President Tinubu Swears In Taiwo Oyedele As Minister Of State For Finance

President Bola Tinubu on Monday officially swore in Taiwo Oyedele as Nigeria’s new Minister of State for Finance, during a brief ceremony held at the Presidential Villa in Abuja.

The oath of office was administered at the President’s office inside the Aso Rock Presidential Villa.

The development comes five days after the Nigerian Senate confirmed Oyedele’s nomination, clearing the way for his appointment into the Federal Executive Council.

The Senate had on March 12, 2026, approved Oyedele’s appointment following a screening session that lasted over two hours.

The confirmation was granted through a voice vote by lawmakers, after deliberations during plenary.

Announcing the decision, Godswill Akpabio, President of the Senate, confirmed that the upper legislative chamber adopted the recommendation of the Committee of the Whole, paving the way for Oyedele’s appointment.

President Tinubu had earlier forwarded Oyedele’s name to the Senate on March 3, 2026, formally requesting his confirmation in accordance with Section 147(2) of the 1999 Constitution of the Federal Republic of Nigeria.

In a letter addressed to Senate President Akpabio, the president urged lawmakers to expeditiously consider and approve the nomination, citing Oyedele’s expertise in fiscal policy and taxation.

Oyedele, 50, hails from Ikaram in Akoko area of Ondo State and is widely recognised for his extensive background in fiscal policy, taxation and public finance management.

Before his appointment as minister, he served as Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, a body established by the Tinubu administration to restructure Nigeria’s tax system.

The committee was inaugurated in August 2023 and was tasked with overhauling the country’s tax administration framework.

Under Oyedele’s leadership, the committee produced four major executive bills designed to simplify Nigeria’s tax structure and reduce the burden on individuals and businesses.
The bills included: Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill and Joint Revenue Board (Establishment) Bill.

The proposed reforms aimed to consolidate more than 60 different taxes into fewer than 10 statutes, significantly streamlining Nigeria’s complex taxation system.

After extensive debates and legislative scrutiny, the National Assembly passed the four controversial bills in 2025.
President Tinubu subsequently signed the tax reform bills into law on June 26, 2025, while the Tax Reform Acts officially came into effect on January 1, 2026.
Among the key provisions of the reforms was the introduction of zero income tax for Nigerians earning N800,000 or less annually, a measure aimed at protecting low-income earners.
The reforms also introduced several incentives for small businesses and job creation.
Under the new framework, small businesses with annual turnover below N50 million are exempted from company income tax, capital gains tax and withholding tax.
The legislation also includes incentives designed to encourage employment and wage increases across the private sector.
Before joining the federal government’s reform effort, Oyedele spent 22 years at the global consulting firm PricewaterhouseCoopers, where he rose through the ranks to become Fiscal Policy Partner and Africa Tax Leader.

With his appointment, Oyedele replaces Doris Uzoka-Anite, who has been redeployed to the Ministry of Budget and National Planning as Minister of State.