Nigeria’s acting President, Goodluck Jonathan, installed a new Cabinet on Tuesday, a move his supporters hope will herald a period of stronger government and ease months of political uncertainty.
Jonathan assigned portfolios to 38 new Cabinet ministers, including senior Goldman Sachs executive Olusegun Aganga and former mines minister Deziani Allison-Madueke, who were appointed finance and petroleum ministers.
With his own team now in place, Jonathan can assert his authority and revive key reforms that have stalled since ailing President Umaru Yar’Adua stepped away from the public eye last November.
“I have confidence in this team, which I believe reflects on the federal government’s commitment to take bold steps in solving the nation’s problems,” Jonathan told reporters after a swearing-in ceremony.
With only 13 months of the presidential term left, the acting president has focused the Opec member’s political agenda to include electoral reforms, security in the oil-producing Niger Delta, providing more reliable electricity and fighting corruption.
The new ministers, who include 13 returnees from the outgoing Cabinet, will be critical in achieving these goals in Africa’s most populous country.
Finance, oil ministries
Analysts welcomed the choice of Aganga as finance minister, saying he had enough experience to help develop sub-Saharan Africa’s second biggest economy.
“He will ensure that Nigeria embarks on fiscal discipline,” said Bismarck Rewane, head of financial derivatives. “The downside is that he is going to be under intense pressure to disburse funds this year with the elections so close.”
Presidential elections are expected to take place early next year.
There is an unwritten agreement among the political elite that the presidency should alternate between north and south after every two presidential terms. Yar’Adua, a northerner, is currently in his first term.
Jonathan’s choice for petroleum minister, Deziani Allison-Madueke, was more controversial.
“What is worrying is [Madueke’s] performance in the past was not inspiring. She couldn’t make any impact both at the Works Ministry and Solid Minerals Ministry,” said Reuben Abati, chairperson of the editorial board for Nigeria’s Guardian newspapers.
Nigeria’s Parliament is working on legislation to overhaul Africa’s biggest oil and gas sector that would turn state-run Nigerian National Petroleum Corporation (NNPC) into a profit-driven firm, like those in Brazil, Malaysia and Saudi Arabia.
Madueke would be in charge of implementing the legislation once it’s signed into law by the president.
She will also be working closely with the new head of NNPC, Shehu Ladan, who was appointed by Jonathan earlier on Tuesday. — Reuters