Taiwo Oyedele Takes Over as Finance Minister

ABUJA, NIGERIA — Taiwo Oyedele has formally taken over as Minister of Finance and Coordinating Minister of the Economy, vowing to build on recent gains and push economic reforms further.

In a statement issued on Friday, Oyedele commended his predecessor, Wale Edun, for laying a solid foundation for economic stabilisation during a challenging period.

The new minister described Nigeria as standing at a critical juncture, where the focus must now shift to converting policy steps into real improvements in the lives of ordinary 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,” Oyedele stated.

He outlined plans to boost productivity and growth by creating a more predictable and investor-friendly environment built on policy consistency and clarity.

Oyedele stressed the need for stronger fiscal discipline through transparent and prudent handling of public funds, according to the statement.

Revenue optimisation and fair taxation will stay at the heart of government efforts, with emphasis on harmonising revenue systems, widening the tax net, and easing pressure on vulnerable groups.

The tax expert highlighted the importance of better coordination across government tiers and institutions to ensure policies deliver maximum impact.

He also pointed to public-private partnerships as vital for driving development, noting that collaboration with the private sector would improve data-driven decisions and implementation.

Oyedele underscored that good policies alone are not sufficient, stressing the need for disciplined execution, accountability, and results that can be measured.

The minister expressed his willingness to partner with all stakeholders in government and the private sector to speed up growth and create a more stable, inclusive economy.

President Bola Tinubu had on April 21 relieved Wale Edun of his duties as Minister of Finance and Coordinating Minister of the Economy, appointing Oyedele—who previously served as Minister of State for Finance—in his place.

As Oyedele assumes this pivotal role, his commitment to continuity and deeper reforms signals a determined push to turn Nigeria’s economic stabilisation efforts into lasting gains for citizens, NaijaChoice News reports.