President Bola Tinubu has expressed confidence in the capacity of newly appointed Minister of State for Finance, Taiwo Oyedele, describing him as well-suited for the role.
Speaking during the swearing-in ceremony at the Presidential Villa in Abuja on Monday, the President said the decision to assign Oyedele to the finance portfolio was straightforward, given his track record and expertise in fiscal policy.
Tinubu noted that the new minister brings dedication and determination to a role he described as both demanding and critical, especially at a time when Nigeria is striving to stabilise its economy while pursuing sustainable growth.
He acknowledged the complexities involved in managing fiscal policy, stressing that achieving economic expansion alongside stability remains a major challenge for the government.
Despite this, he expressed confidence that Oyedele possesses the competence required to navigate the task.
The President also commended Oyedele for his prior contributions to reforming Nigeria’s tax system, which he described as outdated before recent interventions.
He further appreciated the support of the minister’s family, particularly his wife, in enabling his public service.
In his acceptance speech, Oyedele assured Nigerians of his commitment to delivering his best in efforts to strengthen the country’s economy.
Oyedele described his appointment as both an honour and a significant responsibility at a critical time for the nation.
He expressed gratitude to the President and Nigerians for the trust placed in him, noting that public service at such a high level demands dedication and accountability.
Oyedele emphasised that beyond policy formulation, the real challenge lies in effective implementation.
He stressed that reforms must go beyond documentation to achieve tangible results that impact the lives of citizens.
“I will give my very best at every point in time,” he said, adding that he is prepared to work collaboratively with officials at the Ministry of Finance to address economic challenges and maximise available opportunities.
The minister highlighted key priority areas, including revenue generation, efficient public spending, and fiscal sustainability.
He noted that improving government revenue is essential to meeting increasing demands on public resources at both federal and subnational levels.
He also underscored the importance of prudent expenditure, stating that government must ensure optimal value for every naira spent in order to meet the needs of citizens effectively.
On broader economic strategy, Oyedele pointed to the need for sound debt management and alignment of fiscal policies with other areas such as monetary and trade policies.
He added that Nigeria must remain responsive to global economic trends and geopolitical developments.
According to him, the goal is to position the country to better withstand economic pressures while leveraging both domestic and international opportunities for growth.
Oyedele’s appointment followed his nomination earlier in March 2026 to replace Doris Uzoka-Anite, who was reassigned as Minister of State for Budget and National Planning.
His nomination was subsequently confirmed by the Senate after a screening process.
During his confirmation hearing, Oyedele highlighted his extensive experience in global tax systems and business reforms, noting that his work across multiple countries has equipped him with insights that can be adapted to Nigeria’s economic environment.
Before his appointment, he served as chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, where he led efforts that resulted in the development and passage of key tax-related legislation.
The bills, which were later signed into law by President Tinubu, are aimed at restructuring Nigeria’s tax administration and improving revenue generation.
Oyedele, a seasoned accountant and public policy expert, previously held a leadership role at PricewaterhouseCoopers (PwC), where he worked for over two decades.
He also has academic affiliations with institutions such as Babcock University and Lagos Business School.
With his inauguration, expectations are high that the new minister will play a central role in advancing fiscal reforms and strengthening Nigeria’s economic framework.
