President Bola Tinubu’s removal of Wale Edun as Minister of Finance and Coordinating Minister of the Economy was driven by internal tensions within the economic management team, Presidency sources told BusinessDay on Tuesday, as details emerged of a decision insiders say had been in motion for weeks.
Edun was replaced by Taiwo Oyedele, a tax expert and former Minister of State for Finance, in a cabinet reshuffle that also affected the Housing and Urban Development Ministry.
While the presidency publicly framed the changes as part of efforts to strengthen cohesion and improve delivery under the Renewed Hope Agenda, officials familiar with the matter said the decision followed concerns over coordination breakdowns and strained working relationships within the finance ministry.
According to multiple sources at the Presidential Villa, Edun’s exit was not abrupt but the culmination of prolonged friction within the ministry, particularly between him and ministers of state assigned to support fiscal coordination.
“He didn’t flow well with the ministers of state working with him,” one senior official said, pointing to former Minister of State for Finance Doris Uzoka-Anite. “There was a lack of synergy, and it became a concern at the highest level.”
Officials also cited broader coordination challenges within the ministry that, at times, slowed execution and created friction across economic agencies. The situation, they said, became increasingly difficult for the presidency to ignore amid rising pressure to accelerate reforms and stabilise fiscal management.
“The President was uncomfortable with how things were playing out,” another source said. “There were concerns about coordination, communication gaps, and the overall efficiency of the team.”
Tensions were also said to have extended to Oyedele prior to his elevation, despite his earlier appointment as Minister of State for Finance. Sources said the lack of cohesion among senior officials in the ministry contributed to the President’s decision to restructure the leadership entirely.
“The feeling was that the arrangement was not working,” a source said. “And it needed to be fixed quickly.”
Oyedele’s elevation is widely interpreted within government circles as a strategic shift aimed at strengthening the administration’s tax and fiscal reform agenda. He has played a central role in ongoing tax policy reforms under Tinubu’s economic team.
Sources further revealed that the President had previously considered other options, including the Chairman of the Nigeria Revenue Service, Zacch Adedeji, before settling on Oyedele, whose technical background and reform credentials were viewed as a stronger fit for the role.
“The President is more comfortable with Oyedele given his experience and involvement in ongoing reforms,” one official said.
Edun, according to sources, was not formally briefed on the decision before returning from international engagements in Washington earlier on Tuesday.
The Secretary to the Government of the Federation, George Akume, in an official memo, directed that all handover processes be completed by Thursday, April 23, 2026, describing the reshuffle as part of efforts to “strengthen cohesion and synergy in governance.”
Akume said the President exercised his constitutional powers under Sections 147 and 148 of the 1999 Constitution (as amended), while thanking outgoing ministers for their service.
Although officially described as a routine adjustment, the shake-up underscores growing pressure within the administration to streamline economic coordination at a time of heightened fiscal strain and reform implementation challenges. (BusinessDay, except headline)
