The Senate has confirmed Taiwo Oyedele as Minister of State for Finance, paving the way for the fiscal policy expert to join the federal cabinet and support ongoing economic reform efforts under President Bola Tinubu.
His confirmation followed a detailed screening by lawmakers, who examined his plans for strengthening Nigeria’s public finances, expanding government revenue, and advancing fiscal reforms aimed at stabilising the economy.
During the session on Wednesday, senators questioned the nominee on several economic issues, including tax administration, fiscal discipline, and strategies to broaden the nation’s revenue base amid mounting financial pressures.
Responding to the questions, Oyedele emphasised the need for practical reforms to improve fiscal governance and enhance the efficiency of revenue collection across government institutions.
“This opportunity is a call to contribute meaningfully to Nigeria’s economic recovery and long-term stability,” Oyedele said.
“Our fiscal framework must evolve to support sustainable development while ensuring transparency and accountability in public finance.”
He also stressed that Nigeria’s economic challenges require coordinated policy actions among government institutions, noting that fiscal stability remains a critical pillar of national development.
“Strengthening the tax system and improving compliance mechanisms are essential steps toward building a more resilient economy,” he added.
Following deliberations, the Senate approved his nomination through a voice vote after considering the report presented during the Committee of the Whole session.
Senate President Godswill Akpabio subsequently announced the confirmation, formally clearing the nominee to assume the ministerial role.
Oyedele is expected to replace Doris Uzoka-Anite in the finance ministry following the recent cabinet reshuffle by President Bola Tinubu.
Before his nomination, Oyedele served as Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, where he oversaw the development of policy proposals aimed at overhauling Nigeria’s tax system.
The reform agenda, launched shortly after his appointment to the committee in 2023, involved extensive consultations with stakeholders from both the public and private sectors.
Although the proposals initially generated debate among policy experts and business groups, the revised tax framework eventually took effect on January 1, introducing measures designed to modernise tax administration and expand the country’s revenue base.
Expressing appreciation to the president and lawmakers, Oyedele reaffirmed his commitment to working with relevant institutions to advance policies that support economic growth and fiscal sustainability.
“I appreciate the confidence placed in me and the opportunity to serve,” he said. “Together, we can strengthen Nigeria’s fiscal system and lay the foundation for sustainable economic progress.”
