Drive exponential growth of economy as Finance Minister of State, Tinubu tasks Oyedele

“You have rewritten the entire tax policy of this country that was obsolete, archaic, and fundamentally against every progressive thinker. You are just a very dedicated and highly determined individual”, the President said.

The President added that Oyedele’s experience made him well suited for the responsibilities in the finance ministry at a time when Nigeria is transitioning from economic stabilisation to growth.

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“It didn’t take much for me to decide where you fit and where you need to be to further help the country. It is a very challenging job to look at fiscal policy and the responsibility that comes with it at a time when economic stability is being experienced but without exponential growth. It is always very difficult, but you fit the bill,” Tinubu said.

The President also acknowledged the sacrifices required for public service, congratulating Oyedele and his family for supporting his commitment to national service.

Speaking with journalists after the ceremony, Oyedele described his appointment as both a privilege and a responsibility, saying it offered an opportunity to move fiscal reforms from policy design to full implementation.

“The reward for doing a good job is more work. It is always a privilege to have the opportunity to serve your country, especially at the highest level, but even more fascinating at this critical juncture for our country”, he said.

He expressed gratitude to the President and Nigerians for the trust placed in him and pledged to give his best in the new role.

“One thing I can promise Mr. President and the Nigerian people is that I will give my very best at every point in time,” Oyedele said.

According to him, the key priorities of the Ministry of Finance include strengthening revenue mobilisation, improving spending efficiency, and ensuring fiscal sustainability.

He explained that government must optimise the value derived from every naira earned to meet the growing expectations of Nigerians.

“For every one naira that we earn, how can we optimise the value we get from it to meet the needs of our people?” he said, adding that fiscal policy must also align with monetary policy, trade policy and broader global economic realities.

Oyedele also stressed the importance of positioning Nigeria to better navigate global economic uncertainties while maximising opportunities for national development.

Ondo State Governor, Lucky Aiyedatiwa, who witnessed the ceremony, thanked President Tinubu for appointing Oyedele, describing him as one of the country’s leading experts in fiscal and tax policy.

The governor noted that Oyedele was not new to the nation’s tax reform process, having previously led a team of experts that reviewed Nigeria’s fiscal and tax regime, a process that eventually culminated in new legislation.

“For him to have been appointed for the execution of the same reform, I think Mr. President has done the right thing,” Aiyedatiwa said.

He added that the appointment was based on merit and professional competence rather than state affiliation.

“We thank Mr. President for considering this man not because he is from Ondo State but because he merits the job and deserves to be appointed,” the governor said.

Oyedele’s appointment is expected to strengthen the implementation of fiscal reforms aimed at boosting government revenue, improving public spending efficiency and sustaining Nigeria’s ongoing economic recovery.