President Bola Tinubu has nominated the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Dr. Taiwo Oyedele, as Minister of State for Finance, further consolidating his administration’s push for wide-ranging fiscal reforms.
By Peterside Rejoice
The nomination was formally transmitted to the Senate in a letter addressed to Senate President Godswill Akpabio. The President’s Special Adviser on Information and Strategy, Bayo Onanuga, disclosed this in a statement issued on Tuesday, noting that the appointment is part of ongoing efforts to strengthen economic management and enhance revenue mobilisation.
Oyedele will replace Dr. Doris Anite-Uzoka, who has been redeployed to the Ministry of Budget and National Planning as Minister of State. Her reassignment marks her third ministerial role under the Tinubu administration, having previously served as Minister of State for Industry, Trade and Investment before moving to the Finance Ministry.
Until his nomination, Oyedele, a native of Ikaram in Akoko, Ondo State, led the Presidential Committee on Fiscal Policy and Tax Reforms inaugurated in August 2023. The committee was mandated to review, harmonise and modernise Nigeria’s tax system, which had long been criticised for being complex, burdensome and inefficient. Under his leadership, the committee drafted four executive bills aimed at simplifying the tax structure, broadening the tax base and creating a more investment-friendly environment.
The reform package consolidated over 60 different taxes into fewer than 10 major tax statutes, eliminating multiple taxation and streamlining compliance procedures. The Tax Reform Acts, which came into effect on January 1, 2026, introduced zero personal income tax for Nigerians earning N800,000 or less annually, a move targeted at protecting low-income earners and improving disposable income. Small businesses with annual turnover below N50 million were exempted from company income tax, capital gains tax and development levy, significantly reducing the compliance burden on micro, small and medium enterprises.
The reforms also introduced strategic incentives to stimulate employment and productivity. Companies that hire new workers are entitled to substantial tax deductions for up to three years, while firms that increase wages for their lowest-paid employees can claim significant deductions. Agricultural enterprises were granted a five-year corporate tax holiday to encourage investment in food production and agro-processing, in line with the government’s food security agenda.
Oyedele brings over two decades of private sector and policy experience to the role. He obtained a Higher National Diploma in Accountancy and Finance from Yaba College of Technology and later earned a Bachelor of Science degree in Applied Accounting from Oxford Brookes University. He also completed executive education programmes at the London School of Economics, Yale University, the Gordon Institute of Business Science and the Harvard Kennedy School, focusing on public policy, taxation and leadership.
He spent 22 years at PricewaterhouseCoopers, where he rose to become Fiscal Policy Partner and Africa Tax Leader, advising governments and multinational corporations on tax strategy and fiscal governance. His appointment to head the tax reform committee in 2023 marked a shift from private sector consultancy to direct public sector reform implementation.
Currently, Oyedele serves as a professor at Babcock University in Ogun State and is a visiting scholar at the Lagos Business School, where he contributes to policy research and executive education.
As Minister of State for Finance, he is expected to oversee the operationalisation and enforcement of the newly enacted tax laws, working closely with the substantive Minister of Finance, Wale Edun. The Finance Ministry is responsible for coordinating fiscal policy, managing public debt, supervising revenue-generating agencies and aligning budgetary frameworks with the administration’s broader economic objectives.
The Senate is expected to screen and confirm Oyedele’s nomination in the coming weeks. If confirmed, he will be sworn in and assume office at a critical time when the Federal Government is intensifying reforms aimed at stabilising the economy, improving investor confidence and ensuring sustainable revenue growth.
