By Our Correspondent
National News – President Bola Ahmed Tinubu on Monday formally swore in Taiwo Oyedele as Nigeria’s new Minister of State for Finance at the Presidential Villa in Abuja.
The brief ceremony took place at about 2:30 pm inside the President’s office at Aso Rock Presidential Villa, marking another step in the administration’s ongoing fiscal reform agenda.
Oyedele’s appointment came five days after the Senate of Nigeria confirmed his nomination following a screening session that lasted more than two hours.
During the confirmation exercise, lawmakers approved his nomination through a voice vote after the Committee of the Whole adopted the recommendation presented on the Senate floor.
Before the swearing-in, the new minister and his wife were seen arriving at the Presidential Villa shortly after 2:00 pm, where they passed through security checks.
Oyedele appeared in a navy blue suit, while his wife was dressed in white traditional attire.
President Tinubu had earlier forwarded Oyedele’s nomination to the Senate on March 3 in a letter addressed to Senate President Godswill Akpabio, requesting confirmation in line with Section 147(2) of the 1999 Constitution.
Oyedele, who hails from Ikaram in Akoko area of Ondo State, brings more than two decades of experience in fiscal policy and taxation.
Prior to his ministerial appointment, he served as chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, which designed sweeping changes to Nigeria’s tax system.
The committee’s work led to four major tax reform bills passed by the National Assembly in 2025. These included the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill.
The reforms consolidated more than 60 taxes into fewer than 10 laws and introduced relief measures such as zero income tax for Nigerians earning ₦800,000 annually or less.
The policy changes also exempted small businesses with an annual turnover below ₦50 million from company income tax, capital gains tax, and withholding tax, while offering incentives aimed at boosting employment and wage growth across the country.
Before joining public service, Oyedele spent 22 years at PricewaterhouseCoopers, where he rose to become Fiscal Policy Partner and Africa Tax Leader.
