Oyedele Officially Takes Over As Finance Minister

According to Ireporter Online, Taiwo Oyedele has officially taken over as Nigeria’s Minister of Finance and Coordinating Minister of the Economy following a formal handover ceremony from his predecessor, Wale Edun.

The transition, which took place on Thursday evening, was confirmed in a statement issued by the Ministry’s Head of Information and Public Relations, Efe Ovuakporie. The statement noted that the process was completed within the timeframe directed by President Bola Ahmed Tinubu.

In his inaugural remarks, Oyedele pledged to sustain ongoing reforms while placing strong emphasis on delivering measurable economic outcomes. He stated that his administration would prioritise fiscal discipline, transparency, and improved performance across key sectors of the economy.

He further expressed readiness to work closely with staff of the ministry to enhance efficiency and service delivery. The new minister also commended Wale Edun for his contributions to Nigeria’s economic reform efforts and appreciated President Tinubu for entrusting him with the responsibility.

Welcoming the minister, the Permanent Secretary, Raymond Omachi, alongside the Permanent Secretary for Special Duties, Mohammed Danjuma, assured him of the ministry’s full cooperation and support.

During Edun’s tenure, the ministry implemented several fiscal reforms aimed at strengthening revenue generation and improving economic coordination. However, the period was also marked by challenges, including difficulties in budget implementation, funding constraints across ministries, departments and agencies, as well as outstanding obligations to pensioners and contractors.