JUST IN: Senate Confirms Taiwo Oyedele as Tinubu’s Finance Minister

Nigeria’s Senate has approved the nomination of Taiwo Oyedele as Minister of State for Finance under the administration of President Bola Tinubu, following a screening session that tested his plans for fiscal reforms and economic management.

The confirmation came after lawmakers concluded deliberations during the Committee of the Whole, where Senate President Godswill Akpabio announced the decision through a voice vote, formally clearing Oyedele for the ministerial position.

With the approval, Oyedele is set to assume office as Minister of State for Finance, replacing Doris Uzoka-Anite, who has been reassigned within the federal cabinet.

During the screening, senators questioned the nominee extensively on Nigeria’s fiscal outlook, economic reforms, and strategies to strengthen revenue generation. 

The engagement lasted more than two hours before lawmakers moved to confirm his appointment.

Addressing the chamber, Oyedele described the nomination as an opportunity to contribute to Nigeria’s economic transformation.

“This appointment represents a call to serve the country at a time when the economy requires bold fiscal reforms and innovative policy solutions,” he said. 

“My professional experience across government institutions, international organisations and private sector platforms has prepared me to support policies that strengthen public finances.”

He added that the responsibility ahead goes beyond personal achievements, noting that Nigeria’s economic challenges require coordinated policy actions and long-term planning.

According to him, improving fiscal governance, strengthening tax systems, and promoting sustainable revenue sources would remain central priorities if confirmed.

President Tinubu had earlier forwarded Oyedele’s name to the Senate for confirmation shortly after announcing a cabinet reshuffle that moved Uzoka-Anite to a different portfolio in government.

Before his nomination, Oyedele served as chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, a role in which he oversaw the development of sweeping changes to Nigeria’s tax structure.

The reform process, which began shortly after his appointment to the committee in July 2023, involved extensive consultations with stakeholders across the public and private sectors.

Although the proposals initially faced resistance from some quarters, the revised tax framework eventually came into force on January 1, introducing measures designed to modernise tax administration and widen the country’s revenue base.

Analysts believe the reforms are expected to strengthen government finances while also improving the investment climate by simplifying compliance procedures for businesses operating in Nigeria.

During his appearance before lawmakers, Oyedele expressed appreciation to the president for the nomination and thanked the Senate for considering his confirmation.

“I am grateful for the confidence placed in me and honoured to present my ideas before this distinguished chamber,” he said. 

“Working together, we can build a stronger fiscal system that supports economic growth and national development.”