NIGERIA: President Tinubu Swears In Taiwo Oyedele As Minister Of State For Finance

By Onoja Baba, Nigeria 

President Bola Ahmed Tinubu has sworn in Taiwo Oyedele as the new Minister of State for Finance at a brief ceremony held in the President’s office at the Aso Rock Presidential Villa, Abuja, on Monday afternoon.

The oath of office was administered around 2:30 pm, with Oyedele accompanied by his wife.

He arrived at the Villa shortly after 2:09 pm, dressed in a navy blue suit, while his wife wore white traditional attire.

The appointment follows Oyedele’s confirmation by the Senate on Wednesday, via a voice vote after an over-two-hour screening session. Senate President Godswill Akpabio announced the confirmation following the adoption of the Committee of the Whole’s recommendation.

President Tinubu nominated Oyedele on March 3, 2026, in a letter to the Senate President, requesting approval under Section 147(2) of the 1999 Constitution (as amended). He replaces Dr. Doris Uzoka-Anite, who has been redeployed as Minister of State for Budget and National Planning, her third portfolio in the current administration.

Oyedele, 50, from Ikaram, Akoko in Ondo State, brings over two decades of expertise in fiscal policy and tax administration.

He previously chaired the Presidential Committee on Fiscal Policy and Tax Reforms, inaugurated in August 2023, which drove a major overhaul of Nigeria’s tax system.

The committee produced four executive bills, the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and Joint Revenue Board (Establishment) Bill, that consolidated over 60 taxes into fewer than 10 statutes.

These were passed by the National Assembly in 2025 and signed into law by President Tinubu on June 26, 2025, taking effect January 1, 2026.

Key reforms include zero income tax for earners of N800,000 or less annually, exemptions for small businesses with turnover below N50 million from company income tax, capital gains tax, and withholding tax, plus incentives for employment and wage growth.

Oyedele spent 22 years at PricewaterhouseCoopers (PwC), rising to Fiscal Policy Partner and Africa Tax Leader. He holds a Higher National Diploma in Accountancy and Finance from Yaba College of Technology, a BSc in Applied Accounting from Oxford Brookes University, and has completed executive programs at the London School of Economics, Yale University, Gordon Institute of Business Science, and Harvard Kennedy School.

He is currently a professor at Babcock University and a visiting scholar at Lagos Business School.

During his Senate screening, Oyedele described the role as “a call to serve at a critical time when Nigeria faces significant fiscal challenges and remarkable opportunities,” highlighting his focus on fiscal governance and economic transformation across private, academic, and public sectors.

The swearing-in ceremony was witnessed by top government officials, underscoring the administration’s emphasis on leveraging expertise to sustain and implement ongoing fiscal reforms for improved revenue gener

ation and economic stability.