President Bola Ahmed Tinubu has approved a minor cabinet reshuffle that will see Wale Edun step down as Minister of Finance and Coordinating Minister of the Economy, with Taiwo Oyedele taking over the portfolio.
According to a memo signed by the Secretary to the Government of the Federation, George Akume, Edun and the Minister of Housing and Urban Development, Ahmed Musa Dangiwa, have been directed to leave the Federal Executive Council, with their replacements already named.
Edun has been asked to hand over to Oyedele, who until now served as Minister of State for Finance. Oyedele will assume office as Minister of Finance and Coordinating Minister of the Economy.
Similarly, Dangiwa is to hand over to Muttaqha Rabe Darma, who has been named ministerial nominee and minister 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 complete the handover process. “All handing over and taking over processes should be completed on or before close of business on Thursday, 23rd April, 2026,” the memo stated.
The memo did not indicate the future roles of the outgoing ministers.
Explaining the decision, Akume said: “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 added that the President exercised his powers under Sections 147 and 148 of the Constitution of the Federal Republic of Nigeria (1999, as amended) in approving the reshuffle.
President Tinubu thanked Edun and Dangiwa for their service and wished them well in their future endeavors. He also assured cabinet members that “the process of reinvigoration shall be continuous.”
Wale Edun was appointed Minister of Finance and Coordinating Minister of the Economy in 2023. He previously served as Lagos State Commissioner for Finance under Tinubu during his tenure as governor. An experienced financial expert, Edun holds a Bachelor’s degree in Economics from the University of London and a Master’s degree in Economics from the University of Sussex, England. Before his ministerial appointment, he was Chairman of Chapel Hill Denham Group and had served as an Executive Director at the former Investment Banking & Trust Company Limited, now Stanbic IBTC Bank.
Taiwo Oyedele was appointed Minister of State for Finance after serving as Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms. The 50-year-old public policy expert, accountant, and economist is a former fiscal policy partner and Africa Tax Leader at PricewaterhouseCoopers (PwC), where he began his career in 2001. He attended Yaba College of Technology for his Higher National Diploma in Accountancy and Finance and earned a BSc in Applied Accounting from Oxford Brookes University. He has also completed executive programmes at the London School of Economics, Yale University, the Gordon Institute of Business Science, and the Harvard Kennedy School.
President Tinubu swore Oyedele in as Minister of State for Finance at the Presidential Villa on Monday, March 16, 2026, telling him at the time: “You fit the bill.”
The reshuffle marks the latest adjustment to the President’s cabinet as the administration pushes to deliver on its economic and governance agenda.
