation, debt management, and economic planning.

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Breaking : ICPC Seizes Security Documents, Wiretapping Devices During Search of El-Rufai’s Home

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We got warrant to detain ex-governor for 14 days
He declined to cooperate with investigators
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) said it recovered equipment allegedly capable of tapping conversations and sensitive security documents from the Abuja home of former Governor Nasir el-Rufai.

The commission also said it obtained a legal order from a Magistrate Court in Bwari in the Federal Capital Territory (FCT) to detain el-Rufai for 14 days, which is due to expire on Thursday.

It denied allegations of arbitrary detention and repression of the former governor.

The commission has asked the High Court of Justice of the Federal Capital Territory to dismiss el-Rufai’s application alleging violation of his fundamental human rights.

ICPC said the former governor has corruption allegations to answer, including questions over the whereabouts of €1.4 million; 180 suspicious payments totalling N2,158,799,199 from a Consolidated Revenue Account linked to Kaduna State’s IGR account; and transfers to undisclosed accounts amounting to N428,122,180.18, among others.

The commission confirmed that an aide of the former governor, allegedly linked to the matter, has left the country.

ICPC made the claims in an affidavit deposed to by a Litigation Officer, David Efuk, before the High Court of Justice of the Federal Capital Territory, where el-Rufai is seeking redress and release from detention.

The commission said all the suspected items were retrieved in the presence of the former governor’s wife, Hadiza, and his son, Mohammed.

The agency also alleged that the former governor declined to cooperate with investigators, opting to remain silent until he is brought before a court.

It added that an aide of the former minister linked to the investigation had escaped from the country.

The anti-graft body made the claims in processes filed before the court, seeking the dismissal of the fundamental human rights enforcement suit.

ICPC said: “On the 18th day of February, 2026, at about 7 pm, the applicant was released to the DSS by the EFCC to be handed over to the commission.

“On the 19th day of February, 2026, the commission obtained a remand order to keep the applicant in its custody for 14 days, which will lapse on the 5th day of March, 2026.

“The commission has since confronted the applicant with the retrieved documents during its preliminary investigation activities, but the applicant has refused to respond to interviews to date.

“On the 19th day of February, 2026, the commission executed a duly signed search warrant on the premises of the applicant at No. 12 Mambila Street, Aso Drive, Asokoro District, Abuja.

“During the search, which was witnessed by the applicant’s wife, Hadiza Isma el-Rufai, and his son, Hon. Mohammed Bello el-Rufai, the commission retrieved sensitive security documents capable of compromising national security.

“The applicant, on national television (Arise Television), admitted to tapping telephone conversations of the National Security Adviser, Mallam Nuhu Ribadu.

“During the search operations, the commission retrieved electronic magnetic equipment allegedly capable of tapping conversations.

“He was asked to give consent to enable the commission access the equipment, but he refused. A copy of the consent form is attached and marked Exhibit ICPC 5.

“The search also retrieved sensitive security documents of various security agencies of the government.

“The applicant is also allegedly threatening likely prosecution witnesses, and one such witness has written to the commission seeking protection. A copy of the letter is attached and marked Exhibit ICPC 6.”

The ICPC insisted that el-Rufai was lawfully detained pursuant to a remand order issued by a Magistrate Court in Bwari, FCT.

It said the court granted the commission 14 days to keep him in custody to enable it conduct investigations.

It said: “Contrary to the depositions of the applicant in his supporting affidavit, he is lawfully held in the custody of the commission, and the commission has not breached any of his fundamental rights as claimed.

“ICPC does not arbitrarily arrest or detain suspects unlawfully, nor pose any physical danger to them.

“ICPC’s mandate is to investigate cases of corruption, abuse of office and related offences, and where there is prima facie evidence, prosecute alleged offenders.

“ICPC can only charge a person to court when investigations are concluded.

“Where investigation is ongoing, ICPC may request an alleged offender to report to its office daily until investigations are concluded or, where necessary, remand the alleged offender pending conclusion of investigations.

“ICPC undertakes to draw up charges against the applicant before the 5th of March, 2026, when the detention order will lapse.

“It is in the interest of justice to dismiss his application for lacking merit and allow the commission to investigate the allegations thoroughly in the public interest.”

ICPC said it followed due process in inviting el-Rufai based on a petition alleging corrupt practices.

It said: “The commission received a petition against the applicant, a former two-term Governor of Kaduna State.

“Thereafter, the commission began preliminary investigations into the allegations contained in the petition and retrieved relevant documents from banks and other government institutions.

“Upon conclusion of preliminary investigations, the commission made several efforts to invite the applicant to confront him with documents retrieved during the investigation.

“Every attempt to invite the applicant via formal letters proved abortive.

“On the 5th day of February, 2026, the commission received information about the applicant’s arrival at the Nnamdi Azikiwe International Airport, Abuja.

“Operatives of the Department of State Services were contacted to assist in arresting him, but the attempt was unsuccessful.

“The commission later located the applicant’s residence at Aso Drive, Abuja, and formally served him with an invitation letter to appear before the commission on the 13th day of February, 2026, at 10am.

“The applicant, through his legal representatives, requested to honour the invitation on the 18th day of February, 2026.

“Before the agreed date, he had honoured an invitation by the Economic and Financial Crimes Commission (EFCC) and was detained.

“He was later granted administrative bail but was unable to meet the conditions and remained in EFCC custody.”

The petition against el-Rufai alleged:

Serious discrepancies in the state’s debt profile.

Cash withdrawals in foreign currency amounting to €1.4 million, with the purpose allegedly unclear.

Alleged diversion of public revenue by failure to remit funds into the TSA account.

Use of a debit card on a revenue bank account, with total transactions amounting to N721,672,854.88.

Alleged violation of Section 3.3.1 of Kaduna State Financial Policies and Procedures Manual 2016.

