Nigeria’s Senate has confirmed the appointment of Taiwo Oyedele as a minister-designate in the administration of Bola Ahmed Tinubu.
The confirmation was announced by the Senate President, Godswill Akpabio, after lawmakers approved the nomination through a voice vote during deliberations at the Committee of the Whole.
Oyedele is expected to assume office as Minister of State for Finance, replacing Doris Uzoka-Anite.
His confirmation followed an extensive screening session conducted by senators on Wednesday, during which lawmakers spent more than two hours questioning the nominee on issues relating to fiscal governance and Nigeria’s economic challenges before clearing him for the position.
While responding to questions during the screening, Oyedele described his nomination as a call to serve the country at a critical period in its economic history.
“With over two decades of experience working with national governments, multilateral institutions, and global corporations, my journey across the private sector, academia, and public policy has focused on fiscal governance and economic transformation,” he told the Senate.
“However, this moment is not about personal accomplishments; it is a call to serve at a critical time when Nigeria faces significant fiscal challenges and remarkable opportunities.”
President Tinubu had earlier nominated Oyedele to take over the position after Doris Uzoka-Anite was reassigned to serve as Minister of State for Budget and National Planning.
Shortly after the nomination, the president transmitted Oyedele’s name to the Senate for confirmation, in line with constitutional requirements.
Speaking during the screening session, the public policy expert, accountant and economist expressed appreciation to the president for the confidence reposed in him.
“I am deeply honoured to appear before this distinguished chamber today. I thank President Bola Ahmed Tinubu, GCFR, for the confidence reposed in me through this nomination, and I thank the Senate for the opportunity to share my vision,” he said.
Before his nomination, Oyedele served as chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, where he played a key role in developing and implementing a new tax regime for Nigeria.
Although he was appointed to head the committee in July 2023, it took him and his team more than two years to complete the overhaul of the country’s tax framework.
The reforms, which initially faced criticism and resistance from some stakeholders, eventually came into effect on January 1, ushering in a new phase for Nigeria’s tax administration system.
The new tax laws are aimed at improving revenue generation, strengthening tax administration, enhancing the business environment and encouraging both domestic and foreign investment in the Nigerian economy.
What you should know
Taiwo Oyedele is widely known for his work in fiscal policy and tax reforms in Nigeria. As chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, he led efforts to modernise Nigeria’s tax system by simplifying regulations, expanding the tax base and improving compliance.
The reforms are intended to reduce dependence on oil revenue while increasing government income through more efficient tax administration.
His appointment as Minister of State for Finance signals the government’s intention to continue implementing fiscal reforms aimed at stabilising the economy and promoting sustainable growth.
