Tag: Edun

  • Wale Edun Sack, an Appraisal

    Wale Edun Sack, an Appraisal

     

    By Iniobong Udoh II

    For many people, Wale Edun being sacked as the Minister of Finance, came as a surprise, but for me, it didn’t. If anything, it took longer than I expected.

    Because one thing you should already know about this government led by BAT, the Landlord of Bourdillon, is simple. You are not meant to speak truth to power. You are not meant to think for the masses. You are not meant to contradict the script. And if you do, your time is usually short.

    Now let’s talk about what actually happened with Wale Edun.
    Because this was not just a case of “poor performance” or “he’s sick” like they want it to sound. This was a chain of public disclosures that started shifting the internal balance.
    And once that happens in politics, especially at that level, things don’t remain the same.

    On 16th December 2025, Wale Edun publicly said Nigeria missed its 2025 revenue target by about ₦30 trillion.
    That is not a small gap. That is a structural shortfall. A number that immediately changes how people interpret the state of the economy.

    And in that same period, he added something even more sensitive.
    He explained that while projections were around ₦40.8 trillion, actual revenue was about ₦10.7 trillion.

    So you have a situation where what was expected and what was actually achieved are completely different realities.

    In any system, that kind of gap is not just technical. It is political.

    Then in February 2026, he confirmed that a forensic audit of NNPC revenue flows was already ongoing to track deductions and remittances.
    Now this is where it gets more serious.
    Because once you start pushing for forensic audits in sensitive revenue areas, you are no longer just reporting numbers. You are opening systems that many prefer to stay quiet.

    Still in December 2025, he disclosed that about 70 percent of the 2025 capital budget was being rolled over into 2026.
    Meaning a large portion of planned government projects were not executed within the year they were meant for.

    By early 2026, lawmakers were already describing it as severe underperformance, with accusations of very low implementation of capital projects.
    That alone tells you the scale of the problem.

    Then on 10th December 2025, reports surfaced of a heated exchange between him and the Landlord of Burdilon at a Federal Executive Council meeting.

    The issue was simple but heavy. Revenue performance was not matching expectations, and capital project delivery was lagging.
    At that point, anyone watching closely could already sense the direction things were heading.
    Because in systems like this, once internal disagreement becomes public tension, it rarely ends in stability.

    Now fast forward.
    Taiwo Oyedele steps in to take over from Wale Edun.
    And immediately, people start debating experience, competence, and suitability.
    But if you understand how this kind of system works, you know that is only one layer.
    The deeper layer is alignment. The ability to fit into the direction without disrupting the narrative.

    Let’s be fair.
    Wale Edun is not a small figure in finance. He has deep experience in investment banking, macroeconomic systems, and international financial structures. He understands how economies are built and managed at scale.
    That is part of why his public disclosures carried weight.

    Taiwo Oyedele, on the other hand, is experienced in taxation and policy advisory. That is his strength and his lane.

    But a country’s finance system is not just tax policy. It is a full structure that includes debt management, currency stability, investment confidence, and economic direction all working together.

    So when you narrow it too much to one angle, you are already changing the scope of the job.

    But even beyond that comparison, the real story is the pattern.

    Tinubu doesn’t care about the masses, his mission is to tax poor Nigerians to death, that’s why Taiwo is hos best fit for the position of a space that needs a more knowledge person

    Because what is becoming clear is this.
    When you align, you stay. When you contradict too openly, especially on sensitive numbers and performance, you become replaceable.
    Not because you are not good, but because you are no longer aligned.

    That is why I don’t get emotional about appointments in this system.
    Because it is not only about what you know.
    It is about how long you can remain inside the acceptable narrative without stepping outside it.
    Once you do, things move quickly.

    And let me say it plainly.
    Wale Edun forgot to drop his functional brain at home when he accepted to work with Tinubu and APC. Because just like Daniel Bwala said, once you enter APC, your brain stops working.
    Whether people agree with that statement or not, the pattern of events keeps making people reference it.

