President Bola Ahmed Tinubu has carried out a minor cabinet reshuffle, replacing the Coordinating Minister of the Economy and Minister of Finance, Adebayo Olawale Edun, with former Minister of State for Finance, Taiwo Oyedele, in a move aimed at strengthening economic coordination under the Renewed Hope Agenda.
The shake-up, announced on Tuesday, also saw the removal of the Minister of Housing and Urban Development, Ahmed Musa Dangiwa, with Muttaqha Rabe Darma nominated as his replacement, subject to Senate screening and confirmation.
According to the announcement by the Secretary to the Government of the Federation, Senator George Akume, the changes were approved by President Tinubu in line with Sections 147 and 148 of the 1999 Constitution (as amended), with directives that handover processes be completed on or before the close of business the following day.
Mr Edun, who assumed office on August 21, 2023, after his appointment on August 16, 2023, served for about 32 months before his exit. He had previously joined the administration as Head of the Presidential Transition Committee and later served as Special Adviser on Monetary Policy before becoming Finance Minister.
Mr Taiwo Oyedele, who now assumes office as Minister of Finance and Coordinating Minister of the Economy, was sworn into the Federal Executive Council earlier on March 16 after his initial appointment as Minister of State for Finance.
In the housing ministry, Mr Dangiwa, appointed in 2023, was directed to formally hand over to Yusuf Abdullahi Ata, the Minister of State in the Ministry of Housing and Urban Development, pending the completion of replacement procedures.
Akume explained that the cabinet changes were intended to enhance synergy, improve governance cohesion, and accelerate the delivery of economic reforms under the administration’s policy framework.
He added that President Tinubu appreciated the outgoing ministers for their service and contributions to national development, while assuring that the restructuring process within government would remain continuous.
In his farewell remarks, Edun expressed gratitude to President Tinubu for the opportunity to serve, noting that his tenure was marked by efforts to stabilise the economy and strengthen fiscal policy coordination.
He said the administration had implemented reforms that improved macroeconomic stability, fiscal sustainability, and investor confidence, adding that inflation and growth indicators reflected gradual progress in the economy.
Edun also highlighted collaboration with state governors, the private sector, and international development partners as key drivers of economic reforms, while stressing that the work of national transformation remains ongoing.
Similarly, Dangiwa thanked the President for entrusting him with the housing portfolio, describing his tenure as an opportunity to advance reforms aimed at expanding access to affordable housing and improving urban development frameworks.
He referenced initiatives such as the Renewed Hope Housing Programme and reforms in housing finance and land administration, noting that these were designed to stimulate economic growth and job creation.
