The Ondo APC Elders Movement for Tinubu has commended President Bola Ahmed Tinubu over the appointment of Mr. Taiwo Oyedele as the substantive Minister of Finance and Coordinating Minister of the Economy, describing the decision as strategic and well-suited for Nigeria’s ongoing economic reforms.
The group’s Coordinator, Otunba Agboola Kelly, said the appointment reflects the President’s commitment to strengthening fiscal governance and ensuring effective economic management. He noted that Oyedele is a highly skilled professional whose track record in finance and economic policy makes him a fitting choice for the role.
Kelly further described the new minister as a man of integrity and competence, adding that his elevation demonstrates the confidence President Tinubu has in his capabilities.
He emphasized that Oyedele’s appointment comes at a crucial time when Nigeria requires experienced leadership to stabilize the economy, drive sustainable growth, and implement policies that positively impact citizens.
The group expressed optimism that the new Finance Minister will play a key role in advancing the Renewed Hope Agenda, particularly in boosting revenue generation, ensuring prudent financial management, and attracting foreign investment into the country.
Otunba Kelly called on stakeholders within the financial sector to support the minister in repositioning the economy for greater efficiency and inclusiveness. He also prayed for wisdom and strength for Oyedele as he assumes his new responsibilities
Today, I received the Honourable Minister of Aviation and Aerospace Development, Mr. Festus Keyamo, SAN, CON, on a working visit.
We had constructive discussions on the challenges facing the aviation sector, particularly the recent sharp rise in the cost of aviation fuel and its impact on airlines’ operations and pricing. We also explored areas of opportunities to strengthen the sector and unlock its growth potential.
Our focus remains on ensuring a more sustainable, efficient, and competitive aviation industry that supports economic activity and connectivity.
The finance minister and Coordinating Minister of the Economy, Taiwo Oyedele, has assured the private sector and investors that Nigeria is not looking back on reforms that have been implemented in the last few years.
Oyedele said this on Thursday at the launch of the Nigerian Economic Summit Group’s Private Sector Outlook 2026 in Lagos, emphasising that consistency and predictability will be critical to unlocking investment and driving growth.
While acknowledging early signs of macroeconomic stabilisation, Oyedele stressed that sustaining reforms is essential to building investor confidence, warning that mixed signals or policy reversals could undermine progress. He added that the next phase of Nigeria’s economic agenda will test reforms by their ability to deliver real outcomes, jobs, productivity gains, and improved living standards.
Oyedele is less than 48 hours in his role as the substantive finance minister and coordinating minister of the economy following the resignation of Wale Edun on Monday.
Oyedele said, “From the perspective of the private sector, four factors are critical to drive investment in this phase: first, policy consistency, reforms must be sustained. This is why we are not looking back. Nothing undermines confidence more than policy reversals or mixed signals. Businesses need to know that today’s decisions we still hold tomorrow, unless unpredictable circumstances require otherwise.
“Second, predictability beyond consistency, there must be predictability. This applies to tax, environment and tax laws, trade policies, foreign exchange rules and regulatory processes. Third is the cost of doing business. We are confronting the structural cause that businesses face, ranging from multiple taxation, logistics inefficiencies, supply chain bottlenecks, energy constraints and regulatory overlaps. Reducing these constraints is one of the fastest ways to unlock growth for our country.
“We are currently targeting real GDP per capita growth of around four to 5% to really make a meaningful impact, because if our GDP is growing at around 4% and we have population growth at 2% plus. It’s not making an insignificant impact in lifting people out of poverty and creating shared prosperity. Fourth is access to capital. Investment cannot happen without financing. We’re therefore strengthening domestic capital markets, access to credit and long-term financing structure for infrastructure and industry. You must have observed that the government has been particularly focused on the credit economy, whether it’s no fund for students or whether it’s credit call, where you’re trying to do consumer finance, and the ones for industries like BoI (Bank of Industry), trying to provide credit at affordable rates, and so forth. We think that we can stimulate economic growth faster by creating affordable credit economy and access to capital.”
The new finance minister added that Nigeria’s economic reform drive is entering a decisive new phase, with the focus shifting from stabilisation to tangible growth outcomes, noting that recent policy measures have begun to show early signs of stability, including a more aligned exchange rate, improved revenue performance, and clearer policy direction.
However, he stressed that stabilisation alone does not equate to success, describing it instead as the foundation upon which sustainable growth must be built. Oyedele noted that the real test lies in translating reforms into measurable impact, through increased investment, job creation, higher productivity, and improved living standards, anchored on consistent, predictable policies that can inspire long-term investor confidence.
