Many Nigerians were taken by surprise on Tuesday evening following the removal of Wale Edun as Minister of Finance and Coordinating Minister of the Economy.
The development was announced in a statement by the Secretary to the Government of the Federation, George Akume, who said President Bola Tinubu approved the changes in a minor cabinet reshuffle.
Following the shake-up, the President elevated the Minister of State for Finance, Taiwo Oyedele, to the position of Minister of Finance and Coordinating Minister of the Economy.
In a related development, Ahmed Dangiwa was also removed as Minister of Housing and Urban Development, with Muttaqha Darma named as his replacement.
Edun was appointed in August 2023 to oversee Nigeria’s fiscal policy and economic planning, renewing a long-standing relationship with Tinubu dating back to their time in Lagos, where he served as commissioner for finance between 1999 and 2007.
Despite being regarded as one of the President’s close allies, sources who spoke with Premium Times said tensions had been building between the two men in recent months.
Insiders attributed the rift to growing dissatisfaction over low capital budget releases and delays in budget implementation, which disrupted Nigeria’s January-to-December fiscal cycle.
Federal lawmakers had in February accused Edun of recording “zero implementation” of the 2025 capital budget despite the approval of ₦1.15 trillion for capital expenditure.
The lawmakers cited complaints from ministries, departments and agencies over funding shortages and unpaid contractors, while some opposition members threatened moves to secure his removal.
In his defence, Edun maintained that the government had stopped the “unsustainable” practice of printing money to fund projects and was prioritising debt servicing.
He later assured that about 80 per cent of the 2024 budget had been implemented, adding that 2025 capital releases were ongoing toward a December completion target.
Clash At FEC Meeting
Sources said the relationship between the President and Edun deteriorated further following a heated exchange at a Federal Executive Council meeting on December 10, 2025.
An insider said the situation escalated to the point where a presidential aide intervened.
“From that point, it seemed that his goose was cooked,” the source said.
Following the incident, some of Edun’s responsibilities were reportedly reassigned to the office of the Minister of State for Finance.
Attempts by the former minister to mend relations, including a visit to Lagos, reportedly failed to ease tensions.
The appointment of Oyedele as Minister of State for Finance in March was seen by insiders as a signal of impending changes.
According to sources, it became clear at that point that Edun’s tenure in the cabinet was nearing its end.