Fresh details have emerged on the circumstances that led to President Bola Tinubu’s removal of Wale Edun as Minister of Finance and Coordinating Minister of the Economy, following a cabinet reshuffle that caught many Nigerians off guard.
The shake-up, announced Tuesday by the Secretary to the Government of the Federation, George Akume, also saw the exit of the Minister of Housing and Urban Development, Ahmed Dangiwa.
In a swift replacement, the President elevated Taiwo Oyedele from Minister of State for Finance to take over the top economic portfolio, signalling a decisive shift in the administration’s fiscal leadership.
As exclusively reported by Premium Times, findings indicate that removal was the climax of mounting pressure over poor capital budget implementation and growing dissatisfaction within the government’s economic team.
Sources familiar with the development said the President had been inundated with complaints from ministers and lawmakers over inadequate release of funds for capital projects, a situation that repeatedly disrupted the country’s budget cycle.
The discontent peaked earlier in the year when federal lawmakers accused the former minister of failing to implement the 2025 capital budget, despite approvals running into trillions of naira.
Ministries, departments and agencies were also said to have raised concerns over funding shortfalls and unpaid contractors.
Although Edun had defended his record, insisting that the government had halted deficit financing through money printing and was prioritising debt obligations, insiders said his explanations failed to convince the President.
Presidency sources disclosed that tensions between Tinubu and Edun had been simmering for months, with several interventions failing to resolve differences over fiscal management.
The situation reportedly worsened after a heated exchange at a Federal Executive Council meeting in December 2025, where disagreements over budget releases became pronounced.
An official privy to the meeting said the fallout marked a turning point in their relationship, with the President subsequently redistributing some of Edun’s responsibilities.
From that moment, sources said, the minister’s grip on the strategic finance portfolio began to weaken, as the President quietly explored alternatives.
Despite attempts by Edun to rebuild his relationship with the President, including a recent visit to Lagos, insiders said access to Tinubu became increasingly limited.
The appointment of Oyedele as Minister of State for Finance in March was widely interpreted within government circles as a precursor to the eventual change.
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With Tuesday’s decision, the long-standing political and professional alliance between Tinubu and Edun appears to have come to an abrupt end, underscoring the administration’s resolve to recalibrate its economic management amid mounting public and institutional pressure.
