President Bola Ahmed Tinubu has carried out a major reshuffle of his cabinet, appointing Taiwo Oyedele as the new Minister of Finance and Coordinating Minister of the Economy.
The announcement was made on Monday in Abuja through a statement issued by the Office of the Secretary to the Government of the Federation.
Oyedele replaces Wale Edun, who previously held the portfolio of Minister of Finance and Coordinating Minister of the Economy since August 2023.
The reshuffle is described by the Presidency as a strategic move to strengthen economic management and improve coordination across fiscal and monetary policy.
Until his new appointment, Oyedele served as Minister of State for Finance, where he led the Presidential Committee on Fiscal Policy and Tax Reforms.
In his former role, he was responsible for drafting proposals to streamline Nigeria’s tax system and expand the revenue base without increasing rates on low-income earners.
With the new mandate, Oyedele is now expected to oversee the Federal Ministry of Finance, Budget and National Planning, and coordinate economic policy implementation.
The Presidency stated that the change is intended to accelerate the delivery of ongoing tax and fiscal reforms considered critical to the administration’s Renewed Hope Agenda.
Key priorities outlined for the new minister include harmonizing multiple taxes, widening the tax net through technology, and reducing revenue leakages across government agencies.
Tinubu thanked the outgoing minister, Wale Edun, for his service and noted that Edun played a significant role in stabilizing macroeconomic indicators during his tenure.
The President said the reshuffle reflects his commitment to placing the right expertise in key positions to meet current economic challenges and growth targets.
The statement added that all other ministers remain in their current portfolios, and the changes take immediate effect to ensure continuity in government operations.