Diversion of funds to individuals and companies amounting to N393,752,670.05.

Transfers to undisclosed accounts totalling N428,122,180.18.

Suspicious payments (180) amounting to N2,158,799,199 from a Consolidated Revenue Account linked to Kaduna State IGR.

The petition further alleged: “The past administration collected about N98.912 billion as domestic loans for developmental projects in Kaduna State.

“The past administration also collected over $7,366,070,222.5 as foreign loans to be serviced by the people of Kaduna State.

“Our findings showed that while the Kaduna State Government between 2015 and 2023 embarked on ambitious projects, some were allegedly executed in contravention of procurement laws.

“It is alleged that only a few projects were completed, while several were abandoned despite full payment to contractors.

“Of concern was the alleged disregard for the Kaduna State Public Procurement Law, 2016.”

In a statement on oath to the ICPC, el-Rufai said he was being persecuted as an opposition figure.

He stated that he would exercise his right to silence until arraigned before a court.

He said: “I am a leading member of the African Democratic Congress (ADC), which I consider the only surviving opposition party in Nigeria, and that is the real reason I am being investigated.

“Regarding this question and any other questions, I have, on the advice of counsel, decided to exercise my right to silence.

“I believe that after nearly two years of intensive investigation, the ICPC should present its findings before a judicial tribunal and not to me.

“I will respond to any allegations only in a court of law. I do not believe these investigations amount to law enforcement.

“This is political persecution which only a judge can decide upon.”

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Ticket Reform Boosts Confidence in Lagos–Ibadan Rail Service, Says Opeifa

Published

on

A quiet transformation is reshaping the daily commute between Nigeria’s commercial hub and the historic city of Ibadan. Passengers on the Lagos–Ibadan standard gauge corridor say services have become more efficient and predictable following a clampdown on ticket racketeering led by Kayode Opeifa

The renewed confidence in the rail line linking Lagos and  is influencing residential and employment decisions among middle-income earners who once considered daily intercity commuting unrealistic.

“It is now possible to live in Ibadan and work in Lagos without the daily anxiety of securing a ticket,” said Adewale Bamidele, a financial analyst who travels three times a week. “Before, you needed connections. Now, you book, you board, you arrive.”

A Line Once Hindered by Middlemen

The Lagos–Ibadan railway, inaugurated as a flagship infrastructure project under the administration of former President Buhari was designed to ease pressure on the congested Lagos–Ibadan Expressway and deepen economic integration across the South-West.

However, in its early phases, passengers frequently complained of informal ticket rackets. Allegations included bulk-buying by intermediaries and artificial scarcity that forced travellers to pay inflated prices for seats on high-demand trains.

Industry observers say such practices undermined the railway’s credibility as a mass transit solution. “Transport systems thrive on predictability and fairness,” said a transport economist “Once access is perceived as compromised, commuters revert to road transport despite the risks and delays.”

Enforcement and Digitisation

Since assuming oversight responsibilities within the sector, Opeifa has reportedly intensified internal monitoring and strengthened digital ticketing protocols. Railway officials, speaking on condition of anonymity, said stricter verification processes and disciplinary measures against errant staff have curtailed unauthorised ticket sales.

Although the Nigerian Railway Corporation has not released detailed enforcement data, anecdotal evidence from regular commuters points to shorter queues, smoother boarding procedures and fewer last-minute cancellations.

For professionals with flexible work schedules, the improvement has been significant. The average journey time of about two to three hours—depending on the service type—now compares favourably with unpredictable road travel, which can take considerably longer during peak traffic.

Changing Urban Dynamics

Property agents in Ibadan report a modest rise in enquiries from Lagos-based workers seeking more affordable housing. Rents in many parts of Ibadan remain significantly lower than comparable neighbourhoods in Lagos, offering relief to households grappling with inflationary pressures.

“Rail reliability changes everything,” said Funke Adebayo, a real estate consultant in Ibadan. “When people trust the timetable, they are more willing to relocate.”

Economists caution, however, that long-term success will depend on consistent maintenance, adequate security along the corridor and transparent ticketing systems. Any return to informal practices could quickly erode recent gains.

The Lagos–Ibadan corridor is widely regarded as a litmus test for Nigeria’s broader rail ambitions. With additional standard gauge projects planned or underway nationwide, policymakers face mounting pressure to ensure that infrastructure investments translate into reliable public service delivery.

For now, passengers remain cautiously optimistic.

“It feels more organised,” Bamidele said while disembarking at Mobolaji Johnson Station in Lagos. “If this standard is sustained, rail can genuinely compete with road transport.”

Nigeria agree, the real challenge lies not just in laying tracks, but in sustaining public trust.

Continue Reading

news

Breaking : Finance Ministry Shake-Up: Tinubu Nominates Oyedele, Says Onanuga

Published

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President Bola Tinubu has nominated the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Dr. Taiwo Oyedele, as the Minister of State for Finance.

Oyedele replaces Dr. Doris Anite-Uzoka, who has been redeployed to the Ministry of Budget and National Planning as Minister of State, her third portfolio in the administration.

The President on Tuesday conveyed Oyedele’s nomination to the Senate for confirmation in a letter to the Senate President, Godswill Akpabio, according to a statement by his Special Adviser on Information and Strategy, Bayo Onanuga, on Tuesday.

Until Tinubu nominated him as a minister, Oyedele from Ikaram, Akoko, Ondo State, was the chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, which overhauled Nigeria’s tax system.

The 50-year-old is an economist, accountant, and public policy expert who led the comprehensive overhaul of Nigeria’s tax system through the Presidential Committee on Fiscal Policy and Tax Reforms.

The committee, inaugurated in August 2023, delivered four executive bills that consolidated over 60 taxes into fewer than 10 statutes and introduced significant reforms, including zero income tax for Nigerians earning N800,000 annually or less.

