Oyedele replaces Edun as Minister of Finance

• Ex-minister lists achievements
• President nominates Darma to take over from dropped Housing Minister Dangiwa

Exactly 32 months after he was sworn in, the Coordinating Minister of the Economy and Minister of Finance, Adebayo Olawale Edun, was yesterday replaced.

Assuming the position is the erstwhile Minister of State for Finance, Mr Taiwo Oyedele.

Oyedele joined the Federal Executive Council (FEC) on March 16, when he took the oath of office inside the President’s office at Aso Villa.

Wale Edun was appointed Minister of Finance and Coordinating Minister of the Economy by President Bola Ahmed Tinubu on August 16, 2023.

He was sworn in on August 21, 2023, and left office on April 21.

Also dropped yesterday in a minor cabinet shake-up by President Tinubu was the Minister of Housing and Urban Development, Ahmed Musa Dangiwa, who will be replaced by Muttaqha Rabe Darma, after screening and confirmation by the Senate.

Both Edun and Dangiwa thanked the President for the opportunity to serve.

Edun listed his achievements, indicating that he gave his best in the service of the country.

The Secretary to the Government of the Federation (SGF), Senator George Akume, announced the cabinet rejig in a statement.

According to the statement made available by the Special Adviser to the SGF on Media and Publicity, Yomi Odunuga, Edun is to hand over to Oyedele, who becomes the substantive Minister of Finance and Coordinating Minister of the Economy.

Dangiwa was directed to hand over to the Minister of State in the Ministry of Housing and Urban Development, Yusuf Abdullahi Ata.

The President also directed that the handing-over and taking-over processes be concluded on or before the close of business tomorrow.

Shedding light on the reshuffle, Akume said it was meant to “strengthen cohesion, synergy in governance as well as achieve more impactful delivery on the economy to Nigerians, through the Renewed Hope Agenda.”

He added that President Tinubu exercised his constitutional powers under Sections 147 and 148 of the 1999 Constitution (as amended) in effecting the changes.

Read Also: 100 million captured in tax net, says Oyedele

The President thanked the outgoing ministers for their service to the nation and wished them success in their future endeavours.

Akume also conveyed the President’s assurance to members of the cabinet that the process of reinvigoration of government would be continuous in line with the administration’s policy objectives.

Edun returned from the World Bank/International Monetary Fund (IMF) Spring Meetings in New York yesterday.

Edun thanks Tinubu, reflects on economic reforms

Edun thanked President Tinubu for the opportunity to serve the country at a critical time.

He noted that his journey in the administration began as Head of the Presidential Transition Committee, followed by his role as Special Adviser on Monetary Policy, before he was appointed Finance Minister.

He explained that the administration came into office at a time of serious economic challenges but has since worked across different levels of government to implement reforms aimed at stabilising the economy and promoting long-term growth.

In a statement, Edun said: “We have worked collectively across government to advance critical reforms that stabilised the macroeconomic environment, strengthened fiscal sustainability, and laid the foundation for inclusive and long-term growth.”

He said the impact of these measures is already visible, with economic growth rising from about two per cent to over four per cent, while inflation has declined from 35 per cent to 15 per cent.

Edun attributed these improvements to coordinated policy actions and renewed confidence among investors.

He added that the progress recorded was the result of joint efforts involving members of the FEC, state governors, and partners in both the public and private sectors.

Edun said: “I am proud of what we achieved alongside colleagues in government and our partners, whose work continues to support the nation’s economic transformation.”

The minister noted that more work still lies ahead.

Edun, who thanked local and international stakeholders for their cooperation and support, described economic reform as a continuous process.

Dangiwa hails Tinubu for service opportunity

Dangiwa expressed gratitude to President Tinubu for the opportunity to serve in the FEC.

He described his tenure as both a privilege and a call to national service, adding that he was honoured to have been entrusted with leading reforms in Nigeria’s housing and urban development sector.

Dangiwa said: “I sincerely thank Mr President for the confidence he reposed in me to serve as Minister of Housing and Urban Development.

“It has been a rare privilege to contribute to policies and programmes aimed at expanding access to affordable housing for Nigerians.”

He noted that under the Tinubu administration, the ministry recorded progress in repositioning the housing sector as a driver of economic growth, job creation and social inclusion.

He alluded to key initiatives, including the Renewed Hope Housing Programme, strengthened public-private partnerships in housing delivery, and reforms in land administration and housing finance.

He thanked FEC members, government officials, heads of housing institutions, development partners, and ministry staff for their support during his tenure.

Dangiwa said he would ensure a smooth handover in line with the President’s directive, expressing confidence in the incoming leadership’s ability to sustain and build on the achievements recorded so far.

He reaffirmed his commitment to national development and pledged continued support for efforts aimed at advancing housing, infrastructure, and economic growth in the country.

It was the third reshuffle approved by the President since the administration took off on May 29, 2023.

On January 23, 2024, the Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, who was suspended over alleged misconduct on January 8, was sacked.

Other ministers sacked in the second year of the administration were Uju Kennedy Ohanenye (Minister of Women Affairs), Lola Ade-John (Minister of Tourism), Prof. Tahir Mamman (Minister of Education), Abdullahi Muhammad Gwarzo (Minister of State, Housing and Urban Development), and Dr Jamila Bio Ibrahim (Minister of Youth Development).

On December 1 last year, Alhaji Abubakar Badaru was removed as Minister of Defence.

He was replaced by Gen. Christopher Musa, former Chief of Defence Staff.