The House of Representatives has expressed optimism that the appointment of Taiwo Oyedele as Minister of State for Finance will help resolve the persistent problem of zero capital releases to Ministries, Departments and Agencies (MDAs), a situation that has disrupted project execution and triggered protests by contractors.

The optimism was conveyed by the Deputy Spokesperson of the House, Philip Agbese, who spoke with journalists in Abuja on Wednesday.
President Bola Ahmed Tinubu on Tuesday nominated Oyedele to replace Doris Uzoka-Anite, who has been redeployed as Minister of State for Budget and National Planning—her third portfolio under the current administration.
The nomination has been forwarded to the Senate for confirmation.

Agbese said Oyedele’s appointment comes at a critical time when contractors have raised serious concerns over stalled payments and the non-release of capital funds to MDAs.

He noted that the issue of “zero capital releases” recently triggered protests by indigenous contractors in Abuja, many of whom decried delays in the payment of verified certificates for completed projects.

According to the lawmaker, restoring confidence between contractors and public institutions must be treated as a priority. He added that fiscal discipline, improved transparency and strengthened payment systems are essential to ensuring that capital projects progress as planned.

Agbese said Oyedele’s appointment would bring “fresh energy, experience and a reform-minded approach” to the Ministry of Finance, citing his background in fiscal policy reform, tax administration and institutional strengthening as assets capable of repositioning the ministry.

He noted that the incoming minister’s credibility and expertise would help streamline payment processes, enhance coordination between the Ministry of Finance, the Budget Office and other relevant agencies, and reduce delays in the release of funds.

The lawmakers’ optimism comes amid broader fiscal concerns raised during recent budget defence sessions at the National Assembly.

During the hearings, several ministries disclosed that despite reported revenue gains and borrowing efforts, capital funds had been largely unavailable. Major MDAs informed lawmakers that they had received little or none of their approved capital allocations under the 2025 budget, raising concerns about the government’s capacity to implement critical infrastructure and development projects.

For instance, the Ministry of Health reported receiving only a fraction of its capital allocation, leaving hospital upgrades and key programmes underfunded.

Similarly, the Ministry of Interior and the Ministry of Solid Minerals Development indicated that their capital budgets had either been stalled or not released, despite pressing security and economic demands.

Lawmakers criticised the budgeting and execution process, arguing that the absence of capital releases contradicts reported improvements in revenue performance and undermines effective budget implementation.

In recent months, contractors handling federal government projects have staged demonstrations at the National Assembly and the Ministry of Finance headquarters, complaining that payments for completed projects had been delayed for months—and in some cases years—due to funding bottlenecks.

Many firms say the backlog has placed them under severe financial strain, stalled ongoing works and led to job losses.

Against this backdrop, Agbese expressed confidence that Oyedele’s appointment signals a renewed commitment to strengthening economic governance and ensuring that public financial management aligns with global best practices, particularly in the timely release of capital funds to MDAs.

Oyedele previously served as Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, the body responsible for Nigeria’s recent tax reform initiatives aimed at simplifying and consolidating the tax system to improve revenue generation and efficiency.