The Tax Reform Acts, which became effective on January 1, 2026, also exempted small businesses with turnover below N50m from company income tax, capital gains tax, and development levy.

Other provisions include a 50 per cent tax deduction for companies hiring new workers for three years, a 50 per cent deduction for wage increases to the lowest-paid employees, and a five-year corporate tax holiday for agricultural enterprises.

Oyedele attended Yaba College of Technology, where he obtained a Higher National Diploma in Accountancy and Finance, before proceeding to Oxford Brookes University for a BSc in Applied Accounting.

He also completed executive education programmes at the London School of Economics, Yale University, the Gordon Institute of Business Science, and the Harvard Kennedy School.

Oyedele spent 22 years at PricewaterhouseCoopers, joining in 2001 and rising to become the Fiscal Policy Partner and Africa Tax Leader before his appointment to head the tax reform committee.

He is currently a professor at Babcock University in Ogun State and a visiting scholar at the Lagos Business School.

As Minister of State for Finance, Oyedele is expected to oversee the implementation of the tax reforms he championed, particularly as the government seeks to improve revenue generation and deepen economic reforms.

Anite-Uzoka, who is being redeployed to the Ministry of Budget and National Planning, previously served as Minister of State for Industry, Trade and Investment before her appointment as Minister of State for Finance.

The Senate is expected to screen and confirm Oyedele’s nomination in the coming weeks, following which he will be sworn in to assume his ministerial duties.

The Finance Ministry, currently led by Wale Edun as substantive minister, oversees fiscal policy, revenue mobilisation, debt management, and economic planning.

Continue Reading

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Breaking : ICPC Seizes Security Documents, Wiretapping Devices During Search of El-Rufai’s Home

Published

on

We got warrant to detain ex-governor for 14 days
He declined to cooperate with investigators
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) said it recovered equipment allegedly capable of tapping conversations and sensitive security documents from the Abuja home of former Governor Nasir el-Rufai.

The commission also said it obtained a legal order from a Magistrate Court in Bwari in the Federal Capital Territory (FCT) to detain el-Rufai for 14 days, which is due to expire on Thursday.

It denied allegations of arbitrary detention and repression of the former governor.

The commission has asked the High Court of Justice of the Federal Capital Territory to dismiss el-Rufai’s application alleging violation of his fundamental human rights.

ICPC said the former governor has corruption allegations to answer, including questions over the whereabouts of €1.4 million; 180 suspicious payments totalling N2,158,799,199 from a Consolidated Revenue Account linked to Kaduna State’s IGR account; and transfers to undisclosed accounts amounting to N428,122,180.18, among others.

The commission confirmed that an aide of the former governor, allegedly linked to the matter, has left the country.

ICPC made the claims in an affidavit deposed to by a Litigation Officer, David Efuk, before the High Court of Justice of the Federal Capital Territory, where el-Rufai is seeking redress and release from detention.

The commission said all the suspected items were retrieved in the presence of the former governor’s wife, Hadiza, and his son, Mohammed.

The agency also alleged that the former governor declined to cooperate with investigators, opting to remain silent until he is brought before a court.

It added that an aide of the former minister linked to the investigation had escaped from the country.

The anti-graft body made the claims in processes filed before the court, seeking the dismissal of the fundamental human rights enforcement suit.

ICPC said: “On the 18th day of February, 2026, at about 7 pm, the applicant was released to the DSS by the EFCC to be handed over to the commission.

“On the 19th day of February, 2026, the commission obtained a remand order to keep the applicant in its custody for 14 days, which will lapse on the 5th day of March, 2026.

“The commission has since confronted the applicant with the retrieved documents during its preliminary investigation activities, but the applicant has refused to respond to interviews to date.

“On the 19th day of February, 2026, the commission executed a duly signed search warrant on the premises of the applicant at No. 12 Mambila Street, Aso Drive, Asokoro District, Abuja.

“During the search, which was witnessed by the applicant’s wife, Hadiza Isma el-Rufai, and his son, Hon. Mohammed Bello el-Rufai, the commission retrieved sensitive security documents capable of compromising national security.

“The applicant, on national television (Arise Television), admitted to tapping telephone conversations of the National Security Adviser, Mallam Nuhu Ribadu.

“During the search operations, the commission retrieved electronic magnetic equipment allegedly capable of tapping conversations.

“He was asked to give consent to enable the commission access the equipment, but he refused. A copy of the consent form is attached and marked Exhibit ICPC 5.

“The search also retrieved sensitive security documents of various security agencies of the government.

“The applicant is also allegedly threatening likely prosecution witnesses, and one such witness has written to the commission seeking protection. A copy of the letter is attached and marked Exhibit ICPC 6.”

The ICPC insisted that el-Rufai was lawfully detained pursuant to a remand order issued by a Magistrate Court in Bwari, FCT.

It said the court granted the commission 14 days to keep him in custody to enable it conduct investigations.

It said: “Contrary to the depositions of the applicant in his supporting affidavit, he is lawfully held in the custody of the commission, and the commission has not breached any of his fundamental rights as claimed.

“ICPC does not arbitrarily arrest or detain suspects unlawfully, nor pose any physical danger to them.

“ICPC’s mandate is to investigate cases of corruption, abuse of office and related offences, and where there is prima facie evidence, prosecute alleged offenders.

“ICPC can only charge a person to court when investigations are concluded.

“Where investigation is ongoing, ICPC may request an alleged offender to report to its office daily until investigations are concluded or, where necessary, remand the alleged offender pending conclusion of investigations.

“ICPC undertakes to draw up charges against the applicant before the 5th of March, 2026, when the detention order will lapse.

“It is in the interest of justice to dismiss his application for lacking merit and allow the commission to investigate the allegations thoroughly in the public interest.”

ICPC said it followed due process in inviting el-Rufai based on a petition alleging corrupt practices.

It said: “The commission received a petition against the applicant, a former two-term Governor of Kaduna State.

