President Bola Tinubu has sacked Wale Edun as Minister of Finance and appointed Taiwo Oyedele as the new substantive finance minister, in a major shake-up of Nigeria’s economic management team aimed at strengthening fiscal reforms and boosting investor confidence.
This is contained in a statement issued by the Secretary to the Government of the Federation (SGF), Sen. George Akume.
A statement issued by Mr Yomi Odunuga, Special Adviser, Media and Publicity to the SGF, Akume said that two cabinet members, Mr Wale Edun and Mr Ahmed Dangiwa, would leave the council, while their replacements had been named.
He said that Edun, who served as Minister of Finance and Coordinating Minister for the Economy, had been directed to hand over to Mr Taiwo Oyedele, now elevated as Minister of Finance and Coordinating Minister of the Economy.
Oyedele was formerly Minister of State in the ministry.
The SGF also announced Mr Muttaqha Rabe Darma as ministerial nominee and Minister-designate for the Ministry of Housing and Urban Development.
According to him, Dangiwa has been directed to hand over to the Minister of State in the ministry.
Akume said all handing-over processes should be completed on or before close of business on April 23, 2026.
He explained that the changes were aimed at strengthening cohesion and synergy in governance, as well as enhancing impactful economic delivery to Nigerians under the Renewed Hope Agenda.
The SGF said the President exercised his powers in line with Sections 147 and 148 of the 1999 Constitution (as amended).
He added that the President appreciated the outgoing ministers for their services and wished them success in their future endeavours.
Akume said Tinubu also assured cabinet members that the process of reinvigoration would be continuous.