He said, “We have started to see early signs of stabilisation and early signs of growth with a more aligned exchange rate environment, improving revenue performance and clearer policy signal to the market. While we recognise the progress made so far, we are mindful that stabilisation alone is not success. It is simply the foundation upon which success must now be built.
“So what’s the real test is moving from reform to growth. The next phase we are now entering is where reforms are tested based on the outcomes that they produce and the impact that they make. Because reforms on their own do not create growth. We need investment at scale to create decent jobs, enhance productivity and improve living standards. But investment does not respond to announcements. It responds to confidence built on predictable policies and clear rules consistently applied within a competitive framework to achieve acceptable risk-adjusted returns. If the environment is uncertain, the investment will wait. But if we provide the right environment, investment will not only come, it will stay and grow.”
On productivity, Oyedele said, “Let me speak to productivity, because that seems to be like the missing link in the narrative of our economic reform over the years. If we are to move from the stabilisation to the sustainable growth phase, we must address the fact that productivity growth driven by consumption alone is not sustainable. We must increase output efficiency and competitiveness, especially in key sectors like agriculture, manufacturing and the digital economy, as well as energy.
“But productivity does not happen in isolation. It requires infrastructure, skills development, technology adoption and a supportive policy environment. So this is where the next point I want to make comes in. We are familiar with PPP, public-private partnership. But I think we also need public policy and private partnership. PPP. No government, no matter how well resourced, can drive growth alone. Therefore, this phase requires alignment between government policy, private sector investment priorities and development partners. Support platforms like the NESG are critical because they enable dialogue, feedback and course correction. We note too well that reforms are more effective when they are not only co-created, but they are co-owned through again, what I call the public policy private partnership.”
He added that as the Nigerian economy moves into the consolidation phase, the government remains “focused on deepening economic reforms, improving the ease of doing business, strengthening public financial management and enhancing coordination across not just MDAs, but across the tiers of government. We had a very productive meeting yesterday with the Governor’s Forum and supporting sectors with high growth and employment potential. As we consolidate, we will deepen reforms to stimulate growth, enhance productivity and promote fiscal discipline.
“We need private capital. We recognise that policy alone is not enough. Implementation, consistency and accountability will define success.”
Highlighting what is required of the private sector, Oyedele said, “Our ask from the private sector is invest with a medium to long-term perspective, continue to formalise and expand your operations. Engage constructively with policy makers like we always do, particularly on the platform of the NESG, uphold compliance, transparency and governance standards. Sustainable growth is ultimately a shared prosperity.
“We are mindful that there are risks to watch, and we must remain mindful of those risks that lie ahead, including reform fatigue, inflationary pressures arising from recent global economic uncertainties and conflicts, as well as political and social pressure, especially in a pre-election year. Why are these risks real? They are nevertheless manageable with discipline and collaboration. So in closing, my perspective is that Nigeria has taken the difficult step of initiating reforms.
“This phase that we have done required courage, and that has been demonstrated by the political leadership. The phase we are now entering requires something different, and that is discipline, focus and diligent execution. This is what we promise to deliver.”
🗓️ July 7, 2023 — Appointed Chairman, Presidential Committee on Fiscal Policy & Tax Reforms
🗓️ August 8, 2023 — Formally inaugurated and delivered his inaugural address at the State House
🗓️ March 11, 2026 — Confirmed by the Senate as Minister of State for Finance, replacing Doris Uzoka-Anite
🗓️ March 16, 2026 — Sworn in as Minister of State for Finance by President Tinubu
🗓️ April 21, 2026 — Elevated to Minister of Finance & Coordinating Minister of the Economy, replacing Wale Edun
Oyedele spent 32 months as Committee Chairman before joining the cabinet, and just 36 days as Minister of State before being elevated to the substantive Finance Minister role.
Under his leadership, four tax reform bills were passed by the National Assembly in May 2025.
Incoming Coordinating Minister of the Economy, Taiwo Oyedele, chaired his first FAAC meeting in his new ministerial role, overseeing the allocation of ₦2.036 trillion in Federation Account revenue for March 2026.
This marks the second time this year that FAAC disbursements to the federal, state, and local governments have exceeded the ₦2 trillion threshold.