“Thereafter, the commission began preliminary investigations into the allegations contained in the petition and retrieved relevant documents from banks and other government institutions.

“Upon conclusion of preliminary investigations, the commission made several efforts to invite the applicant to confront him with documents retrieved during the investigation.

“Every attempt to invite the applicant via formal letters proved abortive.

“On the 5th day of February, 2026, the commission received information about the applicant’s arrival at the Nnamdi Azikiwe International Airport, Abuja.

“Operatives of the Department of State Services were contacted to assist in arresting him, but the attempt was unsuccessful.

“The commission later located the applicant’s residence at Aso Drive, Abuja, and formally served him with an invitation letter to appear before the commission on the 13th day of February, 2026, at 10am.

“The applicant, through his legal representatives, requested to honour the invitation on the 18th day of February, 2026.

“Before the agreed date, he had honoured an invitation by the Economic and Financial Crimes Commission (EFCC) and was detained.

“He was later granted administrative bail but was unable to meet the conditions and remained in EFCC custody.”

The petition against el-Rufai alleged:

Serious discrepancies in the state’s debt profile.

Cash withdrawals in foreign currency amounting to €1.4 million, with the purpose allegedly unclear.

Alleged diversion of public revenue by failure to remit funds into the TSA account.

Use of a debit card on a revenue bank account, with total transactions amounting to N721,672,854.88.

Alleged violation of Section 3.3.1 of Kaduna State Financial Policies and Procedures Manual 2016.

Diversion of funds to individuals and companies amounting to N393,752,670.05.

Transfers to undisclosed accounts totalling N428,122,180.18.

Suspicious payments (180) amounting to N2,158,799,199 from a Consolidated Revenue Account linked to Kaduna State IGR.

The petition further alleged: “The past administration collected about N98.912 billion as domestic loans for developmental projects in Kaduna State.

“The past administration also collected over $7,366,070,222.5 as foreign loans to be serviced by the people of Kaduna State.

“Our findings showed that while the Kaduna State Government between 2015 and 2023 embarked on ambitious projects, some were allegedly executed in contravention of procurement laws.

“It is alleged that only a few projects were completed, while several were abandoned despite full payment to contractors.

“Of concern was the alleged disregard for the Kaduna State Public Procurement Law, 2016.”

In a statement on oath to the ICPC, el-Rufai said he was being persecuted as an opposition figure.

He stated that he would exercise his right to silence until arraigned before a court.

He said: “I am a leading member of the African Democratic Congress (ADC), which I consider the only surviving opposition party in Nigeria, and that is the real reason I am being investigated.

“Regarding this question and any other questions, I have, on the advice of counsel, decided to exercise my right to silence.

“I believe that after nearly two years of intensive investigation, the ICPC should present its findings before a judicial tribunal and not to me.

“I will respond to any allegations only in a court of law. I do not believe these investigations amount to law enforcement.

“This is political persecution which only a judge can decide upon.”

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Opeifa Defends Rail Reforms, Unveils Nationwide Expansion Roadmap

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Opeifa maintained that derailments are not peculiar to Nigeria, noting that such incidents occur across advanced rail systems globally.

“Derailments are regular occurrences in the rail sector worldwide. In February alone, there were incidents in countries like Britain and others. Around the same time we experienced one, there were multiple derailments across the world,” he said.

He disclosed that in 2025, Nigeria recorded three major derailments:
• August 26 at Asham in Kaduna State
• November 1 at Abraka on the Warri–Itakpe line
• November 8 at Agbor on the same corridor

He said the NRC responded swiftly, restoring services within 24 hours in one case, while others were resolved within 21 and 28 days respectively.

Opeifa stressed that derailments can result from factors such as weather conditions, signal glitches, human error, speeding, or aging infrastructure, but noted that in Nigeria’s recent cases, there were no fatalities.

“These incidents are preventable and efforts are ongoing to minimize them. However, they should not be seen as major setbacks to the overall progress of the railway system,” he said.

On Allegations of Mismanagement

Addressing allegations of financial mismanagement within the corporation, Opeifa declined detailed comments, citing ongoing legal processes.

“When a matter is in court, it is sub judice. Allegations of corruption or mismanagement should be handled by the appropriate authorities,” he stated.

He reiterated that his priority is to reposition the NRC in line with global best practices and ensure efficient rail services for Nigerians.

Expansion, Upgrades and National Connectivity

The NRC boss said efforts are underway to restore damaged coaches and upgrade infrastructure using local engineers and technicians.

“We are bringing back the lines and retrofitting coaches. The Warri–Itakpe line is operational. The Abuja–Kaduna line is running, and we are increasing trips from two to three,” he said.

On long-term plans, Opeifa disclosed that the NRC roadmap envisions rail connectivity across major cities nationwide, subject to funding and phased execution.

He dismissed claims of abandoned projects, explaining that rail developments are capital-intensive and implemented in phases based on available resources.

He cited progress on the Lagos–Ibadan corridor—part of the larger Lagos–Kano project—as well as ongoing work on the Kano–Maradi line linking key northern cities.

Lagos–South-East, Port Connections in View

Opeifa also highlighted plans to expand connectivity between southern ports and inland cities. These include proposed links from Warri to Abuja and from Lekki Deep Sea Port to Kajola, Benin, Onitsha, and Aba, enabling both passenger and cargo movement.

Toward Modern Signaling and Faster Trains

On modernization, he said Nigeria is gradually upgrading from older narrow-gauge systems to standard-gauge infrastructure with improved signaling technology.

He noted that metro rail projects in Kaduna, Kano, and Lagos are being developed with higher signaling standards, positioning the country for faster and more efficient train services in the coming years.

“We are not yet at the highest global level, but we are moving steadily upward,” Opeifa said.

