Tinubu Reshuffles Cabinet as Oyedele Becomes Finance Minister

By Folarin Adeyemi Aluko

President Bola Tinubu approves cabinet changes as Taiwo Oyedele takes over as Minister of Finance and Coordinating Minister of the Economy in a move aimed at strengthening governance and economic delivery under the Renewed Hope Agenda.

President Bola Tinubu has approved a minor reshuffle in the Federal Executive Council (FEC), resulting in significant changes in key ministries, including Finance and Housing, as part of ongoing efforts to improve governance efficiency and economic coordination.

The development was contained in a memo signed by the Secretary to the Government of the Federation (SGF), Senator George Akume, who confirmed that the restructuring is aimed at strengthening cohesion, improving synergy among ministries, and enhancing policy delivery under the administration’s Renewed Hope Agenda.

According to the memo, Wale Edun, who previously served as Minister of Finance and Coordinating Minister of the Economy, has been directed to step aside, with Taiwo Oyedele now appointed to take over the strategic portfolio. Oyedele, who previously served as Minister of State in the Ministry, is expected to assume full responsibility for steering Nigeria’s economic direction at a time of ongoing fiscal reforms and macroeconomic adjustments.

In a related development, Ahmed Dangiwa, the Minister of Housing and Urban Development, is also affected by the reshuffle. The memo stated that Muttaqha Rabe Darma has been nominated and designated as his replacement, while Dangiwa has been directed to hand over to the Minister of State within the ministry.

The SGF further directed that all handover and takeover processes across the affected ministries must be completed on or before the close of business on Thursday, 23rd April, 2026, ensuring a smooth transition and continuity in governance operations.

Explaining the rationale behind the decision, Akume noted that the President’s action is part of a broader strategy to reposition the Federal Executive Council for improved service delivery. He said the reshuffle is designed to deepen coordination among key economic and infrastructural ministries, while ensuring more measurable impact on the lives of Nigerians.

“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 statement read.

Akume further emphasized that President Tinubu acted within his constitutional authority, as provided under Sections 147 and 148 of the Constitution of the Federal Republic of Nigeria (1999 as amended), which empowers the President to appoint, assign, and reassign ministers as deemed necessary for effective governance.

The statement also conveyed the President’s appreciation to the outgoing ministers for their service to the nation, acknowledging their contributions during their time in office. Tinubu, according to the memo, wished them success in their future endeavours and assured Nigerians that the process of cabinet reinvigoration would remain continuous as part of efforts to enhance performance across government institutions.

The reshuffle is expected to attract widespread attention, particularly given the sensitivity of the Finance Ministry, which plays a central role in fiscal policy, debt management, and economic stabilization. Analysts are likely to watch closely how the new leadership under Oyedele navigates existing economic challenges, including inflationary pressures, revenue reforms, and investor confidence.

Similarly, the housing sector transition comes at a time when the government is pushing for increased access to affordable housing and urban renewal projects across the country.

The Federal Government has maintained that such adjustments within the cabinet are part of a broader performance-driven approach aimed at ensuring that ministers remain aligned with national priorities and deliver measurable outcomes.