Nigerian President Bola Tinubu has appointed Taiwo Oyedele as Minister of Finance and Coordinating Minister of the Economy, following the departure of Wale Edun from the role he held since August 2023.
The reshuffle, confirmed in a memo signed by Secretary to the Government of the Federation (SGF) George Akume on Tuesday, April 21, also saw Ahmed Dangiwa exit as Minister of Housing and Urban Development, with Muttaqha Rabe Darma named as the ministerial nominee for that role.
The Presidency subsequently clarified that Edun, who turned 70 on Monday, submitted his resignation letter on his birthday, citing health grounds. “It has been a pleasure and privilege to serve your administration and the Renewed Hope Agenda,” he wrote, adding that he wished the administration continued success.
The changes were described as aimed at “strengthening cohesion, synergy in governance as well as achieving more impactful delivery on the economy to Nigerians.”
Oyedele’s appointment was anticipated in political circles. In August 2023, President Tinubu appointed him as chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, and by May 2025, the Senate had passed four tax reform bills rooted in the committee’s recommendations. He was then nominated and confirmed as Minister of State for Finance in March 2026.
Under Oyedele’s leadership at the committee, the reforms consolidated over 60 fragmented taxes into fewer than 10 streamlined statutes, with at least 12 states adopting the resulting tax harmonisation law. The committee targeted an increase in Nigeria’s tax-to-Gross Domestic Product ratio from approximately 10 percent to at least 18 percent within three years.
Edun’s tenure was not without controversy. In February 2026, federal lawmakers accused him of recording zero implementation of the 2025 capital budget despite the National Assembly approving 1.15 trillion naira to fund capital components, citing widespread complaints from ministries, departments, and agencies about funding shortages and unpaid contractors.
Nigeria had generated 28 trillion naira in revenue that year against a 25 trillion naira target, meaning revenue existed, yet capital projects were not funded, leaving the gap between approval and execution impossible to defend publicly.
All handover processes were directed to be completed by April 23, with Tinubu thanking the outgoing ministers for their service and signalling that further changes could follow as part of a broader effort to reinvigorate the cabinet.
Oyedele now inherits an economy navigating the aftereffects of sweeping structural reforms, including fuel subsidy removal and exchange rate liberalisation, reforms that have improved some macroeconomic indicators while intensifying cost-of-living pressures for ordinary Nigerians.