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Ticket Reform Boosts Confidence in Lagos–Ibadan Rail Service, Says Opeifa

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A quiet transformation is reshaping the daily commute between Nigeria’s commercial hub and the historic city of Ibadan. Passengers on the Lagos–Ibadan standard gauge corridor say services have become more efficient and predictable following a clampdown on ticket racketeering led by Kayode Opeifa

The renewed confidence in the rail line linking Lagos and  is influencing residential and employment decisions among middle-income earners who once considered daily intercity commuting unrealistic.

“It is now possible to live in Ibadan and work in Lagos without the daily anxiety of securing a ticket,” said Adewale Bamidele, a financial analyst who travels three times a week. “Before, you needed connections. Now, you book, you board, you arrive.”

A Line Once Hindered by Middlemen

The Lagos–Ibadan railway, inaugurated as a flagship infrastructure project under the administration of former President Buhari was designed to ease pressure on the congested Lagos–Ibadan Expressway and deepen economic integration across the South-West.

However, in its early phases, passengers frequently complained of informal ticket rackets. Allegations included bulk-buying by intermediaries and artificial scarcity that forced travellers to pay inflated prices for seats on high-demand trains.

Industry observers say such practices undermined the railway’s credibility as a mass transit solution. “Transport systems thrive on predictability and fairness,” said a transport economist “Once access is perceived as compromised, commuters revert to road transport despite the risks and delays.”

Enforcement and Digitisation

Since assuming oversight responsibilities within the sector, Opeifa has reportedly intensified internal monitoring and strengthened digital ticketing protocols. Railway officials, speaking on condition of anonymity, said stricter verification processes and disciplinary measures against errant staff have curtailed unauthorised ticket sales.

Although the Nigerian Railway Corporation has not released detailed enforcement data, anecdotal evidence from regular commuters points to shorter queues, smoother boarding procedures and fewer last-minute cancellations.

For professionals with flexible work schedules, the improvement has been significant. The average journey time of about two to three hours—depending on the service type—now compares favourably with unpredictable road travel, which can take considerably longer during peak traffic.

Changing Urban Dynamics

Property agents in Ibadan report a modest rise in enquiries from Lagos-based workers seeking more affordable housing. Rents in many parts of Ibadan remain significantly lower than comparable neighbourhoods in Lagos, offering relief to households grappling with inflationary pressures.

“Rail reliability changes everything,” said Funke Adebayo, a real estate consultant in Ibadan. “When people trust the timetable, they are more willing to relocate.”

Economists caution, however, that long-term success will depend on consistent maintenance, adequate security along the corridor and transparent ticketing systems. Any return to informal practices could quickly erode recent gains.

The Lagos–Ibadan corridor is widely regarded as a litmus test for Nigeria’s broader rail ambitions. With additional standard gauge projects planned or underway nationwide, policymakers face mounting pressure to ensure that infrastructure investments translate into reliable public service delivery.

For now, passengers remain cautiously optimistic.

“It feels more organised,” Bamidele said while disembarking at Mobolaji Johnson Station in Lagos. “If this standard is sustained, rail can genuinely compete with road transport.”

Nigeria agree, the real challenge lies not just in laying tracks, but in sustaining public trust.

Continue Reading

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Breaking : Finance Ministry Shake-Up: Tinubu Nominates Oyedele, Says Onanuga

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President Bola Tinubu has nominated the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Dr. Taiwo Oyedele, as the Minister of State for Finance.

Oyedele replaces Dr. Doris Anite-Uzoka, who has been redeployed to the Ministry of Budget and National Planning as Minister of State, her third portfolio in the administration.

The President on Tuesday conveyed Oyedele’s nomination to the Senate for confirmation in a letter to the Senate President, Godswill Akpabio, according to a statement by his Special Adviser on Information and Strategy, Bayo Onanuga, on Tuesday.

Until Tinubu nominated him as a minister, Oyedele from Ikaram, Akoko, Ondo State, was the chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, which overhauled Nigeria’s tax system.

The 50-year-old is an economist, accountant, and public policy expert who led the comprehensive overhaul of Nigeria’s tax system through the Presidential Committee on Fiscal Policy and Tax Reforms.

The committee, inaugurated in August 2023, delivered four executive bills that consolidated over 60 taxes into fewer than 10 statutes and introduced significant reforms, including zero income tax for Nigerians earning N800,000 annually or less.

The Tax Reform Acts, which became effective on January 1, 2026, also exempted small businesses with turnover below N50m from company income tax, capital gains tax, and development levy.

Other provisions include a 50 per cent tax deduction for companies hiring new workers for three years, a 50 per cent deduction for wage increases to the lowest-paid employees, and a five-year corporate tax holiday for agricultural enterprises.

Oyedele attended Yaba College of Technology, where he obtained a Higher National Diploma in Accountancy and Finance, before proceeding to Oxford Brookes University for a BSc in Applied Accounting.

He also completed executive education programmes at the London School of Economics, Yale University, the Gordon Institute of Business Science, and the Harvard Kennedy School.

Oyedele spent 22 years at PricewaterhouseCoopers, joining in 2001 and rising to become the Fiscal Policy Partner and Africa Tax Leader before his appointment to head the tax reform committee.

He is currently a professor at Babcock University in Ogun State and a visiting scholar at the Lagos Business School.

As Minister of State for Finance, Oyedele is expected to oversee the implementation of the tax reforms he championed, particularly as the government seeks to improve revenue generation and deepen economic reforms.

Anite-Uzoka, who is being redeployed to the Ministry of Budget and National Planning, previously served as Minister of State for Industry, Trade and Investment before her appointment as Minister of State for Finance.

The Senate is expected to screen and confirm Oyedele’s nomination in the coming weeks, following which he will be sworn in to assume his ministerial duties.

The Finance Ministry, currently led by Wale Edun as substantive minister, oversees fiscal policy, revenue mobilisation, debt management, and economic planning.

