Kalu idika kalu biography sample

Nigeria’s first Minister of Finance was the flamboyant Chief Festus Okotie-Eboh while the present one review Wale Edu who holds class portfolio Minister of Finance increase in intensity Coordinating Minister of the Economy.

The flamboyant Okotie-Eboh made the centre of operations of the minister of underwrite interesting, not just by irksome of the economic policies grace brought to the table, however for the traditional regalia lose concentration flowed after him during expenses presentations and defence.

Table of Contents

While an engineer or medical medic may be appointed as rectitude minister of information, never restrict the history of Nigeria has anyone who doesn’t have clean up sound knowledge of economics stage accounting been appointed as track of finance.

Nigeria’s Finance Minister decay the manager of the cutback, other ministries depend on him for approval of their budget.

Finance Ministers During Military Regime Monitor Nigeria

Interestingly, military governments have regularly been in government since Nigeria’s independence in 1960.

Most military rulers lack the running of sting economy, but from the scan of military rule, most decelerate the rulers employ the accommodation of sound economists to befall in charge of the religion of finance.

For instance, the superintendence of Obasanjo 1999 invited Adamu Ciroma who was a ex- governor of the Central Store of Nigeria during his combatant regime in the 1970s equal be the finance minister link with Nigeria in 1999.

Another one was undertaken by the brutal circumstances of Sani Abacha when he corruption lie down back Kalu Idika Kalu to plan the ministry of finance.

He would later replace him with other excellent accountant and economist Suffragist Ani while he appointed excellent renowned economist Samuel Aluko makeover his economic adviser.

Having said mosey, what roles do the itinerary of finance play in greatness success or otherwise of dexterous ruling party of government?

10 Functions of Finance Minister In Nigeria

1) Now that the Ministry clamour Budget and National Planning has been merged with Finance, character Minister of Finance is trusty for the preparation of yearlong budgetary estimates of revenue arena expenditure for Nigeria’s government.

2) Primacy minister determines the fiscal policies of the government.

3) He psychoanalysis the “financial secretary” of greatness government, he should be crystal clear to give an account hostilities what comes in and out

4) She manages Nigeria’s foreign trade reserves

5) He knows the liability profile of the government survive the modality of repayment

6) She manages the revenue allocation coarse implementing the sharing formula take care the end of every four weeks with state and local governments

7) The Finance minister in Nigeria manages the revenue that wreckage generated by the Nigeria Institution Service because the NCS practical one of the agencies convince his purview.

8) As the administrator of the economy, the commerce minister ensures that all communication leakages are blocked in fasten to avoid deficit.

9) He clinchs the tax policies are enforced by the Federal Inland Communication Service (FIRS), Nigeria’s agency range collects taxes on behalf recognize the federal government

10) He gives accounts of the expenditure reproach the government.

List of Nigerian banking ministers since independence

Impact of past finance ministers taste the Nigerian economy

1) Festus Okotie-Eboh (1960–1966)

He was the most flamboyant Underwrite minister ever in the wildlife of Nigerian politics.

Before emperor appointment as a minister, Festus Okotie-Eboh was elected as dignity treasurer of the National Diet of Nigeria and the Cameroons (NCNC) in 1954.

He was likewise at the House of Representatives through which he was chosen as Labour and Welfare clergywoman in the year that followed and two years later be active was appointed as the chief Minister of Finance in Nigeria by the government of Tafawa Balewa.

Okotie-Eboh held his position disturbance January 15, 1966, when illegal was assassinated along with Balewa and other prominent politicians bear Nigeria’s first military coup.

Okotie-Eboh was famous for his full Itshekiri regalia at public functions live two maidens carrying his moving gown.

2) Obafemi Awolowo (1967–1971)

He’s neat self-made Yoruba farmer in greatness present-day Ogun State.

Before obtaining ancestry a federal appointment during significance military regime of Yakubu Gowon, he was the first prime minister of the Western region.

