Taiwo Oyedele has officially assumed office as Nigeria’s Minister of Finance and Coordinating Minister of the Economy, following a formal handover by his predecessor, Wale Edun.
The transition, which took place on Thursday evening, was confirmed in a statement issued by the Ministry’s Head of Information and Public Relations, Efe Ovuakporie. The handover was completed within the timeline set by President Bola Ahmed Tinubu.
In his inaugural address, Oyedele pledged to build on existing economic reforms while focusing on delivering measurable outcomes across critical sectors of the economy. He emphasised the importance of fiscal discipline, transparency, and improved service delivery as key priorities of his administration.
The new minister also expressed readiness to collaborate closely with the ministry’s management and staff to strengthen policy implementation and drive economic stability.
Oyedele commended Edun for his role in advancing Nigeria’s reform agenda, acknowledging his contributions to fiscal restructuring and macroeconomic coordination. He also thanked President Tinubu for the confidence reposed in him.
Senior officials in the ministry, including Permanent Secretary Raymond Omachi and Permanent Secretary (Special Duties) Mohammed Danjuma, assured the minister of full institutional support in executing government policies.
During Edun’s tenure, the ministry implemented several fiscal reforms aimed at boosting revenue generation, improving inter-agency coordination, and supporting broader economic transformation. However, the period was also marked by challenges, including funding constraints affecting ministries, departments, and agencies, as well as unresolved financial obligations to pensioners and contractors.
The leadership transition comes at a critical time as the federal government seeks to stabilise the economy amid inflationary pressures, debt servicing concerns, and ongoing structural reforms.
