President Bola Tinubu officially swore in Taiwo Oyedele as the Minister of State for Finance during a brief ceremony at the Presidential Villa in Abuja on Monday.
The event, which took place at approximately 2:30 p.m., solidifies Oyedele’s position as a key architect of the administration’s economic team.
His inauguration comes just five days after the Senate confirmed his nomination following a rigorous screening process.
During his appearance before the lawmakers, the renowned tax expert pledged to spearhead fiscal reforms designed to expand government revenue, ensure more realistic budgeting, and modernize Nigeria’s economic management framework.
President Tinubu had submitted Oyedele’s name for consideration to the lawmakers via correspondence on March 3, 2026, adhering to the provisions outlined in Section 147(2) of the nation’s 1999 foundational law.
Hailing from Ikaram-Akoko in Ondo State, the 50-year-old professional boasts of more than 20 years in the fields of government budgeting and revenue collection.
Prior to this role, he directed the executive panel focused on fiscal strategy and taxation overhauls, which was launched in August 2023.
Guided by his oversight, the panel crafted four significant legislative proposals designed to streamline the nation’s taxation processes.
These included perks like no income levies for citizens making N800,000 or below each year, along with relief from taxes for minor enterprises generating less than N50 million in yearly sales.
The quartet of proposals—encompassing the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and Joint Revenue Board (Establishment) Bill—gained approval from the federal legislature in 2025.
They were subsequently enacted by the president on June 26 of that year, with the updated taxation system becoming operational from January 1, 2026.
Oyedele’s career trajectory included a lengthy 22-year stint at PricewaterhouseCoopers beginning in 2001, culminating in his roles as head of fiscal strategy and continental taxation director for Africa.
His academic background features a Higher National Diploma in accountancy and finance from Yaba College of Technology, complemented by a bachelor’s in applied accounting from Oxford Brookes University in the UK.
To further refine his capabilities, he participated in advanced training at renowned centers such as the London School of Economics, Yale University, the Gordon Institute of Business Science, and the Harvard Kennedy School.
A lecturer at Babcock University, Oyedele is a visiting professor at the Lagos Business School, Lekki-Ajah.
Before ascending to this ministerial post, Oyedele, originating from Ikaram in the Akoko region of Ondo State, managed the Presidential Committee on Fiscal Policy and Tax Reforms, driving substantial revisions to Nigeria’s revenue collection mechanisms.
At age 50, he contributes profound knowledge in economics, accounting, and governance strategies to his new duties.
His learning path started with the diploma from Yaba College of Technology and progressed to the degree from Oxford Brookes.
Enhancing his expertise, Oyedele engaged in specialized courses at elite establishments including the London School of Economics, Yale, the Gordon Institute, and Harvard’s Kennedy School.
His professional experience at PwC spanned over two decades, where he climbed to prominent positions in fiscal advisory and regional tax oversight.
Over the years, he has occupied notable spots in both commercial and official sectors, such as deputy head of the National Tax Policy Committee affiliated with the Federal Ministry of Finance, where he shaped broad taxation adjustments.
Regionally, he presided over the elite advisory group for the West Africa Union of Tax Institutes concerning the ECOWAS unification initiative.
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