President Bola Tinubu has officially sworn in Taiwo Oyedele as the new Minister of State for Finance, marking his entry into the Federal Executive Council. The brief ceremony was held on Monday at about 2:30 p.m. in the President’s office at the Aso Rock Villa, Abuja.
The event was attended by a few senior aides and family members. Before the oath-taking, Oyedele and his wife were seen arriving at the Villa at approximately 2:09 p.m.
The new minister wore a navy blue suit, while his wife appeared in an elegant white traditional outfit.
Oyedele’s appointment comes five days after the Senate confirmed his nomination through a voice vote. The confirmation, announced by Senate President Godswill Akpabio on March 12, followed a rigorous two-hour screening session.
Oyedele’s appointment comes five days after the Senate confirmed his nomination through a voice vote. The confirmation, announced by Senate President Godswill Akpabio on March 12, followed a rigorous two-hour screening session.
President Tinubu had earlier forwarded his nomination in a letter dated March 3, 2026, in accordance with Section 147(2) of the 1999 Constitution.
A native of Ikaram-Akoko in Ondo State, the 50-year-old fiscal policy expert brings over twenty years of experience in public finance and tax administration. Before his ministerial appointment, he chaired the Presidential Committee on Fiscal Policy and Tax Reforms, inaugurated in August 2023.
Under his leadership, the committee developed four major tax reform bills that consolidated Nigeria’s complex tax structure — reducing more than 60 disparate taxes into fewer than 10. The resulting legislation introduced key incentives such as zero income tax for Nigerians earning ₦800,000 or less annually and exemptions for small businesses generating under ₦50 million in turnover.
The four bills — the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and Joint Revenue Board (Establishment) Bill — were passed by the National Assembly in 2025 and signed into law by President Tinubu on June 26 of the same year. The new tax regime officially commenced on January 1, 2026.
Oyedele previously held a distinguished 22-year career at PricewaterhouseCoopers, rising to become Fiscal Policy Partner and Africa Tax Leader. His academic background includes 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, UK.
He has also undergone executive education at the London School of Economics, Yale University, the Gordon Institute of Business Science, and Harvard Kennedy School. Currently, he lectures at Babcock University and serves as a visiting scholar at the Lagos Business School.
Oyedele takes over from Dr. Doris Uzoka-Anite, who was recently redeployed to the Ministry of Budget and National Planning as Minister of State — her third portfolio under the Tinubu administration.
During his Senate screening, Oyedele expressed readiness to contribute to Nigeria’s fiscal management, describing his appointment as “a call to serve at a time of great economic challenges and opportunities.”