In a move aimed at injecting fresh energy into the nation’s economic management, President Bola Ahmed Tinubu has approved a minor cabinet reshuffle, resulting in the exit of two high-profile ministers.
The announcement, contained in a memo released on Tuesday by the Secretary to the Government of the Federation (SGF), Senator George Akume, confirmed that Mr. Wale Edun and Arc. Ahmed Musa Dangiwa has been relieved of their duties.
The reshuffle marks a significant promotion for Mr. Taiwo Oyedele, who steps up from his role as Minister of State to become the substantive Minister of Finance and Coordinating Minister of the Economy, succeeding Wale Edun.
Additionally, the President has named Mr. Muttaqha Rabe Darma (PhD) as the ministerial nominee and minister-designate for the Ministry of Housing and Urban Development. Arc. Dangiwa has been directed to hand over his affairs to the Minister of State in that ministry.
The Presidency has set a strict deadline for the transition of power within the affected ministries which includes a handover deadline of thursday, April 23, 2026 after a close of business on the aforementioned date.
According to the SGF, the President’s decision is rooted in a desire to optimize the “Renewed Hope Agenda.”
“These changes are aimed at strengthening cohesion, synergy in governance as well as achieving more impactful delivery on the economy to Nigerians,” Akume stated.
The SGF further clarified that the President exercised his executive powers in accordance with Sections 147 and 148 of the 1999 Constitution (as amended).
While President Tinubu expressed his gratitude to the outgoing ministers for their service to the nation, the SGF hinted that this might not be the last of the changes. The memo noted that the “process of reinvigoration shall be continuous,” suggesting that the administration remains open to further adjustments to ensure its policy goals are met.
The elevation of Oyedele—a well-known fiscal policy expert—to the helm of the Finance Ministry is expected to be viewed closely by markets and stakeholders as the administration seeks to stabilize the national economy.
