Minister of State, Taiwo Oyedele has assumed office as 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 by the ministry’s Head of Information and Public Relations, Efe Ovuakporie, who noted that the process was completed within the timeline set by President Bola Ahmed Tinubu.
In his inaugural remarks, Oyedele said he would build on ongoing economic reforms while placing emphasis on achieving measurable outcomes across key sectors.
He expressed commitment to working closely with the management and staff of the ministry to enhance service delivery, adding that his administration would prioritise fiscal discipline, transparency, and improved economic outcomes.
Oyedele also commended Edun for his contributions to the country’s reform agenda and thanked the President for the opportunity to serve.
Welcoming the new minister, the Permanent Secretary, Mr. Raymond Omachi, and Permanent Secretary, Special Duties, Mohammed Danjuma, assured him of the full support and cooperation of the ministry’s workforce in advancing government policies.
During Edun’s tenure, the ministry pursued fiscal reforms aimed at strengthening revenue generation, improving coordination, and supporting broader economic restructuring efforts.
Officials said the period also presented challenges in budget implementation, including funding constraints affecting ministries, departments, and agencies, as well as issues relating to outstanding obligations to some pensioners and contractors.