Nigeria’s president, Bola Tinubu, has dismissed his finance minister as part of a cabinet reshuffle aimed at strengthening backing for his wide ranging economic reforms ahead of next year’s general elections.
Wale Edun, aged 70, has been replaced by Taiwo Oyedele, a former tax specialist at PricewaterhouseCoopers. Oyedele, 50, had only recently taken up a junior finance role in March and has been a key figure in designing and implementing the administration’s tax reforms introduced earlier this year.
The government did not provide an official reason for Edun’s removal. A statement from George Akume instructed that the transition process be completed by the end of the week.
In a related move, Tinubu also replaced Housing Minister Ahmed Musa Dangiwa with Muttaqha Rabe Darma.
The changes come as Nigeria faces economic challenges including rising inflation, currency instability, and the effects of recent fiscal reforms. Analysts suggest Oyedele’s appointment signals the administration’s intention to maintain momentum on its reform agenda while improving execution.
Edun, who previously served as finance commissioner during Tinubu’s tenure as Lagos governor, had been central to several policy initiatives. These included directing all petroleum revenues into the federation account to reduce leakages, a move that limited deductions by the Nigerian National Petroleum Company Limited. He also supported efforts to audit the company amid longstanding concerns over transparency.
There had been earlier speculation about Edun’s exit following reports of health issues last year, though officials at the time downplayed the concerns.
Edun had also cautioned about the risks of high interest rates in developing economies, warning they could undermine reform efforts.
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