By Cross Udo, Abuja
President Bola Tinubu on Monday swore in Taiwo Oyedele as the Minister of State for Finance, declaring that the tax reform expert “fits the job” because of his dedication and expertise in fiscal policy reforms.
Speaking during the swearing-in ceremony at the Presidential Villa, Abuja, Tinubu said the decision to appoint Oyedele to his cabinet did not require much deliberation.
“You are just a very dedicated and highly determined individual. It didn’t take much for me to decide where you fit and where you need to be to help the country further,” the President said.
Tinubu praised Oyedele for his role in leading the Presidential Committee on Fiscal Policy and Tax Reforms, noting that the committee’s work helped overhaul Nigeria’s outdated tax system.
“You have rewritten the entire tax policy of this country that was obsolete, archaic, and fundamentally against every progressive thinker,” Tinubu said.
The President added that managing fiscal policy at a time when the country is experiencing economic stability without rapid growth is a demanding responsibility, expressing confidence that Oyedele is suited for the task.
“It is a very challenging job to look at fiscal policy and responsibility at a time when economic stability is being experienced, but without exponential growth. It is always very difficult, but you fit the bill,” he said.
Oyedele, an economist and public policy expert, previously chaired the Presidential Committee on Fiscal Policy and Tax Reforms, where he coordinated the development of key tax reform legislation.
The reforms produced four major bills: the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill, which were later passed by the National Assembly and signed into law by the President in June 2025.
•Oyedele promises revenue mobilisation, fiscal discipline as Minister of State for Finance
Responding after taking the oath of office, Oyedele described the appointment as both an honour and a greater responsibility.
“I think they say the reward for doing a good job is more work. It’s always a privilege to have the opportunity to serve your country, especially at the highest level and at this critical juncture,” he said.
He stressed that the Ministry of Finance’s immediate focus would be on strengthening government revenue and ensuring prudent fiscal management.
“The priorities are around revenue mobilisation so that we can have enough revenue to meet the increasing demand of the public on the treasury, both at the federal level as well as sub-national,” he said.
Oyedele added that improving spending efficiency and ensuring fiscal sustainability would also be critical.
“For every one naira that we earn, how can we optimise the value we get from it to meet the needs of our people? Issues around debt management and fiscal sustainability are also important,” he stated.
He assured Nigerians that he would give his best in delivering the responsibilities of his new office.
“One thing I can promise Mr President and the Nigerian people is that I will give my very best at every point in time,” Oyedele said.
