President Bola Tinubu has elevated Minister of State Taiwo Oyedele to the position of Minister of Finance and Coordinating Minister of the Economy, as his predecessor, Wale Edun, officially leaves the Federal Executive Council.
This was disclosed in a statement issued by Yomi Odunuga, Special Adviser, Media and Publicity to the Secretary to the Government of the Federation.
The removal of Wale Edun came just a day after the outgoing Minister marked his 70th birthday on April 20, 2026.
What FG is Saying
According to the statement, President Bola Ahmed Tinubu has approved a minor cabinet reshuffle in the membership of the Federal Executive Council.
According to a memo signed by the Secretary to the Government of the Federation, Senator George Akume, two cabinet members, Mr. Wale Edun and Arc. Ahmed Musa Dangiwa are to leave the cabinet while their replacements have been named.
- “Edun, until the latest development, was the Minister of Finance and Coordinating Minister for the Economy.
- “He has been directed to hand over to Mr. Taiwo Oyedele who is now to take over as Minister of Finance and Coordinating Minister of the Economy. Oyedele was formerly a Minister of State in the ministry.
- “Also Mr. Muttaqha Rabe Darma (PhD .) has been named as the ministerial nominee and minister designate for the Housing and Urban Development Ministry,” the statement partly reads.
The memo directed Dangiwa to hand over to the Minister of State in the ministry.
- According to the memo, “all handing over and taking over processes should be completed on or before the close of business on Thursday, 23rd April, 2026.”
Explaining the President’s decision, Akume said the changes are aimed at strengthening cohesion and synergy in governance, as well as achieving more impactful delivery on the economy to Nigerians, through the Renewed Hope Agenda.
He said the President, in approving the cabinet reshuffle,” has fully exercised his powers as conferred on him by Sections 147 and 148 of the Constitution of the Federal Republic of Nigeria (1999, as amended).”
The President appreciated the outgoing ministers for their services to the nation while wishing them the best in all their future endeavours.
The President equally assured all cabinet members that the process of reinvigoration shall be continuous.
Backstory
Recall that in March this year, President Bola Ahmed Tinubu nominated Mr Taiwo Oyedele, the immediate past chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, for the position of Minister of State for Finance, replacing Dr Doris Uzoka-Anite.
This was disclosed in a statement issued on March 3, 2026, by Bayo Onanuga, Special Adviser to the President (Information and Strategy).
The Presidency had described Oyedele as an economist, accountant, and public policy expert.
Onanuga stated that Oyedele played a role in overhauling Nigeria’s tax system.
What you should know
Oyedele is one of the central figures in Nigeria’s tax system under President Bola Tinubu.
In 2024, tax reform bills were introduced at the National Assembly to halt revenue collection by certain federal agencies, including the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigeria Customs Service (NCS).
- Taiwo Oyedele said at the time that the reforms aimed to stop about 60 federal agencies from collecting taxes, allowing them to focus on their core mandates.
- Under the new framework, all federal taxes are now paid to the Federal Inland Revenue Service (FIRS), which has been renamed the Nigeria Revenue Service (NRS).
- The tax reform laws were published in the government gazette in 2025 after being signed into law on June 26, 2025, by President Bola Tinubu.
The legislation laid the foundation for a comprehensive overhaul of Nigeria’s tax administration system.
