Tax reform architect formally joins federal cabinet days after Senate confirmation…..
President Bola Tinubu on Monday swore in Taiwo Oyedele as Nigeria’s new Minister of State for Finance during a brief ceremony at the Aso Rock Presidential Villa.
The swearing-in took place around 2:30 p.m. at the President’s office inside the Presidential Villa in Abuja, according to a source who attended the event.
Earlier in the afternoon, Oyedele and his wife were seen arriving at the Villa at about 2:09 p.m., where they were cleared by security officials before proceeding to the ceremony. The newly appointed minister appeared in a navy blue suit, while his wife was dressed in white traditional attire.
The appointment follows Oyedele’s confirmation by the Nigerian Senate last week after lawmakers concluded an extensive screening session that lasted more than two hours.
The confirmation, which took place on March 12, was announced by Godswill Akpabio, President of the Senate, after the Committee of the Whole adopted the recommendation through a voice vote.
President Bola Tinubu had earlier transmitted Oyedele’s nomination to the Senate on March 3, requesting legislative approval in line with Section 147(2) of the 1999 Constitution.
Tax reform architect joins cabinet
Oyedele, 50, hails from Ikaram Akoko and is widely known for his work on fiscal policy and tax reform.
Before his appointment, he served as Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, a body tasked with restructuring Nigeria’s complex tax system.
The committee, which was inaugurated in August 2023, developed a sweeping reform package that consolidated more than 60 different taxes into fewer than 10 major tax laws.
Four major bills emerged from the reform process:
- Nigeria Tax Bill
- Nigeria Tax Administration Bill
- Nigeria Revenue Service Establishment Bill
- Joint Revenue Board Establishment Bill
The National Assembly of Nigeria passed the bills in 2025 following months of debate and consultations.
President Bola Tinubu later signed the reforms into law on June 26, 2025, with the new tax regime taking effect on January 1, 2026.
The reforms introduced several notable measures, including zero income tax for Nigerians earning N800,000 or less annually. They also granted significant relief to small businesses.
Companies with annual turnover below N50 million were exempted from company income tax, capital gains tax, and withholding tax, while additional incentives were introduced to encourage job creation and wage growth.
Extensive private and academic experience
Before entering government service, Taiwo Oyedele spent 22 years at PricewaterhouseCoopers, where he rose to become Fiscal Policy Partner and Africa Tax Leader.
He holds a Higher National Diploma in Accountancy and Finance from Yaba College of Technology and a Bachelor’s degree in Applied Accounting from Oxford Brookes University.
His professional development also includes executive education programmes at leading global institutions such as:
- London School of Economics
- Yale University
- Gordon Institute of Business Science
- Harvard Kennedy School
In academia, Oyedele currently serves as a professor at Babcock University and is also a visiting scholar at the Lagos Business School.
Change in cabinet portfolio
Oyedele takes over the position from Doris Uzoka-Anite, who has been redeployed to the Federal Ministry of Budget and National Planning as Minister of State.
Her reassignment marks the third portfolio change she has held within the current administration.
During his Senate screening, Oyedele described his nomination as an opportunity to contribute to Nigeria’s economic transformation at a crucial moment.
He told lawmakers that the role represents “a call to serve at a critical time when Nigeria faces significant fiscal challenges and remarkable opportunities.”
“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 said.
