Tinubu nominates Oyedele as minister of state for finance.

President Bola Tinubu has nominated Dr. Taiwo Oyedele as the new Minister of State for Finance, signaling a major step in the administration’s ongoing fiscal and economic reform agenda. The nomination has been forwarded to the Senate for confirmation.

Dr. Oyedele replaces Dr. Doris Anite-Uzoka, who has been reassigned to the Ministry of Budget and National Planning as Minister of State. The reshuffle marks her third ministerial portfolio under the current administration, reflecting continued adjustments aimed at strengthening economic governance.

Before his nomination, Dr. Oyedele served as Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms. In that role, he spearheaded one of the most comprehensive overhauls of Nigeria’s tax framework in decades. An economist, accountant, and public policy expert, Oyedele led efforts to simplify and modernize the country’s tax system in a bid to improve compliance, expand the tax base, and stimulate economic growth.

The Presidential Committee on Fiscal Policy and Tax Reforms was inaugurated in August 2023 with a mandate to streamline Nigeria’s complex tax structure and make it more efficient. Under Oyedele’s leadership, the committee developed four executive bills that consolidated more than 60 disparate taxes into fewer than 10 core statutes. The reforms were designed to reduce administrative burdens, eliminate duplication, and make the tax system more transparent and predictable.

Among the most notable provisions of the new Tax Reform Acts, which took effect on January 1, 2026, is the introduction of zero personal income tax for Nigerians earning N800,000 or less annually. The reforms also provide substantial relief to small businesses, exempting enterprises with annual turnover below N50 million from company income tax, capital gains tax, and development levies. These measures are intended to support micro, small, and medium-sized enterprises (MSMEs), which are widely regarded as the backbone of the Nigerian economy.

In addition, the reforms include incentives aimed at boosting employment and supporting low-income workers. Companies that hire new employees are entitled to a 50 percent tax deduction for three years, while businesses that increase wages for their lowest-paid staff can claim a 50 percent deduction on those increments. Agricultural enterprises benefit from a five-year corporate tax holiday, a move designed to stimulate investment in food production and agro-processing.

Dr. Oyedele’s professional background spans over two decades in tax advisory and fiscal policy. He began his academic journey at Yaba College of Technology, where he earned a Higher National Diploma in Accountancy and Finance. He later obtained a Bachelor of Science degree in Applied Accounting from Oxford Brookes University.

Throughout his career, he has further strengthened his expertise through executive education programmes at globally respected institutions, including the London School of Economics, Yale University, the Gordon Institute of Business Science, and the Harvard Kennedy School.

Oyedele spent 22 years at PricewaterhouseCoopers, where he joined in 2001 and rose through the ranks to become Fiscal Policy Partner and Africa Tax Leader. His extensive experience in advising governments and corporations on tax policy and fiscal matters positioned him as a key figure in Nigeria’s tax reform drive.

Beyond his professional practice, he is also active in academia. He currently serves as a professor at Babcock University and is a visiting scholar at the Lagos Business School, contributing to research and thought leadership in fiscal policy and economic development.

If confirmed by the Senate, Dr. Oyedele will work closely with the Minister of Finance, Wale Edun, who leads the ministry. The Finance Ministry plays a central role in shaping Nigeria’s fiscal direction, overseeing revenue mobilisation, debt management, budget implementation, and broader economic planning.

As Minister of State for Finance, Oyedele is expected to focus on implementing the tax reforms he helped design, ensuring effective rollout and compliance across sectors. His appointment is widely seen as an effort to maintain continuity in fiscal policy while accelerating reforms aimed at strengthening government revenues, improving investor confidence, and fostering inclusive economic growth.

The Senate is anticipated to screen and deliberate on his nomination in the coming weeks. Upon confirmation, he will be sworn in to formally assume office and begin overseeing key aspects of Nigeria’s evolving fiscal framework.