President Bola Tinubu don officially swear in Taiwo Oyedele as the new Minister of State for Finance for Nigeria.
The swearing-in ceremony happen for the President office inside Aso Rock Presidential Villa, Abuja around 2:30pm on Monday, according to source wey attend the short ceremony.
The development come just five days after the Nigerian Senate confirm Oyedele nomination.
Earlier before the ceremony start, correspondents notice Oyedele and him wife as security officials clear them to enter the Presidential Villa around 2:09pm. The new minister wear navy blue suit while him wife appear for white traditional attire.
The Senate confirm Oyedele appointment on Wednesday, March 12 after long screening session wey last more than two hours. Senate President Godswill Akpabio later announce the confirmation after lawmakers adopt the recommendation of the Committee of the Whole.
Earlier on March 3, President Tinubu send letter give the Senate ask make dem confirm Oyedele nomination according to Section 147(2) of the 1999 Constitution.
Oyedele, wey come from Ikaram Akoko area of Ondo State, get more than 20 years experience for fiscal policy and tax administration.
Before this appointment, he serve as Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms. The committee lead major tax reform for Nigeria after dem launch am for August 2023.
The committee later produce four important executive bills wey reduce more than 60 different taxes to less than 10 major laws and introduce several reforms. One of the reforms include zero income tax for Nigerians wey dey earn ₦800,000 or less every year.
The four bills — Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill and Joint Revenue Board (Establishment) Bill — later pass through the National Assembly in 2025 after serious debate.
President Tinubu sign the bills into law on June 26, 2025 and the new tax reform laws begin work from January 1, 2026.
Under the reforms, small businesses wey their annual turnover no reach ₦50 million no go pay company income tax, capital gains tax or withholding tax again. Government also introduce incentives to encourage job creation and wage increase.
Oyedele study Accountancy and Finance for Yaba College of Technology where he obtain Higher National Diploma. He later earn BSc in Applied Accounting from Oxford Brookes University.
He also attend executive programmes for London School of Economics, Yale University, Gordon Institute of Business Science and Harvard Kennedy School.
Apart from government work, Oyedele na professor for Babcock University and also visiting scholar for Lagos Business School.
He take over from Doris Uzoka-Anite wey government redeploy go the Ministry of Budget and National Planning as Minister of State.
During him screening for Senate, Oyedele describe the nomination as opportunity to serve Nigeria at important time.
According to am, Nigeria dey face serious fiscal challenges but the country also get big opportunities for economic transformation if the right policies dey implemented.
