President Bola Ahmed Tinubu has dismissed Wale Edun as Minister of Finance and Coordinating Minister for the Economy, replacing him with Taiwo Oyedele, who until Monday served as Minister of State in the same ministry.
A memo signed by the Secretary to the Government of the Federation, Senator George Akume, announced the removal of Edun alongside Housing and Urban Development Minister Arc. Ahmed Musa Dangiwa, while naming their respective replacements.
Oyedele has been directed to take over from Edun as Minister of Finance and Coordinating Minister of the Economy, while Muttaqha Rabe Darma has been named as ministerial nominee and minister-designate for the Housing and Urban Development Ministry. Dangiwa was directed to hand over to the Minister of State in that ministry.
According to the memo, all handing over and taking over processes are to be completed on or before the close of business on Thursday, April 23, 2026.
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The cabinet reshuffle, though described as “minor” by the presidency, represents a significant repositioning at the critical finance portfolio — coming at a time when Nigerians continue to suffer severe economic hardship, with inflation, naira depreciation, and fuel costs remaining unresolved crises under Tinubu’s administration.
Justifying the decision, Akume said the changes were “aimed at strengthening cohesion, synergy in governance as well as achieving more impactful delivery on the economy to Nigerians, through the Renewed Hope Agenda.”
He added that the President, in approving the reshuffle, exercised his constitutional powers as conferred by Sections 147 and 148 of the 1999 Constitution, as amended, and thanked the outgoing ministers for their service while assuring all cabinet members that “the process of reinvigoration shall be continuous.”
Edun, a close ally and longtime associate of President Tinubu, had overseen Nigeria’s economy since the inception of the administration in May 2023 a tenure marked by the controversial removal of the petrol subsidy, the unification of the foreign exchange market, and successive rounds of economic turbulence that saw the naira lose significant value against the dollar.
His removal raises fresh questions about internal dissatisfaction with economic management at the highest levels of the Tinubu government.
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