Tinubu removes Wale Edun in cabinet reshuffle, elevates Oyedele as finance minister
President Bola Ahmed Tinubu has removed Wale Edun as minister of finance and coordinating minister of the economy, in a cabinet reshuffle that signals a recalibration of the country’s economic leadership amid ongoing reforms.
President Bola Ahmed Tinubu has removed Wale Edun as minister of finance and coordinating minister of the economy, in a cabinet reshuffle that signals a recalibration of the country’s economic leadership amid ongoing reforms.
Edun’s exit marks the most consequential change in the Federal Executive Council (FEC), with Taiwo Oyedele elevated to replace him in overseeing Africa’s most populous economy.
The move comes as Nigeria continues to grapple with inflationary pressures, weak currency and the social impact of sweeping fiscal adjustments introduced under Tinubu’s administration.
The decision was confirmed in a memo issued by the Office of the Secretary to the Government of the Federation and signed by George Akume, the SGF. The statement also announced the removal of Ahmed Musa Dangiwa from his role as minister of housing and urban development.
While Edun departs the cabinet, his successor Oyedele is a familiar figure within the finance ministry, having previously served as the chairman of the presidential fiscal policy and tax reforms committee and recently, the minister of state, finance.
His elevation suggests a preference for continuity in policy direction, even as Tinubu reshapes the team responsible for executing his “Renewed Hope Agenda.”
Analysts say the change at the finance ministry underscores the administration’s sensitivity to mounting economic challenges. Since taking office, Tinubu has pursued reforms including the removal of fuel subsidies and the unification of exchange rates—measures that have drawn praise from investors but intensified cost-of-living pressures for many Nigerians.
The reshuffle also introduces a new figure in the housing sector, with Muttaqha Rabe Darma named as ministerial nominee and designate for the ministry of housing and urban development.
Dangiwa has been directed to hand over to the minister of state pending the completion of formal processes.
Housing remains a critical but underperforming area of government policy, with Nigeria facing a significant housing deficit amid rapid urbanisation.
The appointment of Darma is expected to bring renewed focus to a sector the administration has identified as key to economic growth and job creation.
According to the government memo, all handover processes must be completed by April 23, indicating an accelerated transition timeline. Akume said the reshuffle is aimed at “strengthening cohesion and synergy in governance” while improving delivery across key sectors.
Tinubu, exercising his constitutional authority, thanked the outgoing ministers for their service and signaled that further changes could follow as part of a broader effort to “reinvigorate” the cabinet.
While the reshuffle is relatively limited in scope, Edun’s removal stands out as a pivotal moment for the administration’s economic team.
Investors and policy watchers will be closely monitoring whether the leadership change translates into adjustments in policy execution—or reinforces the current reform trajectory at a time when economic management remains under intense scrutiny.
