President has sworn in as Minister of State for Finance at the in Abuja.

The ceremony took place on Monday afternoon, shortly after the Senate confirmed Oyedele’s appointment through a voice vote following a two-hour screening session. Senate President formally announced the confirmation.

Background and experience

Oyedele, 50, hails from Ikaram, Akoko, in and brings over two decades of experience in fiscal policy and tax administration. He previously served as Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, which overhauled Nigeria’s tax system.

The committee produced four executive bills—, , , and —which consolidated over 60 taxes into fewer than 10 statutes and introduced reforms such as zero income tax for Nigerians earning N800,000 or less.

These reforms, signed into law by President Tinubu on June 26, 2025, also exempted small businesses with turnovers below N50 million from company income tax, capital gains tax, and withholding tax, while providing incentives for employment and wage growth.

Career and education

Before joining the tax reform committee, Oyedele spent 22 years at , rising to Fiscal Policy Partner and Africa Tax Leader. He holds a Higher National Diploma in Accountancy and Finance from and a BSc in Applied Accounting from .

He has also completed executive programs at the , , , and . Oyedele currently serves as a professor at and is a visiting scholar at the .

Transition and remarks

Oyedele succeeds Dr. Doris Uzoka-Anite, who has been redeployed to the Ministry of Budget and National Planning. During his Senate screening, Oyedele described his appointment as a “call to serve at a critical time” for Nigeria’s fiscal management, emphasizing his commitment to economic transformation and fiscal governance.

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President Bola Ahmed Tinubu swore in Taiwo Oyedele as the Minister of State for Finance on Monday.

The ceremony took place at the Presidential Villa in Abuja, following Oyedele’s confirmation by the Senate just days earlier.

Tinubu Swears In Oyedele at Aso Rock

Officials held the swearing-in around 2:30 pm at the State House. Senior staff attended the brief ceremony.

With this appointment, Oyedele joins the Federal Executive Council to help implement the government’s economic and fiscal policies.

Oyedele Expected to Drive Fiscal Reforms

An economist, accountant, and public policy expert from Ondo State, Oyedele brings a strong background in finance.

He spent 22 years at PwC, rising to Fiscal Policy Partner and Africa Tax Leader. Additionally, he has taught at Babcock University and Lagos Business School.

Prior to this role, Oyedele chaired the Presidential Committee on Fiscal Policy and Tax Reforms.

During his tenure, he developed policies that simplified Nigeria’s tax system and increased government revenue.

Analysts expect him to drive fiscal reforms and strengthen financial governance in his new role.

Background on the Appointment

Earlier this month, President Tinubu adjusted his cabinet, moving Doris Uzoka-Anite from the Ministry of Finance to the Ministry of Budget and Economic Planning.

Oyedele contributes decades of experience in finance, taxation, and economic policy to the ministry.

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The two-day event, held at the prestigious Transcorp Hilton in Abuja, carries the theme Ensuring Value Creation in State-Owned Enterprises (SOEs) through Better Corporate Governance. It represents a significant step toward improving Nigeria’s public sector performance. Moreover, it supports the country’s ambitious goal of achieving a $1 trillion economy.

In his opening address, Dr. Shamsuddeen Usman, Chairman of the Board of Directors of MOFI, emphasized the importance of effective corporate governance. According to him, it is a key driver of economic growth. He also highlighted that good governance ensures accountability and transparency.

Additionally, the Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, reiterated the government’s commitment. He stated that President Tinubu’s administration is focused on addressing inefficiencies in the public sector. These inefficiencies, he noted, continue to challenge economic advancement.

Dr. Doris Uzoka-Anite, the Honourable Minister of State for Finance, conveyed a goodwill message. She reaffirmed the government’s commitment to strengthening corporate governance frameworks within SOEs. This, she noted, is essential for achieving optimal performance.

Dr. Ndiame Diop, the World Bank’s Country Director for Nigeria, also addressed participants. He stressed that improved governance is a critical element of sustainable development.

In his keynote address titled “Making SOEs Engines of Development Through Better Corporate Governance: An International Perspective,” Dr. Ishmael Yamson, Chairperson of the Board at Ishmael Yamson & Associates, explored global trends. He discussed how improved governance leads to enhanced performance in state-owned enterprises.

Indeed, Nigeria’s journey towards a $1 trillion economy is filled with challenges. However, initiatives like the MOFI Corporate Governance Forum show a strong commitment to reform. The event offered a platform for stakeholders to share strategies for better governance, improved performance, and the transformation of SOEs into engines of economic development.

As MOFI transitions from a passive asset custodian to an active asset manager, its new role is clear. The Ministry is positioning itself as a strategic enabler of economic growth. Ultimately, it aims to make Nigeria’s public enterprises key players in building a prosperous future.

Ubong Usoro

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