The House of Representatives has expressed optimism that the appointment of Taiwo Oyedele as Minister of State for Finance will address delays in capital releases to government agencies.
Lawmakers said the persistent zero capital releases to Ministries, Departments, and Agencies (MDAs) have disrupted project execution across the country.
They noted that the situation has also triggered protests by contractors handling government projects.
Members of the House said the appointment could strengthen coordination in the finance sector.
They believe Oyedele’s experience in fiscal policy and tax reform will help improve budget implementation.
Additionally, lawmakers said timely capital releases are essential for completing infrastructure and development projects.
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They warned that prolonged delays could stall economic activities and increase project costs.
Contractors working on federal projects have repeatedly complained about delayed payments.
Some have staged protests over the lack of capital funding for projects already approved in the national budget.
Lawmakers said resolving the issue will restore confidence among contractors and investors.
They also stressed that effective capital releases will improve service delivery by government agencies.
Officials expect the new minister to work closely with the Ministry of Finance and other institutions.
The aim is to ensure that budgeted capital funds are released on time to MDAs.
Lawmakers added that improved fiscal management remains critical to Nigeria’s economic development.
