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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.

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.

The memo directed Dangiwa to hand over to the Minister of State in the ministry.

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.

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. 

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). 

The legislation laid the foundation for a comprehensive overhaul of Nigeria’s tax administration system.