Abuja, Federal Capital Territory, Nigeria — Nigeria’s Senate, the upper chamber of the country’s National Assembly, has confirmed the nomination of economist and public policy expert Taiwo Oyedele as the Minister of State for Finance in the administration of President Bola Ahmed Tinubu, the President of the Federal Republic of Nigeria.
The confirmation was announced by Godswill Akpabio, President of the Senate of Nigeria and the presiding officer of the legislative chamber, after lawmakers approved the nominee through a voice vote during a plenary session held as the Committee of the Whole.
Oyedele is expected to replace Doris Uzoka-Anite, who previously served as Nigeria’s Minister of State for Finance but was recently reassigned within the federal cabinet to the position of Minister of State for Budget and National Planning.
The appointment followed Oyedele’s screening by senators earlier on Wednesday, during which lawmakers questioned him extensively about his experience and policy direction. The screening session lasted more than two hours before the chamber moved to confirm him as a minister-designate.
Speaking during the screening process, the 50-year-old economist described his nomination as an opportunity to contribute to national service at a critical moment for the country’s economy.
“With over two decades of experience working with national governments, multilateral institutions, and global corporations, my journey across the private sector, academia, and public policy has focused on fiscal governance and economic transformation,” the 50-year-old told senators.
“However, this moment is not about personal accomplishments; it is a call to serve at a critical time when Nigeria faces significant fiscal challenges and remarkable opportunities.”
President Tinubu nominated Oyedele earlier and formally transmitted his name to the Senate for legislative confirmation, a constitutional requirement before ministerial appointments can take effect in Nigeria’s presidential system of government.
Addressing the lawmakers during the session, Oyedele expressed appreciation to the president and members of the Senate for the opportunity to serve.
“I am deeply honoured to appear before this distinguished chamber today. I thank President Bola Ahmed Tinubu, GCFR, for the confidence reposed in me through this nomination, and I thank the Senate for the opportunity to share my vision,” the public policy expert, accountant, and economist told the lawmakers.
Before his ministerial nomination, Oyedele served as chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, a government advisory body created to overhaul Nigeria’s tax administration system and strengthen public revenue.
Okay News reports that the committee was tasked with reviewing Nigeria’s tax structure and recommending reforms aimed at modernising the country’s fiscal framework. Oyedele was appointed to lead the committee in July 2023, and the panel worked for more than two years to redesign major elements of Nigeria’s tax laws.
The reforms eventually led to the introduction of a new tax regime that took effect on Wednesday, January 1, 2025, after initial debates and resistance from some stakeholders across the country.
The new tax framework is designed to improve government revenue collection, simplify tax compliance for businesses, and strengthen the country’s investment climate for both domestic and international investors.
With his confirmation now completed by the Senate, Oyedele is expected to assume his new responsibilities at the Federal Ministry of Finance, where he will help shape Nigeria’s fiscal policy and economic reform agenda alongside senior government officials.
His appointment comes at a time when Nigeria, Africa’s most populous country and one of its largest economies, is pursuing structural reforms aimed at stabilising public finances and expanding economic growth.
