President Bola Ahmed Tinubu has approved a cabinet reshuffle, appointing Taiwo Oyedele as the new Minister of Finance and Coordinating Minister of the Economy, in a move aimed at strengthening economic management.
The decision, conveyed in a memo from the Office of the Secretary to the Government of the Federation (SGF) and signed by George Akume, confirmed the exit of former finance minister, Wale Edun, as well as the Minister of Housing and Urban Development, Ahmed Musa Dangiwa, from the Federal Executive Council (FEC).
Oyedele, who previously served as Minister of State for Finance, has been directed to assume office immediately, taking charge of coordinating the nation’s economic policies at a critical phase of ongoing reforms.
In a related development, the President nominated Muttaqha Rabe Darma as Minister of Housing and Urban Development, subject to confirmation by the National Assembly, while Dangiwa is to hand over to the Minister of State pending the completion of the process.
The SGF directed that all handover formalities be concluded on or before April 23, 2026, noting that the reshuffle is designed to improve policy alignment and enhance governance delivery.
Akume said the changes were in line with the President’s constitutional powers under Sections 147 and 148 of the 1999 Constitution (as amended), and part of broader efforts to reposition the administration for more effective economic management.
The President also commended the outgoing ministers for their service, wishing them well in their future endeavours.
Analysts say Oyedele’s elevation signals a strategic shift within the government’s economic team, placing greater responsibility on him to drive coordination and sustain momentum in Nigeria’s fiscal and structural reforms.
