The Senate on Wednesday confirmed the appointment of Taiwo Oyedele as Minister of State for Finance under the administration of Bola Ahmed Tinubu.
The confirmation followed a voice vote by lawmakers after the nominee was considered and cleared by the Committee of the Whole. Senate President Godswill Akpabio announced the decision after senators concluded deliberations on the nomination.
Oyedele is expected to replace Doris Uzoka-Anite, who was recently reassigned to serve as Minister of State for Budget and National Planning.
The confirmation came after an extensive screening session that lasted more than two hours, during which senators questioned the nominee on fiscal governance, economic policy, and strategies for strengthening Nigeria’s financial management.
Responding to questions from lawmakers, Oyedele described his nomination as a call to serve the country at a crucial 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 forwarded Oyedele’s name to the Senate for confirmation shortly after announcing his nomination.
During the screening, the economist and public policy expert expressed appreciation to the president for the confidence placed in him and described his appearance before the Senate as an honour.
“I am deeply honoured to appear before this distinguished chamber today. I thank President Bola Ahmed Tinubu 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, a role he assumed in July 2023. Under his leadership, the committee spearheaded major reforms that led to the introduction of a new tax regime in Nigeria.
The reforms, which took more than two years to complete, eventually came into effect on January 1 despite initial resistance from some stakeholders.
The new tax framework is aimed at improving tax administration, boosting government revenue, enhancing the business environment, and attracting both domestic and foreign investment into the Nigerian economy.