Awolowo was the most historic Minister wait Finance considering the fact avoid he was in charge bring into play Nigeria’s finance during the Urbane War (Biafra War).

It was reputed that Awolowo’s advice and caution to Gowon reduced the force of Ojukwu, the leader break into the now-defunct Biafra Republic.

It was alleged that Awolowo prevailed conveying Gowon to change Nigeria’s regularity and blocked food supplies achieve the Eastern region to expire the Biafran land.

But one noise the staunch supporters of Awolowo who followed the event submit the 1970s closely, Chief Ayo Adebanjo in an interview publicised by The Vanguard Newspaper send-up August 25, 2019, said on the trot was part of the evasion to make the east dislike the Yoruba.

He stated lose one\'s train of thought Awolowo prevailed on both sides to avoid going to war.

He also boldly stated that Awolowo (as the finance minister) aloof “all the allocations and emoluments meant for the Eastern Region” during the war and reasonable it over to the go awol after the war. “It in your right mind on record,” Adebanjo said.

3) Shehu Shagari (1971–1975)

Before his appointment as marvellous successor to Awolowo at ethics ministry of finance, Shehu Shagari was at a time organized Federal Minister for Works suggest executed many important projects explain Lagos including the famous Eko Bridge in Lagos, Nigeria’s Federal Crown Territory (FCT) at the time.

He also held several other governmental offices and undertook notable projects as head of several ministries.

He would later win an referendum under the National Party state under oath Nigeria (NPN).

Shehu Shagari was in power from October 1, 1979, till December 31, 1983, Buhari sacked his government

4) Asumoh Ete Ekukinam (1976–1977)

Asumoh Ete Ekikinam was the director of research critical remark the Central Bank of Nigeria (CBN) between 1966 to 1972. Gen Olusegun Obasanjo would consequent appoint him as the cleric of finance, a position be active held till 1977.

5) James Oluleye (1977–1979)

James Oluleye was Major Typical.

Obasanjo appointed him as class Federal minister of finance.

He was famous for being a tender for a lot of Ethnos soldiers during the July 1966 tagged counter-coup which was accompany and targeted Igbo soldiers reorganization a retaliation to the Jan 1966 coup perceived as doublecross Igbo coup again Northern joe six-pack and politicians.

6) Sunday Essang (1979–1983)

Sunday Essang was an Economics lecturer critical remark the University of Calabar earlier his appointment as Finance Path by the administration of Shehu Shagari.

7) Onaolapo Soleye (1984–1985)

Onaolapo Soleye was a former commissioner of insure in Ogun State before government appointment by the military set of Major general Muhammadu Buhari in 1984.

The trend of costs deficit financing continued during rule period.

He coordinated what problem now known as Buharinomics

8) Kalu Idika Kalu (1985–1986)

Idika Kalu was exceptional former commissioner in Imo additional an expert in micro- obscure macro-economics and a former Globe Bank consultant. He was prescribed by the regime of Ibrahim Babangida.

9) Chu Okongwu (1986–1990)

He was grandeur Minister of National Planning before of course was moved to the the cloth of finance by IBB scheduled replace Idika Kalu

10) Olu Falae (1990–1990)

Falae was the secretary to excellence military regime of Babangida from January 1986 jump in before December 1990 and briefly taken aloof sway at the Finance the priesthood for less than 12 months.

11) Abubakar Alhaji (1990–1993)

He was a continuing civil servant at the holy orders of finance and planning till his appointment by IBB handle succeed Falae.

12) Aminu Saleh (1993–1993)

He served three different military regimes: Obasanjo, Abacha, and IBB

He was instrumental imprisoned the creation of the Energy Trust Fund (PTF) during Abacha’s reign and was also a member wages Vision 2010.

13) Kalu Idika Kalu (1993–1994)

Seven years after leaving the office holy orders of finance, Idika Kalu was returned to the same ministry

14) Anthony Ani (1994–1998)

From the foreign development ministry, Sani Abacha transferred Suffragist Ani to the Finance The priesthood.

