Why Tinubu Removed Wale Edun as Finance Minister — Source

President Bola Tinubu has approved the removal of Wale Edun as Minister of Finance and Coordinating Minister of the Economy, citing concerns over budget execution and internal disagreements within the administration.

The decision was announced in a statement issued by George Akume, who said the president had also relieved Ahmed Dangiwa of his duties as Minister of Housing and Urban Development as part of a cabinet reshuffle.

“The President has approved the removal of the Honourable Ministers as part of ongoing efforts to reposition the administration for improved service delivery,” Mr Akume said.

Following the development, Taiwo Oyedele has been elevated from Minister of State for Finance to assume the role of Finance Minister and Coordinating Minister of the Economy, while Muttaqha Darma has been nominated to head the housing ministry.

Edun, appointed in August 2023, oversaw Nigeria’s fiscal policy during a period marked by increasing scrutiny over delayed capital releases and disruptions to the budget cycle.

Federal lawmakers had earlier criticised the finance ministry’s performance. One lawmaker, speaking during plenary, said the ministry recorded “zero implementation of the 2025 capital budget despite significant appropriations,” reflecting broader concerns among ministries and agencies over funding gaps.

Contractors and government agencies also raised complaints about unpaid obligations, intensifying pressure on the economic team.

In his defence, Edun had argued that the government was taking a different fiscal path. “We have stopped the unsustainable practice of printing money to meet obligations,” he said, adding that the administration was prioritising debt servicing while working toward improved budget performance.

Despite these assurances, sources within government said concerns persisted. “The president intervened several times, but he was not satisfied with the explanations given,” a senior official familiar with the discussions said.

Tensions reportedly escalated during a Federal Executive Council meeting in December 2025. “The exchange at the council meeting changed the tone of their relationship,” another official said. “From that point, it was clear things had broken down.”

Subsequently, some of Edun’s responsibilities were reassigned within the finance ministry, signalling a shift in the administration’s economic management structure.

Efforts to mend relations appeared unsuccessful. “He tried to reach out and resolve the issues, but access became more restricted,” an insider said.

The appointment of Oyedele as Minister of State for Finance in March was widely seen as an early indication of the impending change. “At that point, many of us knew the transition had already begun,” a government source said.