Tinubu Axes Edun, Installs Oyedele as Finance Minister in Major Cabinet Shake-Up

President Bola Ahmed Tinubu has effected a significant shake-up of Nigeria’s economic leadership, relieving Mr. Wale Edun of his duties as Minister of Finance and Coordinating Minister of the Economy, and appointing fiscal policy expert, Mr. Taiwo Oyedele, as his successor.

The development, confirmed in an official memo issued on Tuesday and signed by the Secretary to the Government of the Federation (SGF), Senator George Akume, forms part of a broader cabinet restructuring aimed at strengthening governance and accelerating economic reforms.

Oyedele, who until now served as Minister of State for Finance, will assume full responsibility for the nation’s fiscal management and economic coordination.

In the same exercise, Dr. Muttaqha Rabe Darma was named Minister-designate for the Ministry of Housing and Urban Development, further signaling a reconfiguration of key sectors within the Federal Executive Council.

According to the SGF, all affected ministers have been directed to conclude handover processes to their successors or supervising officials on or before Thursday, April 23, 2026.

Akume explained that the changes were designed to enhance synergy within government and improve service delivery in line with the administration’s Renewed Hope Agenda.

“These changes are aimed at strengthening cohesion and achieving more impactful economic delivery for Nigerians,” 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.

The presidency also expressed appreciation to the outgoing ministers for their service to the nation, noting that efforts to reinvigorate the cabinet would continue.

Oyedele, an economist and former chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, is expected to bring his extensive experience in tax and fiscal restructuring to bear as the government intensifies efforts to stabilize the economy and boost revenue generation.

The reshuffle marks one of the most consequential adjustments to Tinubu’s economic team since the inception of his administration in 2023.