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From Juliana Taiwo-Obalonye, Abuja
President Bola Tinubu has urged the newly sworn-in Minister of State for Finance, Mr. Taiwo Oyedele, to bring his wealth of experience to bear in driving Nigeria’s fiscal reforms toward greater stability and sustained growth.
Administering the oath of office at the Presidential Villa, Abuja, yesterday, Tinubu described Oyedele as a very dedicated and highly determined individual, who has rewritten the entire tax policy of this country that was obsolete, archaic and fundamentally against every progressive thinker.
The President commended the former head of the Presidential Fiscal Policy and Tax Reforms Committee for his pivotal role in transforming Nigeria’s tax framework and reaffirmed confidence in his ability to deliver on the administration’s economic agenda.
“It didn’t take much for me to decide where you fit and where you need to be to further help the country,” Tinubu said.
“It is a very challenging job to look at the fiscal policy and responsibility that comes with it, at a time that economic stability is being experienced, but without exponential growth. You fit the bill.” The President also acknowledged Mrs. Oyedele’s support, thanking her for understanding the demands of public service.
“This is an additional responsibility and I hope you will continue to encourage him and support him adequately,” he added.
Speaking shortly after the swearing-in, Oyedele expressed gratitude to the President for the opportunity to serve, describing his appointment as both a privilege and a responsibility.
“They say the reward for doing a good job is more work, and I think it’s always a privilege to have the opportunity to serve your country, especially at the highest level,” he said. “I do not take the trust for granted. I’m grateful to Mr. President and also to the Nigerian people, particularly the stakeholders who have been supportive of the work we’ve done so far.”
He noted that while policy formulation was important, the real challenge lay in implementation. “Reforms are only as good as the paper on which they are written. What is really important is diligent execution, and that is the next phase, moving from policy formulation to execution. We’re excited and ready for the challenges ahead,” Oyedele added.
Responding to a question on how he intends to justify the confidence President Tinubu reposed in him, he said: “If you give your best at every point in time, even when it’s not good enough, you won’t have any regret. So, one thing I can promise Mr. President and Nigerians is that I’ll always give my very best. I’m confident that with the team and leadership at the Ministry of Finance, no challenge will be too big to overcome. There are challenges, no doubt, but there are also great opportunities for our country.”
Outlining his early focus areas, the new minister emphasised revenue mobilisation, efficient public spending and fiscal sustainability as top government priorities.
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“The Ministry of Finance will not operate in isolation,” he said. “Our priorities are the government’s priorities, ensuring adequate revenue to meet public needs at both federal and sub-national levels, improving spending efficiency, managing debt prudently and aligning fiscal policies with broader economic and trade strategies.”
He also stressed the importance of proactive policymaking in an interconnected global economy.
“We don’t live in isolation. With global crises and shifting geopolitics, we must constantly think ahead on how to position Nigeria to manage headwinds and seize opportunities both locally and internationally,” he stated.
The brief swearing-in ceremony, held at about 2:30pm in the President’s office, was attended by a few senior aides and members of Oyedele’s family. The new minister, dressed in a navy blue suit, arrived at the Villa around 2:09pm with his wife, who wore a white traditional outfit.
Oyedele’s appointment came five days after the Senate confirmed his nomination on March 12, following a rigorous two-hour screening session. The confirmation, announced by Senate President Godswill Akpabio, was based on President Tinubu’s nomination letter dated March 3, in accordance with Section 147(2) of the 1999 Constitution.
A native of Ikaram-Akoko in Ondo State, the 50-year-old technocrat brings over two decades of experience in fiscal policy, taxation and public finance. Before his appointment, he chaired the Presidential Committee on Fiscal Policy and Tax Reforms, inaugurated in August 2023, which undertook a comprehensive overhaul of Nigeria’s tax architecture.
Under his leadership, the committee drafted four major reform bills, comprising the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill and Joint Revenue Board (Establishment) Bill, which consolidated over 60 disparate tax laws into fewer than 10. The reforms also introduced incentives such as zero income tax for Nigerians earning ₦800,000 or less annually and exemptions for small businesses with an annual turnover below ₦50 million.
Signed into law by President Tinubu on June 26, 2025, the new tax regime took effect on January 1, 2026, marking a major shift in Nigeria’s fiscal landscape. Oyedele previously spent 22 years at PricewaterhouseCoopers, where he rose to become Fiscal Policy Partner and Africa Tax Leader.
He holds a Higher National Diploma in Accountancy and Finance from Yaba College of Technology and a B.Sc. in Applied Accounting from Oxford Brookes University, UK.
He has also completed executive courses at the London School of Economics, Yale University, the Gordon Institute of Business Science and Harvard Kennedy School.
A professor at Babcock University and visiting scholar at Lagos Business School, Oyedele replaces Dr. Doris Uzoka-Anite, who was recently redeployed to the Ministry of Budget and National Planning as Minister of State, her third posting under the Tinubu administration.
During his Senate screening, Oyedele described his appointment as a call to serve at a time of great economic challenges and opportunities, pledging to advance fiscal governance and inclusive economic transformation.
