President Bola Ahmed Tinubu has relieved Wale Edun of his position as Minister of Finance and Coordinating Minister of the Economy, appointing Taiwo Oyedele as his replacement.
Oyedele, who previously served as Minister of State for Finance and Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, is now the substantive Minister of Finance in what the Presidency described as a strategic cabinet reshuffle aimed at strengthening economic management.
The development was announced in a statement by the Special Adviser to the Secretary to the Government of the Federation (SGF), Yomi Odunuga, citing a memo signed by the SGF, George Akume. The directive ordered the immediate redeployment of portfolios to enhance delivery on the administration’s policy agenda.
In a related development, the Minister of Housing and Urban Development, Ahmed Musa Dangiwa, has been directed to exit the cabinet. The President has nominated Dr Muttaqha Rabe Darma as his replacement, pending Senate confirmation.
Dangiwa is to hand over to the Minister of State in the ministry pending the confirmation and assumption of office of the minister-designate.
According to the memo, all handover processes are to be concluded by the close of business on Thursday, April 23, 2026.
Explaining the rationale for the changes, Akume said the reshuffle was designed to “strengthen cohesion and synergy in governance, as well as ensure more impactful economic delivery to Nigerians under the Renewed Hope Agenda.”
He added that the President exercised his constitutional powers under Sections 147 and 148 of the 1999 Constitution (as amended) in effecting the changes.
The President also expressed appreciation to the outgoing ministers for their service and wished them success in their future endeavours, while assuring Nigerians that efforts to reinvigorate governance would remain continuous.
Within the ruling All Progressives Congress, senior figures have framed the move as a necessary course correction. Party insiders argue that elevating a technocrat like Oyedele underscores a shift toward data-driven fiscal management and structural reform.
However, opposition voices, particularly from the Peoples Democratic Party, PDP, have described the reshuffle as “belated,” arguing that the administration has been slow to respond to worsening economic indicators. Some critics contend that the change reflects internal dissatisfaction with the pace of economic reforms rather than a proactive policy shift.
Labour groups and civil society organisations have also reacted cautiously, warning that leadership changes alone will not address cost-of-living pressures unless accompanied by tangible policy outcomes.
Background: Who is Taiwo Oyedele?
Taiwo Oyedele is widely regarded as one of Nigeria’s leading fiscal policy and tax reform experts, with a career spanning both the private and public sectors.
Before his entry into government, he was the Fiscal Policy Partner and Africa Tax Leader at PwC, where he advised governments and multinational corporations on tax policy, regulatory frameworks, and economic competitiveness.
He gained national prominence as Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, where he led efforts to overhaul Nigeria’s tax system. His work focused on expanding the tax base, improving compliance, reducing multiplicity of taxes, and aligning fiscal policy with economic growth objectives.
As Minister of State for Finance, Oyedele played a key role in shaping ongoing tax reforms, revenue mobilisation strategies, and fiscal coordination under the Tinubu administration.
His appointment as substantive Finance Minister signals a possible intensification of structural reforms in Nigeria’s fiscal architecture, particularly around taxation, revenue generation, and business climate optimisation.
