President Bola Tinubu has approved a minor reshuffle of the Federal Executive Council, removing the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Minister of Housing and Urban Development, Ahmed Dangiwa, from their cabinet positions.
A statement on Tuesday by the Special Adviser, Media and Publicity to the Secretary to the Government of the Federation, Yomi Odunuga, said the development was contained in a memo signed by the Secretary to the Government of the Federation, George Akume.
According to the memo, Taiwo Oyedele has been appointed as the new Minister of Finance and Coordinating Minister of the Economy. Also appointed is Dr Muttaqha Darma as Minister-designate for Housing and Urban Development.
The memo directed the outgoing ministers to complete handover processes to their respective successors or supervising officials. It stated that all handing-over and taking-over activities must be concluded on or before the close of business on Thursday, April 23, 2026.
Explaining the decision, Senator Akume said the changes were aimed at improving coordination and strengthening delivery across key sectors of the economy under the Renewed Hope Agenda.
“These changes are aimed at strengthening cohesion, synergy in governance as well as achieving more impactful delivery on the economy to Nigerians, through the Renewed Hope Agenda,” Akume stated.
He added that President Tinubu acted in line with his constitutional powers as provided under Sections 147 and 148 of the 1999 Constitution (as amended).
The SGF also conveyed the President’s appreciation to the outgoing ministers for their service to the nation and wished them well in their future endeavours, noting that the process of cabinet reinvigoration would remain continuous.
Taiwo Oyedele was appointed as the Nigerian Minister of State for Finance by President Bola Tinubu in March 2026, while Edun was among the ministers appointed on August 16, 2023.
Last week, the outgoing minister, Edun, led the Federal Government’s delegation to Washington DC, United States, for the Spring Meetings of the World Bank/International Monetary Fund.
During one of the press briefings at the meetings, he declared that Nigeria was in a sound position to withstand global economic shocks stemming from the Middle East crisis or other issues.
Edun said, “Nigeria came to this meeting with a clear message: our reforms are durable, self-sustaining. We are more resilient to global shocks, and we are focused on inclusive growth. Due to the reforms undertaken under the leadership of His Excellency, Mr President, Nigeria is well-positioned to withstand external shocks, such as the one we are witnessing at this time.
“Across our engagements this week, there has been strong recognition and commendation that Nigeria’s reform programme is strengthening our economic fundamentals and restoring confidence. This has placed us in a stronger and better position to withstand the ongoing situation described as the Israeli–US–Iran conflict.
“With the economy now operating a market-reflective foreign exchange regime and market-based pricing for petroleum products, adjustments are occurring relatively smoothly—without distorted controls, unsustainable subsidies, or a rapid depletion of reserves, based on the data available to the Central Bank of Nigeria.”
Edun noted that this improved resilience was “widely acknowledged throughout the week at our various meetings, including at the International Monetary Fund, the World Bank, and in our engagements with other development partners and bilateral counterparts.”
