- Safiu Kehinde
President Bola Tinubu has sworn in Taiwo Oyedele as the new Minister of State for Finance at the Aso Rock Presidential Villa, Abuja, days after Senate’s confirmation of his appointment.
NPO Reported that Oyedele had last week Wednesday appeared be the red chamber for his screening.
Sequel to his confirmation, Tinubu, on Monday swore in Oyedele as the Minister.
According to reports, the swearing-in ceremony took place at the President’s office at approximately 2:30 pm on Monday.
In his address, Tinubu commended Oyedele for his contributions to tax reforms and policy development in the country.
The President described his appointment as a strategic decision aimed at strengthening fiscal policy coordination and supporting the administration’s ongoing economic reforms.
He praised Oyedele’s role in reviewing Nigeria’s tax system, describing his work as critical to modernising the country’s fiscal framework.
“This is a very good day, and I thank you for accepting to serve your country, your motherland,
“You have rewritten the entire tax policy of this country that was obsolete, archaic and fundamentally against every progressive thinker.” He said.
The president said Oyedele’s dedication and determination made him suitable for the responsibility.
“You are a very dedicated and highly determined individual. It did not take much for me to decide where you fit and where you need to be,” He said.
Tinubu noted that the new minister would face significant responsibilities in managing fiscal policy at a critical period for the economy.
“It is a very challenging job to look at fiscal policy and the responsibilities that come with it at a time economic stability is being experienced without exponential growth.
“But you fit the bill, and I congratulate you,” The President added.
Tinbu also acknowledged the support of Oyedele’s family, particularly his wife, in enabling him to take up the national assignment.
Oyedele, from Ikaram, Akoko, Ondo State, is an economist, accountant and public policy expert. He attended Yaba College of Technology, where he obtained a Higher National Diploma (HND) in accountancy and finance, and later attended Oxford Brookes University, where he earned a BSc in applied accounting.
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.
Oyedele spent 22 years of his working career at PriceWaterhouseCoopers (PwC), joining in 2001 and rising to become the Fiscal Policy Partner and Africa Tax Leader.
He is also a professor at Babcock University in Ogun State and a visiting scholar at the Lagos Business School.
During his screening by the Senate last week, Oyedele expressed confidence in his wealth of experience which he maintained will significantly aid his contribution to the fiscal and economic decision of Nigerian government.
He maintained that Nigeria has remarkable opportunities despite its challenges.
“My professional journey across the private sector, academia and public policy has provided me with extensive experience in fiscal and economic matters.
“However, this moment is not about my personal accomplishment. It is a call to serve our country at a critical time when Nigeria faces significant physical challenges but also remarkable opportunities.
“The choices we make in public finance today, will shape the prosperity, stability, and well-being of Nigeria both now and in the nearest future.” Oyedele said.
The ministerial appointee thereafter decried the nation’s fiscal reality in regard to revenue generation he claimed to be very low as compared to the size of Nigeria’s economy.
“Our fiscal reality is well known. Government revenue remains low relative to the size of our economy while demands from government continues to rise from infrastructure to healthcare, to education, security, and social protection.” He said.
Oyedele maintained that Nigeria’s fiscal policy is not equally in alignment with the country’s industrialisation drive.