The National Publicity Secretary of the African Democratic Congress, Bolaji Abdullahi, has questioned whether Finance Minister Taiwo Oyedele’s academic background adequately prepares him to manage Nigeria’s economic policies.
Abdullahi made the remarks on Monday during an appearance on Channels Television’s Politics Today, where he criticised the Federal Government’s economic approach, particularly its handling of petrol subsidy.
While acknowledging Oyedele’s intelligence and professional competence, the ADC spokesman argued that economic management requires specialised knowledge and training, stressing that an accounting background does not necessarily provide the same perspective as formal economics training.
He said, “I’m not saying he’s incompetent, but I think he doesn’t have the right education.
Because, look, the issue of subsidy is ideological, and we have to understand where you are coming from. I mean, I’m talking about an economy, this Nigerian economy.
“No, I’m not going personal. Like I said, I have utmost respect for him. And I think he’s quite a smart guy. I’m not taking that away from him,” he said.
“But what I’m saying is that the way an accountant reviews an economy is not the same way an economist reviews it. And the same way a classical economist would look at it is not the way a development economist would look at it.”
We need people who are trained to do this job to do it,” Abdullahi added.
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Oyedele previously chaired the Presidential Committee on Fiscal Policy and Tax Reforms before his appointment as Minister of State for Finance and subsequent elevation to his current position as Minister of Finance and Coordinating Minister of the Economy.
His academic qualifications include 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 also attended executive education programmes at the London School of Economics, Yale University, the Gordon Institute of Business Science and the Harvard Kennedy School.
Before joining the Federal Government, Oyedele spent 22 years at PricewaterhouseCoopers, where he began his career in 2001 and rose to become the firm’s Fiscal Policy Partner and Africa Tax Leader.
Abdullahi’s criticism comes amid debate over the government’s latest intervention in the downstream petroleum sector.
The Federal Government recently announced a 30-day discount on petrol sold at Nigerian National Petroleum Company Limited stations, with public transport operators expected to receive priority under the arrangement.
Oyedele disclosed the initiative last Thursday, explaining that it would operate as a reduction in profit margins at NNPC outlets rather than a reinstatement of petrol subsidy.
The proposal has drawn criticism from several political groups and opposition figures, including former Vice-President Atiku Abubakar, the Obidient Movement, the Nigeria Democratic Congress and the presidential campaign organisation of Oyo State Governor Seyi Makinde.
They have rejected the planned discount, describing the intervention as insufficient and politically motivated.