• President Bola Tinubu replaced Finance Minister Wale Edun with Taiwo Oyedele.
• The government framed the reshuffle as a move to strengthen economic governance and policy execution.
• The decision comes amid inflation at 15.38% and ongoing currency and fiscal pressures.

Nigerian President Bola Tinubu reshuffled his cabinet and removed Finance Minister and Coordinating Minister of the Economy Wale Edun. The government announced the decision in an official statement.

Secretary to the Government of the Federation George Akume stated that Wale Edun handed over his responsibilities to Taiwo Oyedele. He published the announcement on Tuesday, April 21.

PRESS RELEASE

OFFICE OF THE SECRETARY TO THE GOVERNMENT OF THE FEDERATION

Tinubu approves minor cabinet reshuffle as Edun, Dangiwa leave FEC

.....Oyedele elevated to Finance Minister; Darma ministerial nominee

President Bola Ahmed Tinubu has approved a minor cabinet…

— OSGF (@OfficialOSGF) April 21, 2026

The reshuffle also affected the Ministry of Housing and Urban Development. Outgoing minister Ahmed Musa Dangiwa left his position. The government appointed Muttaqha Rabe Darma as his replacement.

“These changes aim to strengthen cohesion and synergy in governance, as well as ensure more effective management of the economy for the benefit of Nigerians, through the Renewed Hope Agenda,” the statement said.

Authorities scheduled the handover processes for completion no later than Thursday, April 23. The government set a tight timeline to ensure continuity in policy execution.

The decision comes as Nigeria faces persistent inflationary pressures. Inflation reached 15.38% in March. The country also continues to face currency weakness and social impacts linked to broad fiscal adjustments introduced under the Tinubu administration. These factors have weighed on household purchasing power and economic stability.

Facts behind the Figures

Inflation rates for March 2026 came in at 15.38%, reflecting underlying global and domestic pressures.
The Monetary Policy Committee remains firmly committed to sustaining price stability, anchoring expectations, and safeguarding the purchasing power of… pic.twitter.com/o5uDjBvVWW

— Central Bank of Nigeria (@cenbank) April 17, 2026

The government projects economic growth at 4.68%. Officials expect declining inflation, improved naira stability, and continued structural reforms to support this outlook. This forecast slightly exceeds the International Monetary Fund’s projection of 4.1%.

Wale Edun built a career as a Nigerian economist and investment banker. He accumulated more than four decades of experience at national and international levels in investment banking, corporate finance, and international finance. He served as minister from 2023 to 2026. Observers recognized him for playing a key role in Nigeria’s economic reforms.

This article was initially published in French by Lydie Mobio

Adapted in English by Ange J.A de Berry Quenum