President Bola Tinubu has approved the appointment of Taiwo Oyedele as the new minister of finance and coordinating minister of the economy.
His appointment follows the removal of the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Minister of Housing and Urban Development, Ahmed Dangiwa, from their cabinet positions.
Yomi Odunuga, special adviser to the secretary to the government of the Federation, issued a statement on Tuesday, citing a letter signed by the secretary to the government of the Federation, George Akume.
According to the letter, Taiwo Oyedele will replace Edun as the Minister of Finance and Coordinating Minister of the Economy.
Dr. Muttaqha Darma has also been appointed as the minister-designate for Housing and Urban Development.
The memo ordered outgoing ministers to complete handover procedures with their respective successors or overseeing officials.
It said that all handover and takeover activities must be completed by the close of business on Thursday, April 23, 2026.
Akume explained the decision, saying the adjustments were intended to improve collaboration and strengthen delivery across critical areas of the economy under the Renewed Hope Agenda.
“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,” Akume stated.
He stated that Tinubu acted in accordance with his constitutional duties under Sections 147 and 148 of the 1999 Constitution (as amended).
The SGF also expressed the President’s gratitude to the departed ministers for their contribution to the nation and wished them success in their future endeavors, emphasizing that the process of cabinet reinvigoration would continue.
The announcement further stated that Taiwo Oyedele was appointed Minister of State for Finance in March 2026, while Edun was among the ministers appointed on August 16, 2023.
