WHY TINUBU REMOVED WALE EDUN AS FINANCE MINISTER

Many Nigerians were taken aback on Tuesday evening following the announcement of Wale Edun’s removal as Nigeria’s Minister of Finance and Coordinating Minister of the Economy.
In a statement issued by the Secretary to the Government of the Federation, George Akume, President Bola Tinubu approved the removal of Mr Edun alongside the Minister of Housing and Urban Development, Ahmed Dangiwa, as part of a minor cabinet reshuffle.
The president promptly elevated the Minister of State for Finance, Taiwo Oyedele, to assume the role of Minister of Finance and Coordinating Minister of the Economy. He also nominated Muttaqha Darma as Minister-designate for Housing and Urban Development.
Mr Edun, who was appointed in August 2023, had been responsible for overseeing Nigeria’s fiscal policy and economic planning. His appointment renewed a longstanding professional relationship with Mr Tinubu dating back to their time in Lagos, where Mr Edun served as Commissioner for Finance between 1999 and 2004 during Mr Tinubu’s tenure as governor.
Despite being regarded as a close ally of the president, sources revealed that tensions had been building between the two over time. These strains were largely linked to widespread dissatisfaction with low capital budget releases and delays in budget planning, which have repeatedly disrupted Nigeria’s January to December budget cycle.
The slow release of funds for capital projects drew particularly strong criticism, with reports indicating that ministers and lawmakers had consistently raised concerns to the president.
In February, federal lawmakers accused Mr Edun of “zero implementation” of the 2025 capital budget, despite the National Assembly approving N1.15 trillion for capital expenditure. They cited complaints from ministries, departments, and agencies over inadequate funding and unpaid contractors.
Opposition lawmakers also threatened to push for his removal, along with that of the Accountant-General of the Federation, over the failure to meet expected capital disbursements.
Responding to the criticism, Mr Edun defended the administration’s approach, noting that the government had abandoned the “unsustainable” practice of printing money to settle obligations and was instead prioritising debt servicing. He later stated that about 80 percent of the 2024 budget had been implemented and that capital releases for 2025 were on track for completion by December.
However, insiders disclosed that the president remained dissatisfied despite repeated interventions with the economic team.
The situation reportedly escalated during a Federal Executive Council meeting on December 10, 2025, where an altercation occurred between the president and Mr Edun over the issue. The disagreement was said to have created significant tension, prompting a presidential aide to intervene and caution the minister.
Following that incident, some of Mr Edun’s responsibilities were reassigned to the Minister of State for Finance at the time, Doris Uzoka-Anite. This move, according to sources, signalled that the president had begun exploring alternatives for the position.
Efforts by Mr Edun to reconcile with the president reportedly proved unsuccessful, as his access to Mr Tinubu became increasingly limited. One source noted that the minister even travelled to Lagos in a bid to mend relations, but the meeting did little to ease the strained ties.
His eventual exit appeared imminent when Mr Oyedele was appointed Minister of State for Finance in March. Observers within government circles reportedly interpreted the move as a clear indication that Mr Edun’s tenure was nearing its end, marking the close of a long-standing professional relationship.
Source: Premium Times