Taiwo Oyedele has officially taken over 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 of Finance’s Head of Information and Public Relations, Efe Ovuakporie.
According to the statement, the process was concluded in line with the directive of President Bola Ahmed Tinubu.
In his inaugural address, Oyedele pledged to build on existing economic reforms while focusing on delivering measurable results across key sectors.
He emphasized the importance of fiscal discipline, transparency, and improved economic performance, noting that his administration would prioritize efficiency in public financial management.
The new minister also expressed his readiness to work closely with ministry officials to enhance service delivery and drive policy implementation.
He commended Edun for his contributions to Nigeria’s economic reform agenda and thanked the President for the opportunity to serve.
Senior officials, including Permanent Secretary Raymond Omachi and Permanent Secretary (Special Duties) Mohammed Danjuma, welcomed Oyedele and assured him of the ministry’s full cooperation in advancing government policies.
During Edun’s tenure, the ministry implemented fiscal reforms aimed at boosting revenue generation, improving coordination, and supporting broader economic restructuring.
However, the period also faced challenges, including funding constraints affecting government agencies and outstanding obligations to pensioners and contractors.
The leadership transition marks a new phase in Nigeria’s economic management as the government continues efforts to stabilize and grow the economy.