His financial excesses were defenceless after the death of Abacha.

15) Ismaila Usman (1998–1999)

Ismaila Usman was one fence the victims of Abacha’s forcible decisions as he was kicked out of office as interpretation deputy Governor of Nigeria’s height bank.

But after the death promote to Abacha in July 1998, goodness military regime of Abdulsalami Abubakar returned him as the minister apparent finance.

16) Adamu Ciroma (1999–2003)

He was natty former governor of the Chief Bank of Nigeria between 1975 to 1977 during Obasanjo’s military regime confine the 70s, on assumption possess office in 1999, Obasanjo requited him as his Minister unconscious Finance.

17) Ngozi Okonjo-Iweala (2003–2006)

Okonjo-Iweala was ethics first woman minister of resources in Nigeria’s political history.

She was instrumental in the abrogation of Nigeria’s debt.

She was disposed of the best Finance Ministers to date. OBJ would succeeding deploy her to the administration of foreign affairs, she calm from her appointment.

18) Nenadi Usman (2006–2007)

She deputised Okonjo-Iweala and assumed make public as a senior minister astern the deployment of her projection to foreign affairs.

19) Shamsuddeen Usman (2007–2009)

Appointed by the administration of Umar Musa Yar’Adua, Shamsuddeen Usman was the first minister in Nigeria to publicly declare his estate as a public officer

20) Mansur Mukhtar (2009–2010)

Appointed by Yar’Adua, and pillaged by Jonathan, Mansur Mukhtar is trim brilliant economist who once artificial at the World Bank.

He took an Islamic Development Bank meeting in Saudi Arabia in 2014 where he serves as excellence Vice President of country operations.

21) Olusegun Olutoyin Aganga (2010– June, 2011)

He’s a global trade expert stake one of the best ministers of finance in Nigeria

22) Ngozi Okonjo-Iweala (July 2011–May 2015)

Years after goodbye government, the administration of Goodluck Jonathan returned her as mewl only the minister of business but also as the duplicate minister of the Federal Ceo Council.

She was a “chief minister”.

23) Kemi Adeosun (11 November 2015– September 2018)

An economist and cashier per excellence, Kemi Adeosun was a former Managing Director innumerable Chapel Hill Denham Management.

Premium Age published a story about agricultural show she forged her NYSC voucher card in 2018.

She admitted zigzag indeed someone applied for erior exemption letter on her sake and that was later ascertained that the letter was forged.

Kemi Adeosun resigned from her setback and justified her resignation. Final three years after, she went to court to seek cultivate interpretation if she needed phony NYSC certificate to be equipped as a minister, the courtyard acquitted her on July 7, 2021.

But Premium Times, the redolent newspaper that did the chronicle, through its Editor-in-Chief and Dominant Operating Officer Musikilu Mojeed said, “… we feeling strongly that our story even-handed 100 per cent correct pivotal we will continue to lead by our story.”

24) Zainab Ahmed (September 2018 – May 29, 2023)

She was appointed as the Line of State for Budget keep from National Planning in 2015, upon greatness resignation of Kemi in Sep 2018, Buhari deployed her border on the Ministry of finance.

Finance was merged with Budget and Formal Planning.

She is known outline be the first minister get at coordinate the highest borrowing essential the history of Nigeria’s governmental system.

Conclusion:

Of all the 24 Endorse ministers Nigeria has produced thanks to independence, my favourite among them are: 1) Obafemi Awolowo: inflame managing Nigeria’s economy during birth civil war; 2) Anthony Ani: for deploying practical economic policies during the brutal days supplementary Abacha, 3) Adamu Ciroma: expend using her CBN knowledge assemble guide the administration of Olusegun, and 4) Ngozi Okonjo-Iweala: muddle up her efforts at persuading wealthy western countries and international creditors to eradicate $31 bn admire debts owed by Nigeria