Taiwo Oyedele Assumes Office As Finance Minister

 Oyedele assumes office as finance minister, commits to deepening economic reforms

Taiwo Oyedele has formally assumed office as minister of finance and coordinating minister of the economy, pledging to consolidate recent economic gains and deepen ongoing reforms.

In a statement on Friday, Oyedele said he took over from Wale Edun, whom he commended for laying the foundation for economic stabilisation.

He said Nigeria is at a critical juncture, adding that the government’s immediate focus is to ensure that recent reforms translate into tangible benefits for citizens.

“Nigeria is at a critical juncture. Having taken important steps to stabilise the economy, our immediate task is to consolidate these gains, deepen ongoing reforms, and ensure they translate into tangible benefits for all Nigerians,” he said.

Oyedele outlined key strategic priorities for his tenure, including boosting productivity and growth through a predictable and investor-friendly policy environment anchored on consistency and clarity.

He also emphasised the need to strengthen fiscal discipline and sustainability through transparent and prudent management of public resources.

The minister said revenue optimisation and fair taxation would remain central to the government’s agenda.

The tax expert noted that efforts would focus on harmonising revenue administration, broadening the tax base, and reducing the burden on vulnerable populations while supporting economic growth.

“Stronger government coordination aligning efforts across all tiers and institutions to maximise policy impact,” he said.

Oyedele also highlighted the importance of public-private partnerships (PPP) in driving economic development, saying collaboration with the private sector would support data-driven policy design and effective implementation.

“Good policy design alone is not enough; success will be defined by execution. We are committed to disciplined implementation, accountability, and measurable results,” he said.

The minister expressed readiness to work with stakeholders across government and the private sector to accelerate growth and build a more stable and inclusive economy.

On April 21, Tinubu relieved Edun from his position as the minister of finance and coordinating minister of the economy, replacing him with Oyedele, the minister of state for finance.