Tinubu Nominates Oyedele As Finance Minister Of State

PRESIDENT Bola Tinubu has nominated the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, as the Minister of State for Finance.
Oyedele is to replace Doris Anite-Uzoka, who has been redeployed to the Ministry of Budget and National Planning as Minister of State, her third portfolio in the administration.
A statement by his Special Adviser on Information and Strategy, Bayo Onanuga, on Tuesday, March 3, said Tinubu conveyed Oyedele’s nomination to the Senate for confirmation in a letter to the Senate President, Godswill Akpabio.
The 50-year-old economist, accountant and public policy expert led the comprehensive overhaul of Nigeria’s tax system through the presidential committee, inaugurated in August 2023, which delivered four Executive Bills that consolidated over 60 taxes into fewer than 10 statutes and introduced significant reforms, including zero income tax for Nigerians earning N800,000 annually or less.
The Tax Reform Acts, which became effective on January 1, this year, also exempted small businesses with turnover below N50million from company income tax, capital gains tax and development levy, a 50 per cent tax deduction for companies hiring new workers for three years, a 50 per cent deduction for wage increases to the lowest-paid employees and a five-year corporate tax holiday for agricultural enterprises.
Oyedele attended Yaba College of Technology, Lagos State, where he obtained a Higher National Diploma (HND) in Accountancy and Finance, before attending Oxford Brookes University for a BSc in Applied Accounting.
He completed executive education programmes at the London School of Economics, Yale University, the Gordon Institute of Business Science and the Harvard Kennedy School.
Oyedele joined PricewaterhouseCoopers in 2001 and spent 22 years, rising to become the Fiscal Policy Partner and Africa Tax Leader before his appointment to head the committee.
He is currently a professor at Babcock University in Ogun State and a visiting scholar at the Lagos Business School.
Anite-Uzoka previously served as Minister of State for Industry, Trade and Investment before her downgrading as Minister of State for Finance.
Oyedele is expected to be screened by the Senate in the coming weeks.