President Bola Ahmed Tinubu has moved to strengthen Nigeria’s economic team with the nomination of Taiwo Oyedele as Minister of State for Finance. The announcement, made on Tuesday, March 3, 2026, signals a strategic effort to boost fiscal reforms and stabilize the nation’s economy.
In a formal letter to Senate President Godswill Akpabio, President Tinubu requested the Senate to screen and confirm Oyedele, a 50-year-old tax expert and economist, as a key member of his economic cabinet.
Oyedele, who hails from Ikaram-Akoko, is set to replace Dr. Doris Uzoka-Anite, now redeployed to the Ministry of Budget and National Planning. This marks Uzoka-Anite’s third portfolio since the administration began, reflecting a broader reshuffle aimed at accelerating fiscal reforms across the government.
Widely recognized for his transformative work as Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Oyedele led the drafting of four major tax reform bills designed to simplify Nigeria’s tax system and reduce the burden of multiple taxation on small businesses.
He has been a vocal advocate for raising Nigeria’s tax-to-GDP ratio from 10% to 18% within three years, prioritizing taxation on income and consumption rather than investment or poverty. Analysts say his appointment will ensure a seamless transition from policy design to execution within the Ministry of Finance.
Before joining public service, Oyedele spent 22 years at PricewaterhouseCoopers (PwC), rising to Fiscal Policy Partner and Africa Tax Leader. Academically, he holds a Higher National Diploma in Accountancy from Yaba College of Technology and a BSc in Applied Accounting from Oxford Brookes University.
He furthered his expertise through executive programs at the London School of Economics, Harvard Kennedy School, and Yale University. Oyedele also serves as an Associate Professor at Babcock University and a visiting scholar at Lagos Business School.
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The nomination comes at a critical time, coinciding with the rollout of Nigeria’s new tax laws, which Oyedele confirmed will reduce the tax burden for about 97% of Nigerians. The framework integrates capital gains tax with income tax and introduces exemptions for essential assets, including personal homes and small-scale shareholdings, aiming to create a more business-friendly environment. Financial experts believe his appointment will strengthen debt management, improve non-oil revenue generation, and support private sector growth.
As the Senate prepares for the screening exercise, the financial community has expressed optimism. Oyedele’s reputation for integrity and deep understanding of Nigeria’s fiscal landscape positions him as one of the most anticipated ministerial appointments of the year. If confirmed, he will work alongside the substantive Minister of Finance, Wale Edun, to oversee revenue mobilization and expenditure management during a pivotal period for the Nigerian economy.