The Senate has confirmed the appointment of Taiwo Oyedele as a minister-designate under the administration of President Bola Tinubu.
The Senate President, Senator Godswill Akpabio, announced the confirmation after lawmakers cleared the nominee through a voice vote in the Committee of the Whole.
Oyedele is expected to replace Mrs. Doris Uzoka-Anite as Minister of State for Finance.
The confirmation of the outgoing chairman of the Presidential Committee on Fiscal Policy and Tax Reforms followed his screening by the lawmakers on Wednesday.
Senators spent over two hours grilling the nominee before eventually confirming him as a minister-designate.
Answering questions from the lawmakers, Oyedele described his nomination as the Minister of State for Finance as a call to serve Nigeria.
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“With over two decades of experience working with national governments, multilateral institutions, and global corporations, my journey across the private sector, academia, and public policy has focused on fiscal governance and economic transformation,” the 50-year-old told senators.
“However, this moment is not about personal accomplishments; it is a call to serve at a critical time when Nigeria faces significant fiscal challenges and remarkable opportunities.”
President Bola Tinubu nominated Oyedele to replace Doris Uzoka-Anite, who was moved to serve as the minister of Budget and National Planning.
Days after his nomination, President Tinubu forwarded his name to the Red Chamber, seeking the lawmakers’ confirmation.
At the event, Oyedele praised Tinubu for nominating him as a minister and tagged his appearance before the Senate as an honour.
“I am deeply honoured to appear before this distinguished chamber today. I thank President Bola Ahmed Tinubu, GCFR, for the confidence reposed in me through this nomination, and I thank the Senate for the opportunity to share my vision,” the public policy expert, accountant, and economist told the lawmakers.
Before his appointment, Oyedele served as the tax reforms committee chair, masterminding the enactment of a new tax regime in Nigeria.
While he was appointed to that position in July 2023, it took Oyedele and his team over two years to rejig Nigeria’s tax laws.
Though there were pushbacks initially about the laws, they eventually went live on January 1, signalling a fresh era.
The laws are targeted at significantly transforming tax administration in the country, leading to increased revenue generation, an improved business environment, and a boost in domestic and foreign investments.
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