Dr. Taiwo Oyedele, the chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has been nominated by President Bola Tinubu to be the minister of state for finance.
Dr. Doris Anite-Uzoka, who was transferred to the Ministry of Budget and National Planning as Minister of State—her third position in the administration—is replaced by Oyedele.
According to a statement released by his special advisor on information and strategy, Bayo Onanuga, the president sent a letter to Senate President Godswill Akpabio on Tuesday requesting confirmation of Oyedele’s nomination.
Oyedele, a resident of Ikaram, Akoko, Ondo State, chaired the Presidential Committee on Fiscal Policy and Tax Reforms, which changed Nigeria’s tax structure, until Tinubu appointed him as a minister.
Through the Presidential Committee on Fiscal Policy and Tax Reforms, the 50-year-old economist, accountant, and public policy specialist oversaw the extensive reform of Nigeria’s tax system.
The committee was established in August 2023 and produced four executive bills that offered major reforms, such as zero income tax for Nigerians making ₦800,000 or less a year, and combined over 60 levies into fewer than ten statutes.
Small firms with annual revenue under N50 million were also exempt from capital gains tax, development levy, and corporation income tax under the Tax Reform Acts, which went into effect on January 1, 2026.
Additional provisions include a five-year corporate tax vacation for agricultural businesses, a 50% tax credit for companies recruiting new staff for three years, and a 50% deduction for salary increases to the lowest-paid employees.
After earning a Higher National Diploma in Accountancy and Finance from Yaba College of Technology, Oyedele went on to Oxford Brookes University to pursue a Bachelor of Science in Applied Accounting.
Additionally, he finished executive education courses at Yale University, the Gordon Institute of Business Science, the Harvard Kennedy School, and the London School of Economics.
Oyedele joined PricewaterhouseCoopers in 2001 and worked his way up to become the Africa Tax Leader and Fiscal Policy Partner before being appointed head of the tax reform committee.
He is currently a visiting scholar at the Lagos Business School and a professor at Babcock University in Ogun State.
Oyedele is expected to supervise the execution of the tax reforms he supported in his capacity as Minister of State for Finance, especially as the government works to strengthen economic reforms and increase revenue generation.
Before being appointed Minister of State for Finance, Anite-Uzoka was Minister of State for Industry, Trade, and Investment. She is being redeployed to the Ministry of Budget and National Planning.
Oyedele will be sworn in to take on his ministerial responsibilities when the Senate reviews and approves his candidacy in the upcoming weeks.
Fiscal policy, revenue mobilization, debt management, and economic planning are all under the purview of the Finance Ministry, which is presently headed by substantive minister Wale Edun.
