Kemi Adeosun’s resignation as Nigeria’s Minister of Finance in September 2018 brought to an end one of the most defining and debated phases of economic management under the Muhammadu Buhari administration. Her departure followed the controversy surrounding her National Youth Service Corps certificate, a development that abruptly cut short her time in office and shifted public attention from policy to personal scrutiny.
Adeosun had been appointed in 2015 during a period of deep economic strain. Nigeria was grappling with falling oil prices, shrinking foreign reserves, and an overreliance on crude oil revenues. These challenges soon intensified after the global oil price crash, pushing the country toward its first recession in more than two decades. Her tenure unfolded in an environment defined by scarcity rather than surplus.
Before the controversy that led to her exit, Adeosun was central to shaping Nigeria’s response to the economic downturn. One of her earliest interventions was the introduction of the Budget Support Facility for states, which provided much-needed financial relief to sub-national governments struggling to pay workers’ salaries. This intervention helped prevent widespread unrest at a time when public finances were under severe pressure.
At the federal level, she prioritised fiscal discipline, advocating tighter controls on spending and stronger transparency in public finance management. A key pillar of her legacy was the Voluntary Assets and Income Declaration Scheme, launched in 2017. The initiative aimed to expand Nigeria’s tax base by encouraging voluntary compliance among individuals and companies that had long evaded taxes. While the programme generated debate, it significantly boosted non-oil revenue and reshaped conversations around tax responsibility and civic duty.
Adeosun also played a major role in stabilising the economy after Nigeria slipped into recession. She supported structural reforms designed to restore confidence and improve efficiency across government. Technology-driven payroll audits under her watch uncovered and removed thousands of ghost workers from the public sector, saving billions of naira in recurrent expenditure.
The Ministry of Finance’s Efficiency Unit was strengthened to curb waste, enforce value-for-money principles, and close revenue leakages. In addition, the whistleblower policy was rolled out to encourage public participation in the fight against corruption, leading to the recovery of substantial public funds and reinforcing accountability.
Her tenure marked a shift in Nigeria’s debt management strategy. Adeosun argued that Nigeria’s core challenge was weak revenue generation rather than the absolute size of its debt. She supported increased use of long-term, concessionary borrowing to fund infrastructure, while working to rebalance domestic and external debt and improve sustainability indicators.
By 2017, Nigeria officially exited recession. While growth remained modest, inflation began to ease and fiscal systems showed early signs of reform. Supporters viewed Adeosun as a steady technocrat navigating an exceptionally difficult period, while critics described her approach as cautious and constrained by political realities.
Following her resignation, Adeosun returned to the United Kingdom and pursued legal action to clear her name. Years later, a court ruled that she had no case to answer regarding the certificate issue. By that time, she had already redirected her focus toward a different form of service outside government.
In the UK, she founded the DashMe Foundation, a philanthropic initiative centred on education, social mobility, and empowerment. The foundation became a platform for translating policy experience into grassroots impact, supporting individuals limited more by circumstance than ability. For Adeosun, it represented both personal recovery and a practical demonstration of development driven from the ground up.
She is now preparing to extend this philosophy with Nigerian Audacity, known as NiDacity, a mentorship and capacity-building initiative aimed at young Nigerians navigating an economy challenged by inflation, unemployment, and limited opportunities. The initiative draws from her years in public service, reflecting lessons from what worked, what failed, and where policy alone proved insufficient.
NiDacity is expected to focus on mindset, mentorship, and skills transfer, areas Adeosun believes are critical complements to macroeconomic reform. It targets young people seeking to thrive in an environment shaped by volatility, technology, and global competition. The project seeks to celebrate Nigeria’s entrepreneurial spirit and channel it into sustainable growth.
Adeosun’s journey from the centre of national economic policymaking to a people-focused mission highlights a broader narrative about leadership and legacy. While public office can end abruptly and reputations can be tested, service can continue in new forms. Through NiDacity, she is re-entering Nigeria’s development conversation with a vision rooted not in politics, but in the belief that empowered citizens remain the country’s most valuable economic asset.
