The African Democratic Congress (ADC) has raised doubts regarding the capability of the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, to steer the country out of its economic challenges, arguing that he lacks the formal academic background in economics required for the role.
Speaking on Tuesday morning, October 13, 2026, during a media engagement in Abuja, ADC spokesperson Mallam Bolaji Abdullahi asserted that managing macroeconomics demands a development or classical economist rather than an accounting background.
”I’m not saying he’s incompetent, but I think he doesn’t have the right education,” Abdullahi stated. “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.”
The criticism unfolded during a discussion on the Federal Government’s economic policies, including recent disputes over petrol subsidies and domestic production interventions.
Abdullahi emphasized that key economic issues, such as fuel pricing interventions and subsidies, are fundamentally ideological decisions that require a grounded macroeconomic perspective rather than a strict audit or accounting framework.
Clarifying his position, Abdullahi noted that his comments were not a personal attack on Oyedele. He praised the minister as intelligent and respected but argued that the structural demands of the nation’s economy necessitate a trained economist at the helm.
As of Tuesday morning, the Ministry of Finance and representatives of the Federal Government have not issued an official response to the ADC’s statement.