Key Figures from the Meeting:
Total distributable revenue: ₦2.036 trillion
Distributable statutory revenue: ₦1.320 trillion
Distributable VAT revenue: ₦515.391 billion
Augmentation: ₦200 billion
Gross revenue inflow for March: ₦2.364 trillion
Cost of collection: ₦81.084 billion
Transfers, refunds, and savings: ₦246.872 billion
Breakdown of the ₦2.036 Trillion Allocation:
Federal Government: ₦789.159 billion
State governments: ₦657.596 billion
Local government councils: ₦468.826 billion
Derivation (13% to oil-producing states): ₦120.759 billion
The distribution details were provided in a statement from the Office of the Accountant General of the Federation, signed by Bawa Mokwa, the Director of Press and Public Relations.
FAAC Shares N2.036Trillion March 2026 Revenue To FG, States, LGs, reflecting a N150Billion increase from the N1.89Trillion distributed for February, amid stronger statutory inflows.
Breakdown⤵️
FG — N789.16bn
States — N657.60bn
LGs — N468.83bn
Derivation (Oil-producing states) — N120.76bn
When will you start holding your Governors and Local Government Chairmen accountable?
The Federal Ministry of Finance convened a close-out meeting on the Personnel Audit and Skills Gap Analysis (PASGA) exercise with the Office of the Head of the Civil Service of the Federation and consultants to review findings, validate outcomes, and set the direction for implementation across the Ministry.
At the session, the Permanent Secretary, Special Duties, Mr. Mohammed Sanusi Danjuma, set a firm tone, describing the exercise as a structural intervention that will shape how human resources are deployed across the Ministry.
He stated that the PASGA process has moved beyond routine verification, providing a clear basis for examining workforce composition and aligning personnel with operational priorities.
According to him, the effectiveness of the Ministry depends on the deliberate placement of skills where they are most required, noting that the exercise offers a practical framework for achieving that objective.
Mr. Danjuma further emphasised that the process enables management to interrogate existing structures, identify gaps, and take informed decisions on workforce planning.
He acknowledged the role of the Office of the Head of the Civil Service of the Federation in driving the initiative, adding that the exercise strengthens the capacity of Ministries, Departments and Agencies to respond to evolving governance demands.
Providing details of the exercise within the Ministry, the Director, Human Resource Management, Mrs. Aderonke Jaiyesimi, stated that the process commenced in October 2025 and was implemented in close coordination with consultants.
She disclosed that 752 officers completed the personnel audit, while 504 officers undertook the skills gap assessment, reflecting substantial participation across the Ministry.
Of this number, 255 officers have received personnel audit certificates, while 242 have been issued skills assessment certificates, with outstanding cases currently undergoing resolution.
Mrs. Jaiyesimi explained that the exercise has improved the accuracy of personnel records and provided a clearer mapping of skills and competencies across departments and units.
She noted that the emerging gaps highlight areas requiring adjustment, particularly in aligning staff capabilities with institutional requirements under ongoing public service reforms.
In her presentation, the lead consultant from TWPC Tech, Dr. Mojisola Olegbegi, outlined the structure of the nationwide exercise, noting that the programme is being implemented by 16 consultants across MDAs.
She stated that the public service remains central to governance delivery and that the PASGA framework is designed to address critical skills gaps affecting performance.
While acknowledging the level of participation recorded by the Ministry, she encouraged sustained engagement with the process to ensure that identified gaps are addressed in a structured and measurable manner.
The meeting also provided a platform for questions, clarifications, and internal deliberations on the way forward, with a focus on translating findings into actionable outcomes.
The Ministry reaffirmed its commitment to applying the results of the exercise to strengthen workforce planning, improve institutional coherence, and support more effective service delivery.
Efe Ovuakporie
Deputy Director, Information and Public Relations
16th April 2026
Director, Human Resource Management, Mrs Aderonke Jaiyesimi delivering her welcome address
Permanent Secretary Special Duties, Mohammed Sanusi Danjuma delivering his Opening Remarks
The Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun with some delegates during the Round Table session on Investing in Education for Resilient Economics at the 2026 Spring Meeting today in Washington DC.
Today’s meeting of the Intergovernmental Group of Twenty-Four (G24) on International Monetary Affairs and Development convenes at a critical moment for the global economy, as emerging markets and developing economies continue to face multiple and overlapping shocks, including geopolitical tensions, tighter financial conditions, and climate-related vulnerabilities.
As Chair of the G24, the Federal Republic of Nigeria has the honour of guiding today’s deliberations. Nigeria, under the leadership of the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun continues to work closely with member countries to strengthen collective advocacy on issues central to the development agenda of emerging and developing economies.
