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The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, has formally assumed office following the completion of the handover process by the former Minister, Mr. Wale Edun, OFR.

The handover was conducted Thursday 23rd April 2026, within the stipulated timeline following President Ahmed Bola Tinubu’s directive.

Mr. Edun’s period in office was marked by the advancement of key fiscal and economic reforms aimed at stabilising the macroeconomic environment and repositioning the economy for sustainable growth.

These included efforts to strengthen revenue performance, improve fiscal coordination, and support broader structural reforms under the Administration’s economic agenda.

The newly appointed Minister of Finance and Coordinating Minister of the Economy, Mr. Oyedele in his remarks commended the outgoing Minister for his service and contributions to the ongoing reform efforts in the economy.

He further expressed appreciation to President Bola Ahmed Tinubu GCFR for the confidence reposed in him to serve in this capacity. He also extoled Mr. Wale Edun for his service to the nation and wished him success in his future endeavours.

Welcoming the new Minister to the Ministry in this new capacity, the Permanent Secretary, Finance, Mr. Raymond Omachi and Permanent Secretary Special Duties, Mohammed Sanusi Danjuma pledged full support and loyalty of the Management and staff of the Ministry in advancing the Minister’s mandates.

Mr. Oyedele reaffirmed his readiness to working closely with the leadership and staff of the Ministry in order to deliver concrete outcomes aligned with the government’s economic priorities.

He emphasised the need to build on existing reforms while focusing on measurable impact across key sectors of the economy.

The assumption of office signals continuity in the Ministry’s service delivery to the nation, with focus on deepening economic reforms, fiscal discipline, and improved outcomes for Nigerians.

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Federal Capital Territory FCT minister Nyesom Wike is set to inspect Karu Township road due for completion by May 2026 in the next few minutes.

The minister has been monitoring projects in the Territory bumper to bumper to ensure completion in due time.

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The African Democratic Congress (ADC) Legislators’ Forum has strongly condemned the latest move by President Bola Ahmed Tinubu to secure Senate approval for an additional external loan of $516,333,070, ostensibly for the Sokoto–Badagry Super Highway project. 

This was contained in a statement issued and signed by the regional leaders of the Forum: Hon. Uko Ndukwe Nkole ,PhDChairmanADC -National Legislators’ Forum African  Democratic Congress (ADC)
Hon Nnenna Ukeje-SEHon Sergius Ogun-SSHon Ajagbe H -SWHon Zakari Mohammed -NCHon Koko Shehu -NWHon Maigari Bello M-NE stating that:
“This request is not only alarming but emblematic of an administration that has made reckless borrowing its default economic policy, with little regard for sustainability, accountability, or the wellbeing of future generations.

“While no responsible opposition undermines the importance of infrastructure development, we must ask: at what cost, and under what conditions? This government has failed to convincingly demonstrate that its endless appetite for loans is guided by a coherent, transparent, and economically viable repayment strategy. 

“Instead, Nigerians are witnessing a troubling pattern; one where debt accumulation is prioritized over prudent fiscal management, innovation, and domestic resource mobilization.

“Nigeria is already weighed down by a crushing debt burden, with debt servicing swallowing a staggering proportion of national revenue. Yet, rather than confronting this reality with discipline and reform, the Tinubu administration continues to plunge the country deeper into what can only be described as a looming debt catastrophe. Each new loan tightens the noose around the nation’s economic sovereignty, leaving future generations to pay for today’s lack of foresight.

“Even more disturbing is the timing of this request. As the nation inches closer to a major general election cycle, Nigerians are right to question the motives behind this borrowing spree.

” Is this truly about development, or is it another attempt to create avenues for political patronage and electoral advantage? History has taught us to be wary of last-minute, large-scale financial commitments made under the guise of national interest.

“The ADC Legislators’ Forum insists that the National Assembly must not act as a rubber stamp or Pro group of President Bola Ahmed Tinubu in this matter. 

“The Senate, in particular, must rise to its constitutional responsibility by demanding full disclosure of the project’s financial details, procurement processes, cost-benefit analysis, and a credible repayment plan. 
“Anything short of this would amount to a betrayal of public trust.

“Furthermore, we call on the administration to redirect its focus toward policies that can genuinely strengthen Nigeria’s economy; policies that promote productivity, industrial growth, job creation, and the plugging of revenue leakages. 

“Borrowing should never be a substitute for leadership, creativity, and accountability.

“We must clearly state that governance is not a free ride without consequences. Those who make decisions today that endanger the economic future of millions of Nigerians must understand that a day of reckoning will inevitably come. The Nigerian people will demand answers, accountability, and justice for policies that have deepened hardship and mortgaged the nation’s destiny.

“Nigeria stands at a critical crossroads. We can either choose the path of responsibility, discipline, and sustainable growth, or continue down this perilous road of debt dependency and economic vulnerability. The Tinubu administration must decide where it stands; but Nigerians are watching, and history will not be kind to those who fail this nation.