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Opeifa Defends Rail Reforms, Unveils Nationwide Expansion Roadmap

Published

on

Opeifa maintained that derailments are not peculiar to Nigeria, noting that such incidents occur across advanced rail systems globally.

“Derailments are regular occurrences in the rail sector worldwide. In February alone, there were incidents in countries like Britain and others. Around the same time we experienced one, there were multiple derailments across the world,” he said.

He disclosed that in 2025, Nigeria recorded three major derailments:
• August 26 at Asham in Kaduna State
• November 1 at Abraka on the Warri–Itakpe line
• November 8 at Agbor on the same corridor

He said the NRC responded swiftly, restoring services within 24 hours in one case, while others were resolved within 21 and 28 days respectively.

Opeifa stressed that derailments can result from factors such as weather conditions, signal glitches, human error, speeding, or aging infrastructure, but noted that in Nigeria’s recent cases, there were no fatalities.

“These incidents are preventable and efforts are ongoing to minimize them. However, they should not be seen as major setbacks to the overall progress of the railway system,” he said.

On Allegations of Mismanagement

Addressing allegations of financial mismanagement within the corporation, Opeifa declined detailed comments, citing ongoing legal processes.

“When a matter is in court, it is sub judice. Allegations of corruption or mismanagement should be handled by the appropriate authorities,” he stated.

He reiterated that his priority is to reposition the NRC in line with global best practices and ensure efficient rail services for Nigerians.

Expansion, Upgrades and National Connectivity

The NRC boss said efforts are underway to restore damaged coaches and upgrade infrastructure using local engineers and technicians.

“We are bringing back the lines and retrofitting coaches. The Warri–Itakpe line is operational. The Abuja–Kaduna line is running, and we are increasing trips from two to three,” he said.

On long-term plans, Opeifa disclosed that the NRC roadmap envisions rail connectivity across major cities nationwide, subject to funding and phased execution.

He dismissed claims of abandoned projects, explaining that rail developments are capital-intensive and implemented in phases based on available resources.

He cited progress on the Lagos–Ibadan corridor—part of the larger Lagos–Kano project—as well as ongoing work on the Kano–Maradi line linking key northern cities.

Lagos–South-East, Port Connections in View

Opeifa also highlighted plans to expand connectivity between southern ports and inland cities. These include proposed links from Warri to Abuja and from Lekki Deep Sea Port to Kajola, Benin, Onitsha, and Aba, enabling both passenger and cargo movement.

Toward Modern Signaling and Faster Trains

On modernization, he said Nigeria is gradually upgrading from older narrow-gauge systems to standard-gauge infrastructure with improved signaling technology.

He noted that metro rail projects in Kaduna, Kano, and Lagos are being developed with higher signaling standards, positioning the country for faster and more efficient train services in the coming years.

“We are not yet at the highest global level, but we are moving steadily upward,” Opeifa said.

Continue Reading

news

Ticket Reform Boosts Confidence in Lagos–Ibadan Rail Service, Says Opeifa

Published

on

A quiet transformation is reshaping the daily commute between Nigeria’s commercial hub and the historic city of Ibadan. Passengers on the Lagos–Ibadan standard gauge corridor say services have become more efficient and predictable following a clampdown on ticket racketeering led by Kayode Opeifa

The renewed confidence in the rail line linking Lagos and  is influencing residential and employment decisions among middle-income earners who once considered daily intercity commuting unrealistic.

“It is now possible to live in Ibadan and work in Lagos without the daily anxiety of securing a ticket,” said Adewale Bamidele, a financial analyst who travels three times a week. “Before, you needed connections. Now, you book, you board, you arrive.”

A Line Once Hindered by Middlemen

The Lagos–Ibadan railway, inaugurated as a flagship infrastructure project under the administration of former President Buhari was designed to ease pressure on the congested Lagos–Ibadan Expressway and deepen economic integration across the South-West.

However, in its early phases, passengers frequently complained of informal ticket rackets. Allegations included bulk-buying by intermediaries and artificial scarcity that forced travellers to pay inflated prices for seats on high-demand trains.

Industry observers say such practices undermined the railway’s credibility as a mass transit solution. “Transport systems thrive on predictability and fairness,” said a transport economist “Once access is perceived as compromised, commuters revert to road transport despite the risks and delays.”

Enforcement and Digitisation

Since assuming oversight responsibilities within the sector, Opeifa has reportedly intensified internal monitoring and strengthened digital ticketing protocols. Railway officials, speaking on condition of anonymity, said stricter verification processes and disciplinary measures against errant staff have curtailed unauthorised ticket sales.

Although the Nigerian Railway Corporation has not released detailed enforcement data, anecdotal evidence from regular commuters points to shorter queues, smoother boarding procedures and fewer last-minute cancellations.

For professionals with flexible work schedules, the improvement has been significant. The average journey time of about two to three hours—depending on the service type—now compares favourably with unpredictable road travel, which can take considerably longer during peak traffic.

Changing Urban Dynamics

Property agents in Ibadan report a modest rise in enquiries from Lagos-based workers seeking more affordable housing. Rents in many parts of Ibadan remain significantly lower than comparable neighbourhoods in Lagos, offering relief to households grappling with inflationary pressures.

“Rail reliability changes everything,” said Funke Adebayo, a real estate consultant in Ibadan. “When people trust the timetable, they are more willing to relocate.”

Economists caution, however, that long-term success will depend on consistent maintenance, adequate security along the corridor and transparent ticketing systems. Any return to informal practices could quickly erode recent gains.

The Lagos–Ibadan corridor is widely regarded as a litmus test for Nigeria’s broader rail ambitions. With additional standard gauge projects planned or underway nationwide, policymakers face mounting pressure to ensure that infrastructure investments translate into reliable public service delivery.

For now, passengers remain cautiously optimistic.

