Many Nigerians were taken aback on Tuesday evening following the announcement of the removal of former Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
In a statement issued by the Secretary to the Government of the Federation, George Akume, President Bola Ahmed Tinubu approved the sack of Edun alongside the Minister of Housing and Urban Development, Ahmed Dangiwa, as part of a minor cabinet reshuffle.
Following the decision, the President elevated the Minister of State for Finance, Taiwo Oyedele, to assume the position of substantive Minister of Finance and Coordinating Minister of the Economy. He also nominated Muttaqha Darma as Minister-designate for Housing.
Edun, who was appointed in August 2023, had been in charge of Nigeria’s fiscal management and economic coordination, continuing a long-standing professional relationship with Tinubu that dates back to their time in Lagos, where he served as commissioner for finance between 1999 and 2004.
As exclusively reported by PREMIUM TIMES, despite being regarded as a close ally of the President, sources indicated that friction had developed between both men in recent months.
The disagreements were reportedly linked to concerns over inadequate capital budget releases and delays in budget implementation, which disrupted the traditional January–December fiscal cycle.
Particularly, the slow disbursement of funds for capital projects drew heavy criticism, with reports that the President received numerous complaints from ministers and lawmakers over stalled projects and unpaid contractors.
Earlier in February, some federal lawmakers accused Edun of recording minimal progress in executing the 2025 capital budget, despite the approval of substantial funds by the National Assembly.
They pointed to widespread dissatisfaction among ministries, departments and agencies over funding gaps, while opposition lawmakers reportedly threatened moves to push for his removal.
In response, Edun defended the government’s position, explaining that authorities had discontinued the practice of printing money to settle obligations, opting instead to focus on debt servicing and fiscal discipline.
He also stated that about 80 per cent of the 2024 budget had been implemented and assured that releases for the 2025 capital budget were underway, with completion targeted for December 2025.
However, insiders revealed that the President was not fully convinced by the explanations, despite several interventions with the economic team.
Tensions reportedly escalated during a Federal Executive Council meeting in December 2025, where a disagreement between the President and the former minister became heated.
A source familiar with the development disclosed that the situation became so tense that security aides had to step in to calm the exchange.
“From that moment, it was clear that his position had become uncertain,” the source said.
Subsequently, some of Edun’s responsibilities were reassigned to the office of the Minister of State for Finance, then held by Doris Uzoka-Anite, signalling a gradual shift in the structure of the finance ministry.
Although Edun reportedly made efforts to reconcile with the President, including a visit to Lagos, sources said the move did little to mend the strained relationship.
Observers within government circles noted that the appointment of Oyedele as Minister of State for Finance in March was an early indication that a change in leadership was imminent.
His eventual removal, they said, marked the end of a long-standing working relationship between the two figures and a significant shift in the administration’s economic team.
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