Oyedele elevated to economy chief as Nigeria faces N159 trillion debt burden ahead of 2027 polls
ABUJA, April 21, 2026 (GLOBAL ECHOS )
President Bola Tinubu abruptly dismissed Nigeria’s Finance Minister Wale Edun on Tuesday, replacing him with Taiwo Oyedele in a cabinet reshuffle that analysts say signals mounting dissatisfaction with the government’s economic management as the country heads toward general elections in January 2027.
Oyedele, previously Minister of State for Finance and a former senior partner at PwC and chairman of the presidential fiscal policy and tax reform committee, was directed to assume the title of Minister of Finance and Coordinating Minister of the Economy with immediate effect. The Minister of Housing and Urban Development, Ahmed Dangiwa, was also removed, with Muttaqha Rabe Darma named as his successor pending Senate confirmation.
Secretary to the Government of the Federation George Akume said the changes were aimed at “strengthening cohesion and synergy in governance” under the administration’s Renewed Hope Agenda, citing constitutional provisions that vest appointment powers in the presidency.
Edun departed after returning from international engagements in Washington, according to sources close to the matter, and was not formally briefed on his dismissal in advance. In a farewell statement, he pointed to improved macroeconomic indicators during his tenure, including stronger growth and easing inflation, while urging continuity in reform efforts.
Oyedele inherits a formidable portfolio. Nigeria’s public debt stands at approximately N159.28 trillion, debt servicing costs consume the bulk of government revenues, and a cost-of-living crisis has deepened since fuel subsidies were removed. The incoming minister will also be expected to oversee economic policy coordination ahead of a politically sensitive electoral season.
