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Taiwo Oyedele has been sworn in as Nigeria’s Minister of State for Finance, pledging to prioritise revenue mobilisation and fiscal discipline as the country confronts pressing economic and public finance challenges.
In a statement following his swearing-in, Oyedele expressed gratitude to Bola Ahmed Tinubu for appointing him and to the Senate for confirming his nomination.
“Today, I had the honour of being sworn in as Minister of State for Finance of the Federal Republic of Nigeria,” he said.
“I am sincerely grateful to President Bola Ahmed Tinubu, GCFR, for the trust and confidence placed in me, and to the Senate for confirming my nomination.”
He described the appointment as a call to national service at a critical moment for the country’s economy.
“This appointment is not merely a personal milestone; it is a call to greater service,” Oyedele said.
“Nigeria faces important fiscal challenges, but also immense opportunities. The decisions we make in public finance today will shape the prosperity, stability, and well-being of our country for generations to come.”
Oyedele is widely known for previously serving as chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, where he led efforts to overhaul Nigeria’s tax framework and improve government revenue generation.
Nigeria’s tax-to-GDP ratio remains among the lowest globally, a situation analysts say limits the government’s ability to finance infrastructure, social services and economic development.
In his new role, Oyedele said he would continue to prioritise policies that strengthen the country’s fiscal capacity.
“In my new role, I will focus on supporting efforts to strengthen revenue mobilisation, promote fiscal discipline, and ensure that public resources translate into real improvements in the lives of Nigerians,” he said.
The appointment positions him to work directly within the finance ministry structure alongside the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
Oyedele emphasised the need for broad collaboration to achieve sustainable economic reforms.
“I look forward to working more closely with the Honourable Minister of Finance and Coordinating Minister of the Economy, colleagues across government, the National Assembly, private sector, and development partners to advance the mission of financing Nigeria for sustainable development,” he said.
Reflecting on the responsibilities of his new position, Oyedele said integrity and dedication would guide his approach to public service.
“Public service demands integrity, humility, and dedication. I step into this responsibility with a deep sense of duty and commitment to Nigeria and the Nigerian people,” he said.
Oyedele also thanked supporters who had encouraged him throughout his career, adding: “Thank you to everyone who has supported and encouraged me along this journey. I will be counting on your continued support.”
His appointment comes at a time when the Nigerian government is pursuing sweeping fiscal reforms aimed at boosting revenue collection, improving tax administration and stabilising public finances amid ongoing economic pressures.
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𝐑𝐞𝐬𝐩𝐨𝐧𝐬𝐞 𝐭𝐨 𝐊𝐏𝐌𝐆: 𝐎𝐛𝐬𝐞𝐫𝐯𝐚𝐭𝐢𝐨𝐧𝐬 𝐨𝐧 𝐍𝐢𝐠𝐞𝐫𝐢𝐚’𝐬 𝐍𝐞𝐰 𝐓𝐚𝐱 𝐋𝐚𝐰𝐬
Tinubu Shakes Up Economic Team, Nominates Taiwo Oyedele as Minister of State for Finance