TINUBU SWEARS IN TAIWO OYEDELE AS MINISTER OF STATE FOR FINANCE
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By Aishat Momoh. O.
President Bola Tinubu on Monday swore in Taiwo Oyedele as Minister of State for Finance at the Aso Rock Presidential Villa.
The brief swearing-in ceremony took place at the President’s office at about 2:30 p.m., according to a source present at the event.
The development comes five days after the Nigerian Senate confirmed Oyedele’s nomination following a screening that lasted more than two hours.
Earlier on Monday, Oyedele and his wife were seen arriving at the Presidential Villa at about 2:09 p.m., clearing security checks before proceeding to the President’s office for the ceremony.
The Senate had on March 12 confirmed his appointment through a voice vote after members of the Committee of the Whole adopted the recommendation announced by the Senate President, Godswill Akpabio.
President Tinubu had earlier forwarded Oyedele’s nomination to the Senate in a letter dated March 3, requesting confirmation in line with Section 147(2) of the 1999 Constitution.
Oyedele, 50, hails from Ikaram in Akoko, Ondo State, and brings more than two decades of experience in fiscal policy and tax administration to the role.
Before his appointment, he served as Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, which led a comprehensive overhaul of Nigeria’s tax system.
The committee, inaugurated in August 2023, produced four major bills — the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill — which were passed by the National Assembly in 2025.
President Tinubu signed the bills into law on June 26, 2025, with the Tax Reform Acts taking effect from January 1, 2026. The reforms consolidated more than 60 taxes into fewer than 10 statutes and introduced measures such as zero income tax for Nigerians earning ₦800,000 annually or less.
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The reforms also exempted small businesses with annual turnover below ₦50 million from company income tax, capital gains tax and withholding tax, while introducing incentives to encourage employment and wage increases.
Before his public sector role, Oyedele spent 22 years at PricewaterhouseCoopers, where he rose to become Fiscal Policy Partner and Africa Tax Leader.
He holds 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.
Oyedele has also completed executive education programmes at the London School of Economics, Yale University, Gordon Institute of Business Science and the Harvard Kennedy School.
He currently serves as a professor at Babcock University and a visiting scholar at the Lagos Business School.
Oyedele replaces Doris Uzoka-Anite, who has been redeployed to the Federal Ministry of Budget and National Planning as Minister of State, marking her third portfolio in the current administration.
During his Senate screening, Oyedele described his nomination as “a call to serve at a critical time when Nigeria faces significant fiscal challenges and remarkable opportunities.”
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