President Bola Tinubu has approved a minor cabinet reshuffle, directing the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, to hand over his responsibilities as part of efforts to reposition the administration.
The decision, conveyed through a memo signed by the Secretary to the Government of the Federation, George Akume, also affected the Minister of Housing and Urban Development, Ahmed Musa Dangiwa.
Both officials are to exit the Federal Executive Council, with successors already announced.
According to the directive, Edun is to transfer duties to Taiwo Oyedele, who previously served as Minister of State for Finance and will now assume the role of Minister of Finance and Coordinating Minister of the Economy.
Similarly, Dangiwa is expected to hand over to Muttaqha Darma, who has been named ministerial nominee and designate for the Ministry of Housing and Urban Development.
A statement issued by Yomi Odunuga, media aide to the SGF, confirmed that both outgoing ministers have been instructed to conclude the transition process promptly.
The memo stipulated that “all handing over and taking over processes should be completed on or before the close of business on Thursday, April 23, 2026.”
No immediate details were provided regarding the next assignments or roles for the outgoing ministers.
Explaining the rationale behind the changes, Akume said the reshuffle is intended to strengthen coordination within government and enhance policy delivery.
“These changes are aimed at strengthening cohesion and synergy in governance, as well as achieving more impactful delivery on the economy to Nigerians, through the Renewed Hope Agenda,” he stated.
He added that the President exercised his constitutional powers under Sections 147 and 148 of the 1999 Constitution (as amended) in effecting the changes.
President Tinubu expressed appreciation to the outgoing ministers for their service, wishing them success in their future endeavours.
He also reassured cabinet members that efforts to revitalise governance would remain ongoing, noting that “the process of reinvigoration shall be continuous.”
Profile: Wale Edun
Wale Edun was appointed Minister of Finance and Coordinating Minister of the Economy in 2023 at the start of the Tinubu administration.
Before his federal appointment, he served as Commissioner for Finance in Lagos State during Tinubu’s tenure as governor, where he played a key role in shaping fiscal policy.
An experienced financial expert, Edun has built a career spanning merchant banking, corporate finance, and international economics.
He holds a Bachelor’s degree in Economics from the University of London and a Master’s degree from the University of Sussex.
Prior to joining government, he was Chairman of Chapel Hill Denham Group, a prominent investment banking firm, and also served as an Executive Director at Investment Banking & Trust Company Limited, now Stanbic IBTC Bank.
Taiwo Oyedele, who now takes over the finance portfolio, previously served as Minister of State for Finance.
Before entering government, he chaired the Presidential Committee on Fiscal Policy and Tax Reforms, a role he was appointed to in July 2023 by President Tinubu.
A public policy expert, accountant, and economist, Oyedele has extensive experience in fiscal strategy and taxation.
He began his career at PricewaterhouseCoopers (PwC) in 2001, rising to the position of fiscal policy partner and Africa Tax Leader.
He studied at Yaba College of Technology, earning a Higher National Diploma in Accountancy and Finance, and later obtained a BSc in Applied Accounting from Oxford Brookes University.
Oyedele has also participated in executive education programmes at institutions including the London School of Economics, Yale University, the Gordon Institute of Business Science, and the Harvard Kennedy School.
His appointment is expected to reinforce the administration’s economic reform agenda as it seeks to stabilise and grow the Nigerian economy.
