The appointment of Yoruba individuals to lead several of Nigeria’s key revenue-generating and economic institutions has sparked renewed discussions about ethnic representation in federal appointments, with many observers linking the pattern to Bola Tinubu’s 2023 campaign phrase “Yoruba lokan” (It’s the Yoruba’s turn).
The Central Bank of Nigeria (CBN) is headed by Governor Olayemi Cardoso, who assumed office in an acting capacity in September 2023 before his confirmation.
Cardoso, a former Commissioner for Economic Planning and Budget in Lagos State and ex-board chairman of Citibank Nigeria, oversees the country’s monetary policy and financial system stability.
The Nigeria Revenue Service (NRS, formerly the Federal Inland Revenue Service or FIRS) is led by Executive Chairman Zacch Adedeji.
Appointed in September 2023 after serving as Special Adviser to the President on Revenue, Adedeji has been praised for restructuring revenue collection processes, meeting budget targets in the third quarter of 2025, and advancing initiatives like the National Single Window platform to streamline trade processes.
The Nigeria Customs Service (NCS) operates under Comptroller-General Bashir Adewale Adeniyi.
Initially appointed in an acting capacity in June 2023 and later confirmed, Adeniyi’s tenure has been extended by one year beyond August 2025 to allow him to consolidate reforms, including service modernization and implementation of obligations under the African Continental Free Trade Area (AfCFTA).
He also serves as Chairperson of the World Customs Organization Council since July 2025.
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has Bashir Ojulari (also referred to as Bayo Ojulari in some reports) as Group Chief Executive Officer.
He replaced Mele Kyari following a board reconstitution effective April 2, 2025.
Ojulari, an engineer with over three decades in the oil and gas sector—including roles at Shell Nigeria Exploration and Production—has focused on increasing production targets, completing key infrastructure like the Ajaokuta-Kaduna-Kano gas pipeline, and aiming for higher crude oil output in 2026.
These leadership positions control critical aspects of Nigeria’s economy: monetary policy and banking (CBN), tax administration and non-oil revenue (NRS), trade facilitation and import duties (NCS), and oil/gas production, refining, and energy security (NNPC Ltd.).
Together, they influence a significant portion of federal revenue streams and economic direction.
The concentration has fueled online debates, with some users on X (formerly Twitter) arguing it fulfills campaign promises of regional equity after perceived imbalances in prior administrations.
Others defend the choices as based on competence and loyalty to the current government, while critics highlight concerns over adherence to the federal character principle enshrined in the constitution, which requires equitable representation across ethnic groups and geopolitical zones to promote national unity.
Public reactions remain polarized, reflecting broader tensions around ethnicity, merit, and trust in governance.
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As Nigeria navigates economic challenges—including fuel pricing projections, foreign exchange stability, and industrial growth—the performance of these institutions under their current leadership will likely face continued scrutiny.
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