Tinubu sacks finance minister Wale Edun, appoints tax expert Taiwo Oyedele

President Bola Tinubu has sacked Finance Minister Wale Edun and appointed tax expert Taiwo Oyedele as his replacement, without giving a reason. Edun had overseen key fiscal reforms, while Oyedele recently helped drive Nigeria’s tax overhaul. A formal handover has been ordered.

Nigeria’s President Bola Tinubu has removed Finance Minister Wale Edun from office and appointed tax expert Taiwo Oyedele as his successor, in a significant cabinet change tied to ongoing economic reforms.
Edun, 70, is a long-time associate of Tinubu and previously served as finance commissioner in Lagos State between 1999 and 2004 during Tinubu’s governorship. He had been part of the federal cabinet since Tinubu assumed office, where he played a central role in managing key fiscal policies and economic restructuring efforts.
He has now been replaced by Taiwo Oyedele, 50, a former PricewaterhouseCoopers tax specialist who has been deeply involved in Nigeria’s recent tax reform programme. Oyedele was appointed a junior finance minister on March 16 and quickly became influential in shaping the administration’s tax overhaul, which came into effect at the beginning of the year.
A statement issued by the Secretary to the Government of the Federation announced Edun’s removal but did not provide any official reason for the decision. It also directed that all handover and takeover processes between the outgoing and incoming ministers be completed by the close of business on Thursday.
Edun’s time in office included several major reforms, particularly in the management of Nigeria’s public finances. One of his key initiatives was ensuring that all revenues from petroleum operations were paid directly into the federation account, a measure intended to reduce leakages in the system. This policy also restricted the Nigerian National Petroleum Company Limited from making direct deductions from oil revenues before remittance.
He also publicly expressed concern about the impact of high interest rates on developing economies, warning that such conditions could undermine broader economic reform efforts and slow down growth.