By Cross Udo and Anthony Otaru, Abuja
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, is reportedly ill.
The development has prompted the Federal Government to reshuffle its delegation to the forthcoming 2025 World Bank and International Monetary Fund (IMF) Annual Meetings scheduled to begin in Washington, D.C, on October 13.
Although the Presidency confirmed that the Minister is “indisposed,” officials have not disclosed details of his health condition.
However, sources close to the ministry told ThisNigeria that Edun had been battling a “serious but manageable ailment” for several days.
In Edun’s absence, Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, has been designated to lead the Nigerian delegation to the high-profile Bretton Woods meetings.
A statement released on Sunday by Presidential spokesman, Bayo Onanuga, said Cardoso, who doubles as Nigeria’s alternate governor at both the IMF and the World Bank, will head the team in Washington.
Also on the delegation are the Minister of State for Finance, Dr Doris Uzoka-Anite, and other senior officials from the fiscal and monetary policy arms of government.
The week-long meetings will include the Development Committee Plenary on October 16 and the IMF’s International Monetary and Financial Committee session on October 17, alongside various policy dialogues, regional briefings, and press conferences on global economic and financial stability.
Edun’s absence comes at a sensitive time for Nigeria’s economy, as the Tinubu administration continues to push through painful but ambitious fiscal reforms aimed at stabilising the naira, attracting foreign investment, and curbing inflation.
The Minister, a key architect of the administration’s macroeconomic blueprint, has been central to coordinating fiscal and monetary alignment between the Finance Ministry and the CBN, an effort widely viewed as critical to restoring investor confidence.
Economic analysts say that while Cardoso’s leadership at the Washington meetings ensures continuity, Edun’s health setback could temporarily slow down negotiations with multilateral lenders and development partners on Nigeria’s debt restructuring, budget support, and investment incentives.
According to a Lagos-based financial consultant, “Both Edun and Cardoso have been working in lockstep to reposition Nigeria’s economy.
His (Edun’s) absence, if prolonged, may create a vacuum in fiscal policy coordination.”
Although the Presidency has maintained that there is “no cause for alarm,” the lack of clarity about Edun’s health has fuelled public concern and speculation over possible cabinet changes.
Some reports suggest the President may consider temporary adjustments in ministerial oversight if the Minister’s recovery takes longer than anticipated.
Officials in the Ministry of Finance told ThisNigeria that the Minister had continued to direct specific policy matters remotely before his evacuation abroad.
“He is stable and in good hands,” one senior aide said. “For now, the minister is focused on getting back to full strength.”
