President Bola Ahmed Tinubu yesterday swore in Dr Taiwo Oyedele as minister of state for Finance with a charge on him to focus on consolidating the nation’s financial stability and accelerating economic growth.

Tinubu said he deliberately assigned Oyedele to the Finance Ministry because of his role in rewriting Nigeria’s tax policy framework and 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,” the President added.

Oyedele took over from Dr Doris Uzoka-Anite, who formally assumed office yesterday as the new minister of state for Budget and Economic Planning.

Noting that Nigeria has already achieved a measure of stability under ongoing reforms, President Tinubu said the task ahead of the new minister was for him to translate economic stability into sustained and accelerated growth through sound fiscal policy and effective implementation of reforms.

Looking directly at Oyedele, the President said: “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.’’

Tinubu acknowledged the sacrifices required for public service and thanked the new minister’s family for supporting his commitment to national service.

After the ceremony, Oyedele told reporters that his appointment was both a privilege and a responsibility.

He said his position offers him 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”, Oyedele said.

He expressed gratitude to the President and Nigerians for the trust placed in him.

“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 said.

According to him, the key priorities of the Ministry of Finance include strengthening revenue mobilisation, improving spending efficiency and ensuring fiscal sustainability.

The new minister said that the government must optimise the value derived from every naira earned to meet the growing expectations of Nigerians.

“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 also align with monetary policy, trade policy and broader global economic realities.

Oyedele also stressed the importance of positioning Nigeria to better navigate global economic uncertainties while maximising opportunities for national development.

Ondo State Governor Lucky Aiyedatiwa, who witnessed the ceremony, thanked President Tinubu for appointing Oyedele, whom he described as one of Nigeria’s leading experts in fiscal and tax policy.

The governor noted that Oyedele was not new to the nation’s tax reform process, having previously led a team of experts that reviewed Nigeria’s fiscal and tax regime.

“For him to have been appointed for the execution of the same reform, I know Mr President has done the right thing,” Aiyedatiwa said.

He thanked the President for ‘’considering Oyedele not because he is from Ondo State but because he merits the position.’’

Oyedele’s appointment is expected to strengthen the implementation of fiscal reforms aimed at boosting government revenue, improving public spending efficiency and sustaining Nigeria’s ongoing economic recovery.

The new Minister of State for Budget and Economic Planning, Dr Uzoka-Anite, assumed office yesterday with a promise to support Nigeria’s economic reforms and development priorities.

She was received by Minister of Budget and Economic Planning Abubakar Atiku Bagudu, who urged her to help steer the ministry’s mandate across federal, state, and local government levels.

Bagudu told Uzoka-Anite that the target of growing the country’s economy to $1 trillion by 2030 would be pursued vigorously.

He explained to her that the ministry, as the official planning authority of the country, is responsible for coordinating national development plans, harmonising fiscal and economic policies, and advising the President on strategic economic initiatives.

The minister noted that the upcoming National Development Plan (2026–2030) will guide investment priorities, economic reforms, and development programmes across Nigeria.

He recalled discussions of the National Economic Council(NEC), which identified priorities such as improving coordination among federal, state, and local governments—especially since state governments account for nearly 48 per cent of public expenditure—increasing investment in security, ensuring sustained funding for key infrastructure projects, and tackling illegal activities in the extractive sector, including crude oil theft and illegal mining.

Bagudu also pointed out the ministry’s efforts to coordinate international partnerships to support economic growth, citing the recent upgrade of Nigeria-China relations to a comprehensive strategic partnership, which has produced multiple agreements focused on economic cooperation.

In her remarks, Uzoka-Anite said that private sector participation was essential for achieving development goals, noting that 95 per cent of economic growth should be driven by the private sector, with the federal government contributing the remaining five per cent. She added that the government’s Renewed Hope programme should also be led by the private sector to succeed.

The minister expressed confidence in President Tinubu’s vision for the economy, saying: “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).”

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