Nigeria’s Senate has confirmed the appointment of Taiwo Oyedele as Minister of State for Finance under the administration of Bola Ahmed Tinubu.
The confirmation came on Wednesday, after lawmakers approved the nomination by voice vote during plenary.
The announcement was made by the Senate President, Godswill Akpabio, following the Committee of the Whole’s consideration of the nomination.
Oyedele will replace Doris Uzoka-Anite, who has been redeployed to serve as Minister of State for Budget and National Planning as part of the President’s cabinet reshuffle.
The confirmation followed an extensive screening session during which senators questioned the nominee for over two hours on his experience and vision for Nigeria’s fiscal management.
Responding to the lawmakers, Oyedele described his nomination as Minister of State for Finance as a call to serve the country at a critical time.
“With over two decades of experience working with national governments, multilateral institutions, and global corporations, my journey across the private sector, academia, and public policy has focused on fiscal governance and economic transformation,” the 50-year-old told senators.
“However, this moment is not about personal accomplishments; it is a call to serve at a critical time when Nigeria faces significant fiscal challenges and remarkable opportunities.”
He also expressed appreciation to the President and the Senate for the confidence placed in him.
“I am deeply honoured to appear before this distinguished chamber today. I thank President Bola Ahmed Tinubu, GCFR, for the confidence reposed in me through this nomination, and I thank the Senate for the opportunity to share my vision,” the public policy expert, accountant, and economist told the lawmakers.
President Tinubu had earlier forwarded Oyedele’s name to the Senate for confirmation in accordance with Section 147(2) of the 1999 Constitution.
Before his appointment, Oyedele served as Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, where he spearheaded major efforts to overhaul Nigeria’s tax system.
The committee, inaugurated in 2023, introduced a comprehensive tax reform programme aimed at simplifying Nigeria’s complex tax structure, reducing the number of taxes imposed by federal and state authorities, and improving revenue generation.
Nigeria’s tax-to-GDP ratio remains among the lowest in the world—about 10.8 per cent—forcing the government to rely heavily on borrowing to fund public expenditure.
The reform agenda championed by Oyedele seeks to broaden the tax base, streamline tax administration and create a more business-friendly environment capable of attracting both domestic and foreign investment.
With his confirmation by the Senate, Oyedele is expected to work closely with the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, as the administration continues its fiscal and economic reforms.
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