The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has revealed his administration’s strategic economic priorities while appreciating the role of his predecessor, Wale Edun.
He made this known in a statement via his Facebook page on Friday, tagged “Assumption of Office and Commitment to Economic Reform.”
While disclosing that he formally assumed office yesterday as the Minister of Finance and Coordinating Minister of the Economy following a handover from Edun, he said, “I sincerely appreciate him for his service to our country and the foundation he has laid.”
What the minister is saying
According to Oyedele, Nigeria is at a critical juncture, and his predecessor has taken important steps to stabilise the economy.
He stated that the ministry’s immediate task is to consolidate these gains, deepen ongoing reforms, and ensure they translate into tangible benefits for all Nigerians.
He then itemised the ministry’s strategic priorities under his leadership to include:
- Productivity & Growth – Creating a predictable and investor-friendly environment anchored on policy coherence, consistency, and clarity.
- Fiscal Discipline & Sustainability – Ensuring transparent and prudent management of public resources.
- Revenue Optimisation & Fair Taxation – Harmonising revenue administration, broadening the tax base, reducing the burden on vulnerable populations, and supporting economic growth.
- Stronger Government Coordination – Aligning efforts across all tiers and institutions to maximise policy impact.
- Public Policy–Private Partnership (PPPP) – Deepening collaboration with the private sector and other key stakeholders for data-driven policy design, co-implementation, and continuous feedback for improvement.
He emphasised that good policy design alone is not enough, adding that success will be defined by execution.
- “We are committed to disciplined implementation, accountability, and measurable results,” he added.
He expressed optimism about working with colleagues across government, the private sector, and all Nigerians to move the nation from reform to results, accelerate growth, and build a more stable, inclusive, and prosperous economy.
Backstory
Nairametrics reported that Bola Tinubu had recently elevated Taiwo Oyedele to the position of Minister of Finance and Coordinating Minister of the Economy, as his predecessor, Wale Edun, officially left the Federal Executive Council.
The Secretary to the Government of the Federation, George Akume, confirmed that Edun and Housing Minister Ahmed Musa Dangiwa have stepped down from the cabinet.
The reshuffle, according to the presidency, is expected to focus on strengthening fiscal policy, tax administration, and economic coordination.
The administration has implemented major reforms, including subsidy removal, exchange rate adjustments, and revenue mobilisation efforts.
As the new finance leadership takes over, attention is expected to shift toward sustaining reforms and translating macroeconomic gains into improved living standards for Nigerians.
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.
