President Bola Ahmed Tinubu has appointed Taiwo Oyedele, chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, as Minister of State for Finance.
The appointment, announced on Monday, March 3, follows months of sweeping tax reform proposals led by Oyedele aimed at overhauling Nigeria’s revenue system, widening the tax base and simplifying compliance.
Oyedele, a tax expert and former Africa tax leader at PwC, has been at the forefront of the administration’s fiscal reform drive since 2023, when he was appointed to chair the presidential tax reform committee. Under his leadership, the committee drafted proposals seeking to harmonise multiple tax laws and improve revenue collection efficiency.
It was reported that Oyedele’s elevation signals the administration’s intention to accelerate fiscal restructuring as Nigeria grapples with revenue shortfalls, rising public debt and economic pressures triggered by recent policy reforms.
The Minister of Finance is the substantive head of the Federal Ministry of Finance and is responsible for shaping and overseeing Nigeria’s fiscal policy. The Minister of State for Finance, while also a member of the Federal Executive Council, the Minister of State works under the supervision of the Minister of Finance and may be assigned specific portfolios, such as tax policy, revenue reforms or special projects.
Oyedele’s appointment as Minister of State suggests he will likely focus on deepening ongoing tax and fiscal reforms within the ministry.
His nomination is expected to face confirmation by the Senate. If confirmed, analysts say his transition from advisory role to executive office could provide stronger institutional backing for the administration’s reform agenda.
