Tinubu Appoints New Minister of Finance after Wale Edun's Sack

• President Tinubu appoints Taiwo Oyedele as Nigeria's new finance minister following Wale Edun's dismissal
• Taiwo Oyedele, former minister of state for finance, brings extensive experience in economics and public policy
• The presidency cites the need for enhanced governance and economic delivery in Edun's removal announcement

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State House, Abuja - President Bola Tinubu has appointed Taiwo Oyedele as the new minister of finance and coordinating minister of the economy.

This is after the Nigerian leader sacked Wale Edun from the position on Tuesday, April 21, in what is termed a minor cabinet reshuffle.

Secretary to the Government of the Federation, Senator George Akume, announced this development in a memo.

A statement signed by the SGF's spokesperson, Yomi Odunuga, indicates that Edun has been directed to hand over to his successor.

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According to the memo, all handover and takeover processes must be completed on or before the close of business on Thursday, April, 23.

President Tinubu thanked the outgoing minister for his service to Nigeria and wished him the best for his future endeavours.

Who is Taiwo Oyedele, Nigeria's new finance minister?

Taiwo Oyedele, who previously served as minister of state for finance, will take over from Edun as the minister of finance and coordinating minister of the economy.

In March, the president had nominated Oyedele, who had been serving as chairman of the Presidential Fiscal Policy and Tax Reforms Committee, as the minister of state for finance.

He had replaced the former minister of state for finance, Dr Doris Uzoka-Anite, who was moved to another ministry by the president.

Oyedele, 50, hails from Ikaram-Akoko, Ondo state. He is an economist, accountant and public policy expert.

The new finance minister attended Yaba College of Technology, where he obtained his Higher National Diploma (HND) in accountancy and finance. He later attended Oxford Brookes University, where he earned a BSc in Applied Accounting.

Oyedele also completed executive education programmes from the London School of Economics, Yale University, the Gordon Institute of Business Science, and the Harvard Kennedy School.

He spent 22 years of his career at PwC, joining in 2001 and rising to become the Fiscal Policy Partner and Africa Tax Leader.

Oyedele is a professor at Babcock University in Ogun state and also a visiting scholar at the Lagos Business School.

Nigerians react to Taiwo Oyedele's appointment as finance minister

citykush, @citykush1, said on X:

"From a mere tax consultant to minister of state finance and now minister of finance. This is a clear example of resilience and staying true to one’s professional duty, even in the face of strong opposition. Congratulations to Mr Taiwo Oyedele."

F Ọ L Ú, @FolushoxFolarin, said:

"Took long enough. Taiwo Oyedele is now the Minister of Finance and the coordinating Minister of the Economy."

Sir J (J9), @SirJarus, the president had

"Congrats to my former boss and senior friend of over 15 years, Taiwo Oyedele, on promotion to Minister of Finance. When it comes to competence, knowledge, zeal for progress, and passion for his country, I do not know many people who match Taiwo."

E.J., @Enwagboso, said:

"When he (President Tinubu) appointed @taiwoyedele as the Minister of State, I anticipated this development. My congratulations go out to both individuals. I am hopeful that Taiwo will dedicate efforts to improving the economy. That is my sincere wish."

The Alchemist II, @Ikramah_ASA, said:

"When the President appointed Taiwo Oyedele as Minister of State for Finance, it was obvious to me that he was destined to occupy the senior minister position. I said at the time that he was simply a senior Minister of Finance in transit, waiting for the right moment. It is satisfying to see that Mr President has acted exactly as I had prophesied. A simple study of President Tinubu, along with a close examination of his administration and its intended trajectory for managing the nation’s finances and economy, made that prediction quite clear."

Why did Tinubu sack Wale Edun as finance minister?

Although the presidency did not clearly disclose the reason for Edun's removal, the SGF said the change in hand at the Ministry of Finance is to strengthen cohesion and synergy in governance, and to achieve more impactful delivery on the economy to Nigerians, through the Renewed Hope Agenda.

He added that the president exercised his powers under Sections 147 and 148 of the Constitution of the Federal Republic of Nigeria (1999, as amended) in approving Edun's removal.