President Bola Ahmed Tinubu has approved a minor cabinet reshuffle of the Federal Executive Council, resulting in the removal of the Minister of Finance and Coordinating Minister for the Economy, Mr Wale Edun, and the Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa.
The changes were announced on Tuesday through a memo signed by the Secretary to the Government of the Federation, Senator George Akume, and made public by his Special Adviser on Media and Publicity, Yomi Odunuga. According to the directive, Edun has been ordered to hand over to Mr Taiwo Oyedele, who previously served as Minister of State in the ministry and has now been elevated to the position of Minister of Finance and Coordinating Minister for the Economy . In the housing ministry, Dr Muttaqha Rabe Darma has been named as ministerial nominee and minister designate for the Housing and Urban Development Ministry, with Dangiwa directed to hand over to the Minister of State in the ministry.
The memo stated that all handing over and taking over processes must be completed on or before the close of business on Thursday, 23rd April, 2026 . Senator George Akume explained the rationale behind the President’s decision, saying, “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”.
The Secretary to the Government of the Federation added that President Tinubu approved the cabinet reshuffle in exercise of the powers conferred on him by Sections 147 and 148 of the Constitution of the Federal Republic of Nigeria (1999, as amended) . The memo also conveyed the President’s appreciation to the outgoing ministers for their service to the nation while wishing them the best in all their future endeavours . Senator George Akume further noted that the President assured all cabinet members that the reinvigoration process shall be continuous.
Edun, a respected investment banker and long-time ally of the President, had been central to navigating Nigeria’s economic reforms, including fuel subsidy removal and foreign exchange unification . His tenure, however, faced persistent challenges such as high inflation, naira volatility, and public discontent over rising living costs . Oyedele, who was appointed as Minister of State for Finance in March 2026, is known for chairning the Presidential Committee on Fiscal Policy and Tax Reforms, which delivered landmark recommendations aimed at simplifying Nigeria’s tax system . Many observers view his elevation as a clear indication that revenue mobilisation and fiscal discipline will now take centre stage in the administration’s economic agenda.
