Taiwo Oyedele has formally taken over as Nigeria’s Minister of Finance and Coordinating Minister of the Economy, succeeding Wale Edun after a handover ceremony.
The transition, which took place on Thursday evening, was confirmed in an official statement issued by the ministry’s Head of Information and Public Relations, Efe Ovuakporie. According to the statement, the process was completed within the timeline set by President Bola Ahmed Tinubu.
In his inaugural address, Oyedele pledged to consolidate ongoing economic reforms while delivering measurable results. He emphasized a commitment to fiscal discipline, transparency, and improved performance across key sectors of the economy.
He also signaled his willingness to work closely with ministry staff to enhance efficiency and service delivery.
Oyedele praised his predecessor, Edun, for his role in advancing Nigeria’s economic reform agenda and expressed gratitude to President Tinubu for entrusting him with the position.
Welcoming the new minister, Permanent Secretary Raymond Omachi and Permanent Secretary (Special Duties) Mohammed Danjuma assured him of the ministry’s full support.
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During Edun’s tenure, the ministry implemented several fiscal reforms aimed at increasing revenue and strengthening economic coordination. However, the period was also marked by challenges, including funding shortfalls that affected budget implementation across ministries, departments, and agencies, as well as unresolved obligations to pensioners and contractors.
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