Taiwo Oyedele has officially taken over as Minister of Finance and Coordinating Minister of the Economy, following a formal handover from 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. He noted that the process was concluded in line with the timeline set by President Bola Ahmed Tinubu.
In his inaugural address, Oyedele said he intends to build on existing economic reforms while focusing on delivering measurable results across key sectors.
He pledged to work closely with the ministry’s leadership and staff to improve service delivery, with a strong emphasis on fiscal discipline, transparency, and better economic outcomes.
He also commended Edun for his contributions to the country’s reform efforts and expressed gratitude to the president for the opportunity to serve.
Welcoming the new minister, Permanent Secretary Raymond Omachi and Permanent Secretary (Special Duties) Mohammed Danjuma assured him of the ministry’s full support and cooperation in implementing government policies.
During Edun’s tenure, the ministry pursued fiscal reforms aimed at boosting revenue, improving coordination, and supporting broader economic restructuring.
However, officials noted that the period also came with challenges, including funding constraints affecting ministries, departments, and agencies, as well as outstanding obligations to some pensioners and contractors.