His appointment was announced in a statement signed by Mr. Femi Adesina, the Special Adviser to the president on media and publicity on Thursday.
Akabueze is to take over from Mr. Tijani Muhammed Abdullahi who would now serve as Special Adviser to the President on Planning.
Both Akabueze and Abdullahi joined the Ministry of Budget and National Planning in February this year.
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According to the statement, their redeployment was “part of an ongoing exercise aimed at further repositioning the Ministry to effectively deliver on its core mandate.”