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Oyedele Formally Assumes Office as Finance Minister Vows to Sustaim Reform Momentum
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.
The Minister of the Federal Capital Territory (FCT), Nyesom Wike has appointed Alhaji Onsachi Musa ldris, as the Senior Special Assistant on Procurement.
Idris, who became the Director, Federal Capital Territory Administration’s Procurement in July 2021, retired from the civil service today, April 24, 2006.
A statement on Friday, by the Minister’s Senior Special Assistant on Public Communications and Social Media, Lere Olayinka, described Idris as a seasoned public servant with over 30 years of experience in administration, finance, and public sector procurement management.
He rose to the position of Director, Common Services (Procurement) in August 2019 and was later redeployed to the Department of Procurement as Director FCT Procurement in July 2021, where he played critical roles in overseeing procurement processes and ensuring compliance with
regulatory standards.
Over the years, Idris has gained extensive experience across key administrative and Procurement functions, contributing to institutional efficiency and service delivery.
The appointment takes immediate effect.
Residents of Kubwa in the Federal Capital Territory (FCT) have commended President Bola Ahmed Tinubu over the construction of roads, especially in the satellite towns by the Federal Capital Territory Administration, under the FCT Minister, Nyesom Wike.
One of the residents, Prosper Onyenaucheya, who spoke during the minister’s inspection of the ongoing construction of Kubwa-Gbazango road, otherwise called Arab Road on Friday, praised the Federal Capital Territory Administration under the leadership of Wike, for prioritizing projects that directly impact communities.
During the inspection, Wike expressed satisfaction with the pace and quality of work on the road projects, which include Karu township roads, Apo-Karshi road and Kubwa – Gbazango road, otherwise called Arab Road, noting that many of them will be commissioned during the third anniversary of President Tinubu’s administration.
The Minister also reaffirmed the FCT Administration’s commitment to opening more roads across the FCT and making Abuja cleaner and more organized through sustained infrastructural development and urban renewal.
Addressing the FCT Minister in Kubwa during the inspection, Prosper Onyenaucheya said; “You are doing a very wonderful work and the work is going fast.
“We want to thank you for the speed of the light with which the work has been going on here. Thank you very much Mr Project. We have felt your presence.
“The truth is that you have helped to promote the scorecards of our President. You are doing well. I know that Nigerians will miss this administration because of your work.”
Fielding questions from journalists after the inspection, Wike assured that the Karu township roads will be among the projects to be inaugurated as part of the third anniversary of the President.
He also commended Abdul Val Nigeria Ltd, the contractor handling the Karu Road, stretching from Karu Interchange to Customs Clinic Junction, saying; “You can see that the job is going on well. What impressed me so much is that it is being handled by a local contractor, and you can see the quality of work being done there.
“The contractor has demonstrated that if they are given the opportunity, our local contractors can also complete with the foreign ones.”
On the Kubwa – Gbazango road, the minister said with the assurance being given by the contractor, the road will also be among those to be commissioned in June, this year.
The Federal Government has approved an increase in peculiar allowances and other welfare benefits for civil servants.
Nigeria’s Head of the Civil Service, Didi Walson-Jack, disclosed this during a press briefing in Abuja on Friday, in a move expected to increase the take-home pay of civil servants and boost the morale of the government’s workforce.
Walson-Jack said the increment affects workers under the Consolidated Public Service Salary Structure (CONPSS) and the Consolidated Research and Allied Institutions Salary Structure (CONRAISS).
This is targeted at ensuring a broad-based impact across all cadres of the civil service.
According to her, the allowances have been structured to reflect across all grade levels, leading to better earnings for senior and junior officers.
Meanwhile, the Federal Government has approved a review of some key allowances for civil servants.
Some of them include duty tour allowance (DTA), estacode, and book allowance.
The head of service said almost all allowances in the Public Service Rules have been revised.
One key reform is the approval of 100 percent DTA, which is for civil servants attending approved training programmes irrespective of whether travel is involved or not.
She said, “Even if you are based in Abuja and attend training within Abuja, you are entitled to full DTA.”
Apart from salary-related adjustments, the Federal Government has also introduced an exit benefit scheme for retiring civil servants under the Contributory Pension Scheme.
The scheme, which provides 100 per cent of a retiree’s full emoluments as an exit package, in addition to their pension, takes effect from January 1, 2026.
For the head of service, the move is part of efforts to enhance dignity in retirement. She maintained that no public servant should leave service without adequate financial support.
The Federal Government equally confirmed the operationalisation of the Employee Compensation Scheme, aimed at financially protecting workers who suffer job-related injuries or death.
Nigeria’s latest reforms followed an increase in calls from labour unions for improved welfare for civil servants as the cost of living continues to soar, putting more pressure on workers.
It comes about two years after the Federal Government approved a salary rise of between 25% and 35% for civil servants on the remaining six consolidated salary structures.
The salary structure includes the Consolidated Public Service Salary Structure (CONPSS), Consolidated Research and Allied Institutions Salary Structure (CONRAISS), Consolidated Police Salary Structure (CONPOSS), Consolidated Paramilitary Salary Structure (CONPASS), Consolidated Intelligence Community Salary Structure (CONICCS), and Consolidated Armed Forces Salary Structure (CONAFSS).
Support for Oyo Workers
In the meantime, Governor Seyi Makinde of Oyo State has announced a ₦10,000 monthly transportation support fund for civil servants in the state to cushion the impacts of the rising costs of living.
Makinde said this will run for an initial period of three months. According to him, the move is part of the Oyo government’s response to prevailing economic pressures, particularly the rising cost of transportation.
The governor said it will help lessen the financial burden on civil servants in the state and ensure uninterrupted service delivery across ministries, departments, and agencies.
“This support is a direct response to the realities our workers are facing,” Makinde said. “We understand that transportation costs have gone up significantly, and as a government, we must act to ease that burden.”
The transport allowance took effect in March, 2026.