The Senate on Wednesday confirmed the appointment of Mr. Taiwo Oyedele as the Minister of State for Finance following a successful screening during the day’s plenary session.
The confirmation followed a formal request by the President and commander-in- chief of the armed forces in accordance with Section 147 (2) of the 1999 Constitution (as amended). During the proceedings, lawmakers lauded the nominee’s competence, with leadership noting that Mr. Oyedele possesses the “requisite competence” to manage the ministerial office.
Economic Scrutiny and Solid Minerals
During the screening, Mr. Oyedele addressed various inquiries regarding national and economic stability. Senators specifically questioned the nominee on his strategy for the solid minerals sector, citing the significant revenue loss currently attributed to systemic neglect.
Legislators pointed out that mineral wealth, such as gold deposits in regions like Kabo Local Government Area of Kano State, remains largely untapped. In response, the Senate emphasized the need for the Ministry of Finance to better integrate these resources into the national revenue stream.
FCT Budget Scales Second Reading
In a major legislative move, the Senate passed the 2026 Federal Capital Territory (FCT) Appropriation Bill for a second reading. The budget is set at a total of ₦2.2 trillion.
Key highlights of the bill include:
Total Expenditure: ₦2.2 trillion
Capital Development: ₦1.6 trillion (approx. 73% of the total budget)
Focus Areas: Road construction, electricity infrastructure, and urban growth.
Lawmakers described the budget as “development-driven,” noting that the heavy tilt toward capital expenditure aligns with the current administration’s “Renewed Hope Agenda.” This follows a series of project commissions across the FCT over the past year, which senators cited as evidence of effective performance by the FCT ministry.
Security Concerns and Legislative Updates
The session also addressed a recent deadly attack on a military formation in Kukawa Local Government Area, Borno State. The Senate adopted a motion moved by Senator Mohammed T. Monguno regarding the incident, which resulted in the death of Lieutenant Colonel Umar Faruk and several other soldiers.
While mourning the loss of the officers, the Senate commended the troops of Operation Hadin Kai for their resilience in repelling the Boko Haram insurgents. Leadership reaffirmed its support for the Presidency’s efforts to tackle insurgency and banditry, urging continued legislative backing for the Armed Forces.
Additionally, six new bills successfully scaled the first reading stage during the session.
