Economy
Tinubu Sacks Finance, Housing Ministers in Cabinet Shake-Up
President Bola Tinubu has approved a minor reshuffle of the Federal Executive Council, removing the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Minister of Housing and Urban Development, Ahmed Dangiwa, from their positions.
The development was disclosed in Abuja on Tuesday in a statement issued by the Office of the Secretary to the Government of the Federation (SGF). According to the statement, the decision was conveyed through an official memo signed by the SGF, George Akume.
As part of the changes, Taiwo Oyedele has been appointed as the new Minister of Finance and Coordinating Minister of the Economy. Oyedele, who was recently serving as Minister of State for Finance, is expected to take over leadership of Nigeria’s economic management team at a time of ongoing fiscal reforms and economic adjustments.
In a related move, Dr. Muttaqha Darma has been named Minister-designate for Housing and Urban Development, replacing Dangiwa. The reshuffle affects two critical sectors—finance and housing—both central to the administration’s economic recovery and development agenda.
The SGF’s memo directed the outgoing ministers to commence immediate handover processes to their successors or designated supervising officials. It further stipulated that all transition activities must be completed on or before the close of business on April 23, 2026, underscoring the urgency attached to the changes.
Explaining the rationale behind the reshuffle, Akume stated that the President’s decision was aimed at improving coordination within the cabinet and enhancing policy delivery across key sectors of the economy. “These changes are aimed at strengthening cohesion and synergy in governance, as well as achieving more impactful delivery on the economy to Nigerians,” he said.
The reshuffle is being interpreted by analysts as part of efforts to reinvigorate the administration’s economic team amid ongoing reforms under the government’s “Renewed Hope Agenda.” Since assuming office in May 2023, President Tinubu has introduced a series of bold economic measures, including the removal of fuel subsidies and the unification of foreign exchange rates—policies that have attracted both praise and criticism due to their immediate impact on the cost of living.
The finance ministry, in particular, has played a central role in managing Nigeria’s fiscal challenges, including revenue mobilisation, debt sustainability, and inflation control. Oyedele’s appointment signals a possible shift towards deeper tax reforms and improved revenue efficiency, areas in which he has previously demonstrated expertise.
Meanwhile, the housing sector remains a critical component of Nigeria’s development strategy, with millions of citizens facing housing deficits and rising urbanisation pressures. Observers say the appointment of a new minister could inject fresh momentum into housing policy implementation and infrastructure development.
Akume noted that the President acted in line with his constitutional powers under Sections 147 and 148 of the 1999 Constitution (as amended), which grant him authority to appoint and reshuffle members of the Federal Executive Council.
He also conveyed the President’s appreciation to the outgoing ministers for their service to the nation and wished them well in their future endeavours. The SGF added that cabinet adjustments would remain an ongoing process as the administration seeks to optimise performance.
The statement further recalled that Oyedele was appointed Minister of State for Finance in March 2026, while Edun had served in the cabinet since August 16, 2023.
As the reshuffle takes effect, attention will focus on how the new appointees navigate Nigeria’s economic challenges and deliver on the administration’s reform agenda.
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