Dr Kingsley Udeh, until recently the Attorney-General and Commissioner for Justice of Enugu State, was sworn in to replace Uche Nnaji, the former Minister of Innovation, Science and Technology, who resigned on October 7 amid controversies surrounding his academic records.
Udeh, who was elevated to the rank of Senior Advocate of Nigeria (SAN) shortly before his nomination, was put forward by the President on November 4 and promptly confirmed by the Senate.
Their induction brings Tinubu’s cabinet strength to 48 ministers.
Following the formalities, President Tinubu presided over the FEC meeting. Before the session went behind closed doors, the Coordinating Minister of the Economy and Minister of Finance, Wale Edun, briefed the council on Nigeria’s renewed access to the international capital market.
Edun disclosed that Nigeria’s $2.35bn Eurobond was oversubscribed by 453 per cent, attracting $13 billion in investor orders.
“The next phase of reforms will remove barriers holding back investors. We will review tariffs and import restrictions to stimulate productivity and investment,” he said.
He added that the government is undertaking a detailed review of both the Federation and federal balance sheets to optimise asset management for inclusive growth.
“We are improving fiscal reporting and budget realism, tightening expenditure frameworks and ensuring reform gains are made available to all Nigerians,” Edun stated.
Responding, President Tinubu welcomed the strong investor interest, noting that despite political challenges, Nigeria continues to strengthen diplomatic ties and rebuild confidence in its economy.
He reaffirmed that the administration remains committed to defeating terrorism and delivering a peaceful, inclusive, and prosperous nation.
