President Bola Ahmed Tinubu has appointed Taiwo Oyedele as the new Minister of Finance and Coordinating Minister of the Economy, replacing Wale Edun in a fresh cabinet reshuffle.
The appointment was announced in a memo signed by the Secretary to the Government of the Federation, George Akume, directing Edun to hand over and ensuring a smooth transition within the ministry.
Oyedele, who previously served as Minister of State for Finance, now takes over full leadership of the country’s economic management team. His elevation follows his earlier role as chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, where he played a key role in shaping Nigeria’s tax system.
In his farewell message, Edun expressed appreciation to the president for the opportunity to serve, noting that his journey in the administration began as head of the Presidential Transition Committee before he was appointed Special Adviser on Monetary Policy and later minister.
He acknowledged that the government inherited significant economic challenges but said efforts had been made to stabilise the economy and lay the foundation for long-term growth.
“We have worked collectively across government to advance critical reforms that stabilised the macroeconomic environment and strengthened fiscal sustainability,” he said.
The presidency stated that all handover processes were expected to be completed immediately, with interim measures in place to ensure continuity.
Oyedele, an economist and public policy expert from Ondo State, brings years of experience from both the private and public sectors. Before joining government, he built a career in tax advisory and fiscal policy, rising to leadership roles across Africa.
His appointment is seen as a continuation of ongoing economic reforms, with expectations that he will consolidate existing policies while introducing new strategies to strengthen Nigeria’s fiscal and economic framework.