“It feels more organised,” Bamidele said while disembarking at Mobolaji Johnson Station in Lagos. “If this standard is sustained, rail can genuinely compete with road transport.”

Nigeria agree, the real challenge lies not just in laying tracks, but in sustaining public trust.

Continue Reading

news

Breaking : Finance Ministry Shake-Up: Tinubu Nominates Oyedele, Says Onanuga

Published

on

President Bola Tinubu has nominated the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Dr. Taiwo Oyedele, as the Minister of State for Finance.

Oyedele replaces Dr. Doris Anite-Uzoka, who has been redeployed to the Ministry of Budget and National Planning as Minister of State, her third portfolio in the administration.

The President on Tuesday conveyed Oyedele’s nomination to the Senate for confirmation in a letter to the Senate President, Godswill Akpabio, according to a statement by his Special Adviser on Information and Strategy, Bayo Onanuga, on Tuesday.

Until Tinubu nominated him as a minister, Oyedele from Ikaram, Akoko, Ondo State, was the chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, which overhauled Nigeria’s tax system.

The 50-year-old is an economist, accountant, and public policy expert who led the comprehensive overhaul of Nigeria’s tax system through the Presidential Committee on Fiscal Policy and Tax Reforms.

The committee, inaugurated in August 2023, delivered four executive bills that consolidated over 60 taxes into fewer than 10 statutes and introduced significant reforms, including zero income tax for Nigerians earning N800,000 annually or less.

The Tax Reform Acts, which became effective on January 1, 2026, also exempted small businesses with turnover below N50m from company income tax, capital gains tax, and development levy.

Other provisions include a 50 per cent tax deduction for companies hiring new workers for three years, a 50 per cent deduction for wage increases to the lowest-paid employees, and a five-year corporate tax holiday for agricultural enterprises.

Oyedele attended Yaba College of Technology, where he obtained a Higher National Diploma in Accountancy and Finance, before proceeding to Oxford Brookes University for a BSc in Applied Accounting.

He also completed executive education programmes at the London School of Economics, Yale University, the Gordon Institute of Business Science, and the Harvard Kennedy School.

Oyedele spent 22 years at PricewaterhouseCoopers, joining in 2001 and rising to become the Fiscal Policy Partner and Africa Tax Leader before his appointment to head the tax reform committee.

He is currently a professor at Babcock University in Ogun State and a visiting scholar at the Lagos Business School.

As Minister of State for Finance, Oyedele is expected to oversee the implementation of the tax reforms he championed, particularly as the government seeks to improve revenue generation and deepen economic reforms.

Anite-Uzoka, who is being redeployed to the Ministry of Budget and National Planning, previously served as Minister of State for Industry, Trade and Investment before her appointment as Minister of State for Finance.

The Senate is expected to screen and confirm Oyedele’s nomination in the coming weeks, following which he will be sworn in to assume his ministerial duties.

The Finance Ministry, currently led by Wale Edun as substantive minister, oversees fiscal policy, revenue mobilisation, debt management, and economic planning.

Continue Reading

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Opeifa Defends Rail Reforms, Unveils Nationwide Expansion Roadmap

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Opeifa maintained that derailments are not peculiar to Nigeria, noting that such incidents occur across advanced rail systems globally.

“Derailments are regular occurrences in the rail sector worldwide. In February alone, there were incidents in countries like Britain and others. Around the same time we experienced one, there were multiple derailments across the world,” he said.

He disclosed that in 2025, Nigeria recorded three major derailments:
• August 26 at Asham in Kaduna State
• November 1 at Abraka on the Warri–Itakpe line
• November 8 at Agbor on the same corridor

He said the NRC responded swiftly, restoring services within 24 hours in one case, while others were resolved within 21 and 28 days respectively.

Opeifa stressed that derailments can result from factors such as weather conditions, signal glitches, human error, speeding, or aging infrastructure, but noted that in Nigeria’s recent cases, there were no fatalities.

“These incidents are preventable and efforts are ongoing to minimize them. However, they should not be seen as major setbacks to the overall progress of the railway system,” he said.

On Allegations of Mismanagement

Addressing allegations of financial mismanagement within the corporation, Opeifa declined detailed comments, citing ongoing legal processes.

“When a matter is in court, it is sub judice. Allegations of corruption or mismanagement should be handled by the appropriate authorities,” he stated.

He reiterated that his priority is to reposition the NRC in line with global best practices and ensure efficient rail services for Nigerians.

Expansion, Upgrades and National Connectivity

The NRC boss said efforts are underway to restore damaged coaches and upgrade infrastructure using local engineers and technicians.

“We are bringing back the lines and retrofitting coaches. The Warri–Itakpe line is operational. The Abuja–Kaduna line is running, and we are increasing trips from two to three,” he said.

On long-term plans, Opeifa disclosed that the NRC roadmap envisions rail connectivity across major cities nationwide, subject to funding and phased execution.

He dismissed claims of abandoned projects, explaining that rail developments are capital-intensive and implemented in phases based on available resources.

He cited progress on the Lagos–Ibadan corridor—part of the larger Lagos–Kano project—as well as ongoing work on the Kano–Maradi line linking key northern cities.

Lagos–South-East, Port Connections in View

Opeifa also highlighted plans to expand connectivity between southern ports and inland cities. These include proposed links from Warri to Abuja and from Lekki Deep Sea Port to Kajola, Benin, Onitsha, and Aba, enabling both passenger and cargo movement.

Toward Modern Signaling and Faster Trains

On modernization, he said Nigeria is gradually upgrading from older narrow-gauge systems to standard-gauge infrastructure with improved signaling technology.

He noted that metro rail projects in Kaduna, Kano, and Lagos are being developed with higher signaling standards, positioning the country for faster and more efficient train services in the coming years.

“We are not yet at the highest global level, but we are moving steadily upward,” Opeifa said.

