President Bola Ahmed Tinubu has elevated Taiwo Oyedele to the position of Minister of Finance and Coordinating Minister of the Economy, following the exit of Wale Edun from the Federal Executive Council.
The development was announced in a statement issued by Yomi Odunuga, Special Adviser on Media and Publicity to the Secretary to the Government of the Federation.
Edun’s removal comes just a day after he celebrated his 70th birthday on April 20, 2026, marking the end of his tenure as Nigeria’s top finance official.
Cabinet reshuffle approved
According to the statement, Bola Ahmed Tinubu approved a minor cabinet reshuffle within the Federal Executive Council aimed at strengthening governance and improving economic policy coordination.
A memo signed by the Secretary to the Government of the Federation, George Akume, confirmed that two ministers — Wale Edun and Ahmed Musa Dangiwa — are stepping down from their roles.
Edun has been directed to hand over his duties to Taiwo Oyedele, who previously served as Minister of State for Finance.
Meanwhile, Muttaqha Rabe Darma has been nominated as the Minister-designate for Housing and Urban Development to replace Dangiwa.
The memo also instructed that all handover processes must be completed on or before April 23, 2026.
Aim of the reshuffle
Explaining the decision, George Akume said the changes were designed to strengthen synergy within the cabinet and enhance policy delivery, particularly in advancing the administration’s Renewed Hope Agenda.
He added that the President exercised his constitutional powers under Sections 147 and 148 of the 1999 Constitution of Nigeria (as amended) to implement the changes.
The President also expressed appreciation to the outgoing ministers for their service and wished them success in their future endeavours.
He further assured cabinet members that the process of reinvigorating the government team would continue when necessary.
Background to Oyedele’s appointment
Earlier in March 2026, Bola Ahmed Tinubu nominated Taiwo Oyedele as Minister of State for Finance, replacing Doris Uzoka-Anite.
The announcement was made by Bayo Onanuga, who described Oyedele as an economist, accountant, and public policy expert with significant experience in fiscal policy reforms.
Before joining the cabinet, Oyedele served as Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, where he played a key role in designing reforms to modernise Nigeria’s tax system.
Role in Nigeria’s tax reforms
Taiwo Oyedele has been central to the administration’s efforts to overhaul Nigeria’s tax structure.
In 2024, tax reform bills were introduced at the National Assembly to streamline revenue collection and reduce overlaps among government agencies.
The reforms proposed halting tax collection by several agencies, including the Nigerian Upstream Petroleum Regulatory Commission and the Nigeria Customs Service.
Under the new system, federal taxes are now remitted through the Federal Inland Revenue Service, which has been renamed the Nigeria Revenue Service (NRS).
The tax reform laws were officially published in the government gazette in 2025 after being signed into law on June 26, 2025, by President Tinubu, laying the groundwork for a comprehensive overhaul of Nigeria’s tax administration system.
With Oyedele now leading the finance ministry, attention is expected to focus on deepening fiscal reforms and strengthening economic management across the country. 📈🏛️
