By Abdulsamad Abdulmalik
President Bola Tinubu has removed the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, appointing Taiwo Oyedele as his replacement in a fresh cabinet shake-up.
The development was announced on Tuesday in a statement by the Secretary to the Government of the Federation (SGF), Senator George Akume, who also confirmed the removal of the Minister of Housing and Urban Development, Ahmed Muda Dangiwa.
According to the statement, Edun has been directed to hand over to Oyedele, while Dangiwa will hand over to Muttaqha Rabe Darma, a minister-designate.
The Presidency did not state reasons for the changes, noting that the decision was taken in line with the President’s constitutional powers under Sections 147 and 148 of the 1999 Constitution (as amended).
Edun had been a key figure in the administration’s “Renewed Hope” economic reforms, including the removal of fuel subsidy and exchange rate liberalisation.
He had also cited improvements in economic performance, stating that growth rose to 4.07 per cent in the fourth quarter of 2025 from about 2 per cent in 2023, while inflation dropped to 15 per cent from 22.04 per cent.
Despite these figures, Nigerians have continued to face high living costs, rising food prices and increased transportation expenses.
His removal comes amid global economic uncertainties, following the International Monetary Fund’s downward revision of Nigeria’s growth forecast to 4.1 per cent from 4.3 per cent.
Edun had recently attended the World Bank/IMF Spring Meetings in Washington, where he maintained that Nigeria would not seek a bailout from the IMF and assured of policy stability.
