Tinubu sacks Minister of Finance Wale Edun, elevates Taiwo Oyedele lead the ministry

Precious Omolu 19:25 - 21 April 2026

President Bola Tinubu approved a minor cabinet reshuffle, replacing Wale Edun as finance minister and making changes to the housing ministry as part of efforts to strengthen economic governance.

President Tinubu reshuffles cabinet, removes Wale Edun as finance minister and elevates Taiwo Oyedele. Ahmed Musa Dangiwa also exits as housing minister, with Muttaqha Rabe Darma named replacement.

President Tinubu approved a minor cabinet reshuffle affecting the finance and housing ministries.
Wale Edun was relieved as the a finance minister and replaced by Taiwo Oyedele.
Ahmed Musa Dangiwa was also removed as housing minister, with Muttaqha Rabe Darma named as replacement.
The government says the changes aim to improve governance and strengthen economic delivery.

There were changes in Nigeria’s cabinet on Tuesday, as President Bola Ahmed Tinubu approved what officials described as a “minor” reshuffle, though the moves signal a notable shift in the country’s economic leadership.

Wale Edun, who has served as minister of finance and coordinating minister of the economy since August 2023, has been relieved of his appointment. In his place, Taiwo Oyedele has been elevated to take over the finance ministry.

The development was confirmed in a statement issued by Yomi Odunuga, special adviser on media and publicity to the Secretary to the Government of the Federation.

President Bola Tinubu approved a minor cabinet reshuffle affecting the finance and housing ministries.

The statement also announced that Ahmed Musa Dangiwa has been removed from his role as minister of housing and urban development. President Tinubu has approved Muttaqha Rabe Darma as minister designate for the housing ministry.

“President Bola Ahmed Tinubu has approved a minor cabinet reshuffle in the membership of the Federal Executive Council,” the statement reads.

Ahmed Musa Dangiwa was also relieved of his position as minister of housing and urban development.

“According to a memo signed by the Secretary to the Government of the Federation, Senator George Akume, two cabinet members, Mr. Wale Edun and Arc. Ahmed Musa Dangiwa are to leave the cabinet while their replacements have been named.”

The government noted that the transition would move quickly, with all handover processes expected to be completed within days.

“All handing over and taking over processes should be completed on or before close of business on Thursday 23rd April, 2026,” the statement added.

Speaking on the changes, Akume said the reshuffle is part of efforts to strengthen governance and improve economic outcomes under the administration’s Renewed Hope Agenda. He explained that the president exercised his constitutional powers under sections 147 and 148 of the 1999 Constitution (as amended) to carry out the changes.

“The President thanked the outgoing ministers for their services to the nation while wishing them the best in all their future endeavours,” the statement reads.

Akume also suggested that further adjustments could happen, noting that efforts to reinvigorate the cabinet would remain ongoing.

Edun’s exit brings to a close nearly three years at the helm of Nigeria’s finance ministry. A respected economist and investment banker, Adebayo Olawale Edun built a long career in finance before entering government.

Ahmed Musa Dangiwa was also relieved of his position as minister of housing and urban development.

He holds both bachelor’s and master’s degrees in economics from the University of London and the University of Sussex. Between 1980 and 1986, he worked at Chase Merchant Bank in Lagos before joining the World Bank in 1986 through its Young Professionals programme, where he contributed to economic and financial packages for countries in Latin America and the Caribbean.

In 1989, he co-founded Investment Banking & Trust Company Limited, now Stanbic IBTC, serving as executive director. He later founded Denham Management Limited in 1994, which evolved into the Chapelhill Denham Group, where he served as chairman from 2008 to 2021.

Edun also made history in 2023 when he was appointed chairman of the African Governors’ Forum of the World Bank, becoming the first Nigerian to hold the position in about 60 years.

With Taiwo Oyedele now stepping into the finance ministry, attention is expected to turn quickly to how the new leadership plans to tackle inflation, currency pressures, and broader economic reforms already underway.

For now, the reshuffle appears modest on paper, but the impact, particularly on Nigeria’s economic direction, may become clearer in the coming weeks.