President Bola Ahmed Tinubu on Tuesday swore in Dr Taiwo Oyedele as Minister of State for Finance, charging him to consolidate Nigeria’s financial stability and drive accelerated economic growth.

The President said the appointment was deliberate, citing Oyedele’s role in rewriting Nigeria’s tax policy framework and his strong track record in fiscal reform. He described him as “a dedicated professional well suited to help steer Nigeria’s fiscal reforms.”

“It didn’t take much for me to decide where you fit and where you need to be to further help the country. It is a very challenging job to look at the fiscal policy and responsibility that comes with it at a time when economic stability is being experienced, but without exponential growth, it is always very difficult. But you fit the bill,” Tinubu said.

Oyedele replaces Dr Doris Uzoka-Anite, who has now assumed office as Minister of State for Budget and Economic Planning.

While noting that Nigeria has achieved a degree of economic stability through ongoing reforms, Tinubu said the priority is to translate that stability into sustained and accelerated growth through sound fiscal policies and effective implementation.

“This is a very, very good day. Taiwo, I thank you for accepting to serve your country, your motherland. You have rewritten the entire tax policy of this country that was obsolete, archaic, and fundamentally against every progressive thinker. You are just a very dedicated and highly determined individual,’’ he added.

The President also acknowledged the sacrifices required for public service and thanked Oyedele’s family for their support.

Speaking with reporters after the ceremony, Oyedele described his appointment as both a privilege and a responsibility, noting that it provides an opportunity to move fiscal reforms from policy design to full implementation.

“The reward for doing a good job is more work. It is always a privilege to have the opportunity to serve your country, especially at the highest level, but even more fascinating at this critical juncture for our country,” he said.

He pledged his commitment to delivering results: “One thing I can promise Mr President and the Nigerian people is that I will give my very best at every point in time.”

Oyedele outlined key priorities for the Ministry of Finance, including strengthening revenue mobilisation, improving spending efficiency, and ensuring fiscal sustainability. “For every one naira that we earn, how can we optimise the value we get from it to meet the needs of our people?” he said, adding that fiscal policy must align with monetary policy, trade policy, and global economic realities.

He also stressed the need to position Nigeria to better navigate global economic uncertainties while maximising development opportunities.

Meanwhile, Dr Doris Uzoka-Anite has assumed office as Minister of State for Budget and Economic Planning, pledging support for Nigeria’s economic reforms and development agenda. She was received by Minister of Budget and Economic Planning, Abubakar Atiku Bagudu, who urged her to help drive the ministry’s mandate across all tiers of government.

Bagudu said efforts to grow Nigeria’s economy to $1 trillion by 2030 would be vigorously pursued, noting that the ministry coordinates national development plans, harmonises fiscal and economic policies, and advises the President on strategic initiatives. He added that the upcoming National Development Plan (2026–2030) will guide investment priorities, reforms, and development programmes nationwide.

He also highlighted deliberations at the National Economic Council, which identified key priorities such as improved intergovernmental coordination, increased investment in security, sustained infrastructure funding, and tackling illegal activities in the extractive sector. He further noted efforts to strengthen international partnerships, including the upgraded Nigeria-China comprehensive strategic partnership aimed at boosting economic cooperation.

In her remarks, Uzoka-Anite emphasised the importance of private sector participation, stating that 95 per cent of economic growth should be driven by the private sector, with government contributing the remaining five per cent.

“I have no doubt that Mr President can achieve the one trillion dollar economy as he has started by laying the foundation for that to happen through the introduction of economic reforms and the implementation of the National Development Plan (NDP),” she said.

Uzoka-Anite also thanked the President for the opportunity to serve in multiple roles, including Minister of Industry, Trade and Investment, Minister of State for Finance, and now Minister of State for Budget and Economic Planning.