The National Publicity Secretary of the African Democratic Congress (ADC), Bolaji Abdullahi, has questioned whether Finance Minister Taiwo Oyedele has the appropriate educational background to oversee Nigeria’s economic policies, particularly the government’s approach to fuel subsidy.
Abdullahi made the remarks on Monday during an interview on Channels Television’s Politics Today, where he argued that managing an economy requires specialised training and an understanding of different economic theories.
While acknowledging Oyedele’s intelligence and competence, the ADC spokesman maintained that accounting expertise differs from the training required to assess and manage an economy.
“I’m not saying he’s incompetent, but I think he doesn’t have the right education,” Abdullahi said, adding that decisions on subsidy are ideological and depend on how policymakers understand the economy.
He further argued that the perspectives of accountants, classical economists and development economists differ, stressing the need for people with the appropriate training to handle the country’s economic affairs.
Oyedele holds a Higher National Diploma in Accountancy and Finance from Yaba College of Technology and a Bachelor of Science degree in Applied Accounting from Oxford Brookes University. He has also undertaken executive education programmes at the London School of Economics, Yale University, the Gordon Institute of Business Science and Harvard Kennedy School.
Before his appointment as Minister of Finance and Coordinating Minister of the Economy, Oyedele spent 22 years at PricewaterhouseCoopers, where he rose to become Fiscal Policy Partner and Africa Tax Leader. He also chaired the Presidential Committee on Fiscal Policy and Tax Reforms and previously served as Minister of State for Finance.
The criticism comes amid debate over the Federal Government’s proposed 30-day petrol discount at Nigerian National Petroleum Company Limited (NNPC) stations. Oyedele recently explained that the arrangement, which prioritises public transport operators, was a margin discount rather than a return to fuel subsidy.
The proposal has drawn criticism from former Vice-President Atiku Abubakar, the Obidient Movement, the Nigeria Democratic Congress and the presidential campaign organisation of Oyo State Governor Seyi Makinde, with opponents describing the intervention as inadequate and politically motivated.
