President Bola Ahmed Tinubu on Monday inaugurated fiscal policy expert Taiwo Oyedele as Nigeria’s new Minister of State for Finance during a brief ceremony at the State House in Abuja.
The swearing-in, which took place around 2:30 p.m. at the Presidential Office, followed the confirmation of his nomination by the Nigerian Senate last week.
Oyedele’s appointment comes amid ongoing efforts by the federal government to strengthen fiscal policy and boost revenue generation in Africa’s largest economy.
During his screening by the Senate, the economist pledged to support reforms aimed at improving government revenue, promoting more realistic budgeting and enhancing the overall fiscal management framework of the country.
President Tinubu had earlier transmitted Oyedele’s nomination to the Senate in a letter dated March 3, 2026, in accordance with Section 147(2) of the 1999 Constitution, which requires legislative approval for ministerial appointments.
Oyedele, a native of Ikaram-Akoko in Ondo State, is widely regarded as a leading expert in taxation and public finance, with over two decades of professional experience in fiscal policy.
Before his ministerial appointment, he chaired the Presidential Committee on Fiscal Policy and Tax Reforms, established by the Tinubu administration in August 2023 to review and restructure Nigeria’s tax system.
Under his leadership, the committee produced four key tax reform bills designed to simplify tax administration, enhance compliance and support economic growth.
The reforms introduced a number of incentives aimed at easing the tax burden on low-income earners and small businesses. These include zero income tax for Nigerians earning N800,000 or less annually, as well as tax exemptions for small enterprises with an annual turnover below N50 million.
The legislative proposals - the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill and the Joint Revenue Board (Establishment) Bill - were passed by the National Assembly of Nigeria in 2025.
They were subsequently signed into law by President Tinubu on June 26, 2025, paving the way for a new tax framework that took effect nationwide on January 1, 2026.
Prior to joining the federal government, Oyedele built an extensive career in the private sector. He spent 22 years at the global consulting firm PricewaterhouseCoopers (PwC), where he rose to become fiscal policy partner and Africa tax leader.
In that role, he advised governments, institutions and multinational corporations on taxation, fiscal policy and regulatory matters.
His academic qualifications include a Higher National Diploma in Accountancy and Finance from Yaba College of Technology and a Bachelor’s degree in Applied Accounting from Oxford Brookes University in the United Kingdom.
He has also participated in executive education programmes at several prestigious institutions, including the London School of Economics, Yale University, the Gordon Institute of Business Science and the Harvard Kennedy School.
Beyond his policy work, Oyedele is also active in academia. He lectures at Babcock University and serves as a visiting scholar at the Lagos Business School, where he contributes to research and teaching in taxation and fiscal policy.
Oyedele replaces Doris Uzoka-Anite, who was recently redeployed by President Tinubu to the Federal Ministry of Budget and National Planning as Minister of State.
The reassignment marks the third ministerial portfolio handled by Uzoka-Anite since the start of the Tinubu administration.
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