“Where Is ₦34 Trillion?” — Dino Melaye’s Explosive Question Triggers Fresh Storm Over Tinubu Cabinet Shake-Up

By Passman Akpos

ABUJA — President Bola Ahmed Tinubu has carried out a surprise cabinet shake-up, removing two ministers and reallocating key portfolios in what officials describe as a strategic effort to strengthen economic governance amid rising public pressure.

The announcement, made by the Secretary to the Government of the Federation, George Akume, confirmed that the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has been relieved of his duties. He is to hand over to Taiwo Oyedele, who moves from Minister of State to assume full control of the nation’s economic management.

In the housing sector, Ahmed Dangiwa has also been removed as Minister of Housing and Urban Development, while Muttaqha Darma has been named minister-designate to take over the portfolio.

All affected officials are expected to complete handover processes by Thursday, as President Tinubu invoked his constitutional powers under Sections 147 and 148 of the 1999 Constitution, thanking the outgoing ministers for their service while stressing that further adjustments to the cabinet remain possible.

Dino Melaye Raises Alarm, Questions Timing of Sackings

The shake-up has already sparked political controversy, with former senator Dino Melaye alleging a possible link between the dismissals and a damning international financial report.

“Mr President, when Ministers are sacked in civilized climes, government must explain why they are sacked. Was the Minister of Finance removed because he could not cover up the stolen $24 billion (₦34 trillion) diverted from our revenue? World Bank no dey lie. SDM,” Melaye said in a statement that has gone viral on social media.

His comments have intensified debate over transparency in government finances, with critics demanding clearer explanations for the timing of the reshuffle.

World Bank Report Sparks ₦34 Trillion Revenue Storm

The controversy comes on the heels of a World Bank report that has shaken Nigeria’s fiscal landscape, alleging that about ₦34 trillion—roughly $24 billion—was deducted from national revenue over a three-year period before reaching the Federation Account.

According to the report, Nigeria generated an estimated ₦84 trillion between 2023 and 2025, but about 41 percent never entered the distributable pool for federal, state, and local governments. Instead, the funds were reportedly retained through what are known as “first-line charges.”

These deductions reportedly covered debt servicing, operational costs of revenue agencies, oil sector obligations, subsidy-related payments, and transfers to government entities.

While the World Bank stressed that the practice is not illegal, it warned that the scale of deductions raises serious concerns about transparency and accountability in public financial management.

Government Rejects Allegations of Misconduct

The Federal Government has firmly rejected claims that funds were “stolen” or diverted, insisting that all deductions are legal, documented, and necessary for national operations.

Officials argue that the system ensures critical obligations—such as debt repayment and revenue collection costs—are met before revenue distribution, and warn against what they describe as “misleading interpretations” of the report.

Rising Political Heat

Despite the government’s defence, the figures have triggered widespread outrage among economists, civil society groups, and opposition voices, who argue that such large off-budget deductions weaken oversight and fuel public mistrust.

Analysts warn that the combination of ministerial changes and the World Bank revelations could deepen political tension, especially as Nigerians demand clearer accountability over how national revenue is managed.

As debates intensify, pressure is mounting on the Tinubu administration to provide detailed explanations—not just for the cabinet reshuffle, but for the billions of dollars now at the centre of a growing national controversy.