Today’s discussions focused on key priorities, including:
• Strengthening global economic resilience in the face of persistent shocks
• Enhancing the international financial architecture, including IMF quota and governance reforms
• Expanding access to adequate and predictable development financing
• Addressing rising debt vulnerabilities and improving debt resolution frameworks
• Supporting job creation, inclusive growth, and long-term structural transformation
• Reinforcing multilateral cooperation between the IMF, World Bank Group, and other international partners
Members reviewed recent global economic developments and exchange views on coordinated policy responses that can better support vulnerable economies.
The G24 Deputies have already engaged in substantive preparatory discussions, and their inputs are reflected in the issue notes and draft communiqué before members.
Nigeria, as Chair of the G24, reaffirms its commitment to fostering consensus, amplifying the voice of developing countries, and advancing a fair, inclusive, and effective global financial system that supports sustainable development for all.
In steadfast in advancing Mr. President’s Eight (8) Priority Areas, the Permanent Secretary of Finance, Federal Ministry of Finance, Mr. Raymond Omachi said the Ministry will continue to manage the nation’s finances with the highest standards of transparency and accountability, ensuring prosperity for both present and future generations.
The Permanent Secretary Finance disclosed this today while giving his welcome address at the 2026 Central Results Delivery Coordination Unit (CRDCU) Retreat of the Ministry and its Agencies in Jalingo, Taraba State, with the theme, “consolidating the Achievements of the Eight Presidential Priorities: the Role of the Federal Ministry of Finance in Results Delivery”.
The Permanent Secretary Finance who was represented by the Director Technical Services Department, Mr. Bashir Abdukadir explained that the choice of Taraba State for the retreat was carefully selected in recognition of the importance of strengthening collaboration between the federal and sub national governments, as well as the federal government’s commitment to inclusivity in national development efforts.
Omachi who conveyed his deep appreciation to the Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, the Honourable Minister of State for Finance, Mr Taiwo Oyedele, and His Excellency, the Executive Governor of Taraba State, Dr. Agbu Kefas and his team for the warm hospitality and support in hosting the retreat, stated that this “gesture underscores the spirit of partnership required to advance our collective development objectives”, adding that, the Ministry attaches great importance to this retreat, as it provides a platform to galvanize our collective efforts and strengthen synergy under the leadership of the Honourable Minister of Finance and Coordinating Minister of the Economy.
He reiterated that “this retreat comes at a critical time in our nation’s development journey when we are navigating a dynamic global economic landscape and addressing pressing domestic fiscal challenges” it is imperative that we strengthen coordination, sharpen our focus and enhance our delivery mechanism, he added.
Earlier, the Taraba State Governor, His Excellency, Dr. Agbu Kefas who was represented by the State SGF, Barr. Gibon Kataps said that ” this retreat is not only essential but also timely, considering the challenges facing the global economy amid rising energy costs caused by the crisis in the Middle East, which Nigeria is not immature to”.
The Governor explained that his State has been proactive in adopting global best practices that promote accountability, inclusivity and prevent financial leakages, particularly in fiscal and monetary policies, leading to greater transparency and fostering ease of doing business.
However, the retreat which serves as a critical platform to examine the Deliverables and Key Performance Indicators (KPIs) of the Ministry, have paper presentations which includes;
a. Overview of the Federal Government Delivery system and presidential priorities.
b. Understanding the Ministerial Deliverables for Federal Ministry of Finance and mapping of Agencies.
c. CRDCU Delivery Reporting Framework
d. Review and validation of 2026 Ministerial Deliverables, KPIs and targets.
The retreat has in attendance top government officials, policy makers, representative of key institutions, Stakeholders and CRDCU’S focal Officers from different Ministries, Department and Agencies (MDAs).
Signed
Efe Ovuakporie
DD (Information and PR)
April 1, 2026
Cross Section of participants today at the CRDCU’S Retreat in Jalingo, Taraba State
L-R, Dr. Sarah Adi, the Taraba State Commissioner for Finance, the Taraba State SGF, Barr. Gibon Kataps, Mr. Bashir Abdulkadir, Federal Ministry of Finance Director Technical Services Department, Mrs. Aderonke Jayisim, Director Human Resources Department, Federal Ministry of Finance, Taraba State Permanent Secretary Finance, Mr. Douglas Kisaba, Mr. Abubakar Othman, Director ERPM, Federal Ministry of Finance and others at the CRDCU’S Retreat in Jalingo, Taraba State today.
Taraba State SGF, Barr. Gibo with stakeholders and CRDCU’S focal officers from different MDAs at the CRDCU’ Retreat in Jalingo, Taraba State today.