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Ticket Reform Boosts Confidence in Lagos–Ibadan Rail Service, Says Opeifa

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A quiet transformation is reshaping the daily commute between Nigeria’s commercial hub and the historic city of Ibadan. Passengers on the Lagos–Ibadan standard gauge corridor say services have become more efficient and predictable following a clampdown on ticket racketeering led by Kayode Opeifa

The renewed confidence in the rail line linking Lagos and  is influencing residential and employment decisions among middle-income earners who once considered daily intercity commuting unrealistic.

“It is now possible to live in Ibadan and work in Lagos without the daily anxiety of securing a ticket,” said Adewale Bamidele, a financial analyst who travels three times a week. “Before, you needed connections. Now, you book, you board, you arrive.”

A Line Once Hindered by Middlemen

The Lagos–Ibadan railway, inaugurated as a flagship infrastructure project under the administration of former President Buhari was designed to ease pressure on the congested Lagos–Ibadan Expressway and deepen economic integration across the South-West.

However, in its early phases, passengers frequently complained of informal ticket rackets. Allegations included bulk-buying by intermediaries and artificial scarcity that forced travellers to pay inflated prices for seats on high-demand trains.

Industry observers say such practices undermined the railway’s credibility as a mass transit solution. “Transport systems thrive on predictability and fairness,” said a transport economist “Once access is perceived as compromised, commuters revert to road transport despite the risks and delays.”

Enforcement and Digitisation

Since assuming oversight responsibilities within the sector, Opeifa has reportedly intensified internal monitoring and strengthened digital ticketing protocols. Railway officials, speaking on condition of anonymity, said stricter verification processes and disciplinary measures against errant staff have curtailed unauthorised ticket sales.

Although the Nigerian Railway Corporation has not released detailed enforcement data, anecdotal evidence from regular commuters points to shorter queues, smoother boarding procedures and fewer last-minute cancellations.

For professionals with flexible work schedules, the improvement has been significant. The average journey time of about two to three hours—depending on the service type—now compares favourably with unpredictable road travel, which can take considerably longer during peak traffic.

Changing Urban Dynamics

Property agents in Ibadan report a modest rise in enquiries from Lagos-based workers seeking more affordable housing. Rents in many parts of Ibadan remain significantly lower than comparable neighbourhoods in Lagos, offering relief to households grappling with inflationary pressures.

“Rail reliability changes everything,” said Funke Adebayo, a real estate consultant in Ibadan. “When people trust the timetable, they are more willing to relocate.”

Economists caution, however, that long-term success will depend on consistent maintenance, adequate security along the corridor and transparent ticketing systems. Any return to informal practices could quickly erode recent gains.

The Lagos–Ibadan corridor is widely regarded as a litmus test for Nigeria’s broader rail ambitions. With additional standard gauge projects planned or underway nationwide, policymakers face mounting pressure to ensure that infrastructure investments translate into reliable public service delivery.

For now, passengers remain cautiously optimistic.

“It feels more organised,” Bamidele said while disembarking at Mobolaji Johnson Station in Lagos. “If this standard is sustained, rail can genuinely compete with road transport.”

Nigeria agree, the real challenge lies not just in laying tracks, but in sustaining public trust.

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Breaking : Finance Ministry Shake-Up: Tinubu Nominates Oyedele, Says Onanuga

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President Bola Tinubu has nominated the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Dr. Taiwo Oyedele, as the Minister of State for Finance.

Oyedele replaces Dr. Doris Anite-Uzoka, who has been redeployed to the Ministry of Budget and National Planning as Minister of State, her third portfolio in the administration.

The President on Tuesday conveyed Oyedele’s nomination to the Senate for confirmation in a letter to the Senate President, Godswill Akpabio, according to a statement by his Special Adviser on Information and Strategy, Bayo Onanuga, on Tuesday.

Until Tinubu nominated him as a minister, Oyedele from Ikaram, Akoko, Ondo State, was the chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, which overhauled Nigeria’s tax system.

The 50-year-old is an economist, accountant, and public policy expert who led the comprehensive overhaul of Nigeria’s tax system through the Presidential Committee on Fiscal Policy and Tax Reforms.

The committee, inaugurated in August 2023, delivered four executive bills that consolidated over 60 taxes into fewer than 10 statutes and introduced significant reforms, including zero income tax for Nigerians earning N800,000 annually or less.

The Tax Reform Acts, which became effective on January 1, 2026, also exempted small businesses with turnover below N50m from company income tax, capital gains tax, and development levy.

Other provisions include a 50 per cent tax deduction for companies hiring new workers for three years, a 50 per cent deduction for wage increases to the lowest-paid employees, and a five-year corporate tax holiday for agricultural enterprises.

Oyedele attended Yaba College of Technology, where he obtained a Higher National Diploma in Accountancy and Finance, before proceeding to Oxford Brookes University for a BSc in Applied Accounting.

He also completed executive education programmes at the London School of Economics, Yale University, the Gordon Institute of Business Science, and the Harvard Kennedy School.

Oyedele spent 22 years at PricewaterhouseCoopers, joining in 2001 and rising to become the Fiscal Policy Partner and Africa Tax Leader before his appointment to head the tax reform committee.

He is currently a professor at Babcock University in Ogun State and a visiting scholar at the Lagos Business School.

As Minister of State for Finance, Oyedele is expected to oversee the implementation of the tax reforms he championed, particularly as the government seeks to improve revenue generation and deepen economic reforms.

Anite-Uzoka, who is being redeployed to the Ministry of Budget and National Planning, previously served as Minister of State for Industry, Trade and Investment before her appointment as Minister of State for Finance.

The Senate is expected to screen and confirm Oyedele’s nomination in the coming weeks, following which he will be sworn in to assume his ministerial duties.

The Finance Ministry, currently led by Wale Edun as substantive minister, oversees fiscal policy, revenue mobilisation, debt management, and economic planning.

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