Nigeria’s Senate has officially confirmed the appointment of Taiwo Oyedele as Minister of State for Finance under the administration of President Bola Tinubu, marking a significant development in the country’s economic leadership.
The announcement was made by Senate President Godswill Akpabio following a voice vote by lawmakers during the Committee of the Whole session.
The confirmation came after an extensive screening process in which senators spent more than two hours questioning the nominee on his experience, policy direction, and plans for Nigeria’s fiscal future.
Oyedele will replace Doris Uzoka-Anite, who has been reassigned as Minister of State for Budget and National Planning.
Addressing the Senate during the screening, Oyedele described his nomination not as a personal milestone but as a call to serve Nigeria at a pivotal moment in its economic journey.
“With more than two decades of experience working with national governments, multilateral institutions, and global corporations, my career across the private sector, academia, and public policy has been dedicated to fiscal governance and economic transformation,” he told lawmakers.
“However, this moment is not about personal achievements. It is about answering the call to serve at a time when Nigeria faces both significant fiscal challenges and extraordinary opportunities.”
The 50-year-old public policy expert, economist, and chartered accountant also expressed gratitude to President Bola Ahmed Tinubu for the confidence placed in him, describing his appearance before the Senate as a great honour.
Prior to his ministerial nomination, Oyedele served as Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms. In that role, he led the development of a comprehensive overhaul of Nigeria’s tax framework aimed at modernizing the country’s fiscal system.
Although he was appointed to lead the committee in July 2023, the reform process spanned over two years of consultations, policy drafting, and legislative engagement. Despite initial resistance from some stakeholders, the new tax laws eventually came into effect on January 1, ushering in what many analysts describe as a new era for Nigeria’s tax administration.
The reforms are designed to strengthen revenue generation, streamline tax administration, improve the ease of doing business, and enhance Nigeria’s attractiveness to both domestic and foreign investors.
With his confirmation now secured, Oyedele is expected to play a key role in shaping fiscal policy and supporting the government’s broader economic reform agenda.
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