    Do I feel sorry for Wale Edun?
    Not really.
    He understood the environment he was in.
    Nobody enters that level of power under the Landlord of Bourdillon expecting full independence of thought and expression.
    That is not how it works.

    And this is the part that should make people pause.
    This is not just about one exit and one replacement.
    It is about a system where truth becomes uncomfortable, numbers become political, and loyalty slowly becomes more important than clarity.

    Nigeria has entered one chance.
    And the most worrying part is not even what is happening at the top.
    It is how normal it is starting to feel at the bottom.
    People are adjusting instead of questioning, watching instead of analyzing, surviving instead of challenging.

    But if you step back and really look at it, the pattern is clear.
    This is not just about Wale Edun.
    It is about how power responds when truth starts disrupting comfort.

     

  • Wale Edun, former Finance Minister, and Musa Dangiwa, Housing Minister, resigned; they were not sacked

     

    By Iyiola Olalere

    Former Finance Minister and Coordinating Minister of the Economy, Mr Wale Edun, duly tendered his resignation from office, citing health reasons,  before President Bola Ahmed Tinubu announced his replacement on Tuesday.

    STATEHOUSE PRESS RELEASE

    Wale Edun, former Finance Minister, and Musa Dangiwa, Housing Minister, resigned; they were not sacked

    Former Finance Minister and Coordinating Minister of the Economy, Mr Wale Edun, duly tendered his resignation from office, citing health reasons,  before President Bola Ahmed Tinubu announced his replacement on Tuesday.

    Also, the former Minister of Housing and Urban Development, Ahmed Musa Dangiwa, similarly resigned and thanked the President for the opportunity given him to serve in the Federal Executive Council.

    Edun, who clocked 70 on Monday and has battled recent ill health, fittingly submitted his resignation letter on his birthday, thanking the President for the opportunity to serve Nigeria.

    “It has been a pleasure and privilege to serve your administration and the Renewed Hope Agenda”, his letter read.

    “Under your leadership, Nigeria has emerged stronger, more resilient and more internationally respected.

    “I wish you and the administration every success in the future”, he wrote.

    On Tuesday, before the Office of the Secretary of the Government of the Federation announced his departure from the Cabinet, Edun paid a valedictory visit to the President at the Villa. He held an hour-long discussion with the president and then left to focus on his private businesses.

    Dangiwa, an architect, previously served as the managing director of the Federal Mortgage Bank between 2015 and 2022, as well as  Secretary to the Katsina State Government, before President Tinubu appointed him as housing minister in August 2023.

    Edun, an economist and investment banker, served as Lagos State commissioner for finance between 1999 and 2004, during the tenure of then Governor Bola Tinubu.

    Before then, he worked from 1980 to 1986 at Chase Merchant Bank (later Continental) in Lagos. He joined the World Bank in September 1986 through the elite Young Professionals program, where he worked on economic and financial packages for several countries in Latin America and the Caribbean.

    In 1989, he co-founded Investment Banking & Trust Company Limited (now Stanbic IBTC) and served as executive director. In 1994, he founded Denham Management Limited, which has since become the Chapelhill Denham Group. He served as chairman from 2008 to 2021.

    President Tinubu has expressed deep appreciation to Edun and Dangiwa for their dedicated service and significant contributions to the administration’s economic reform programme and wished them continued success in their future endeavours.

    In the same vein, the President has urged the new Minister of Finance, Taiwo Oyedele, to consolidate ongoing reforms and advance the administration’s fiscal and economic objectives with renewed focus, discipline, and innovation.

    President Tinubu will shortly send the ministerial nominee for housing, Muttaqha Rabe Darma, also from Katsina, like Dangiwa, to the Senate for confirmation.

    Bayo Onanuga, the Special Adviser to the President on Information & Strategy, disclosed this in a statement.

    Also, the former Minister of Housing and Urban Development, Ahmed Musa Dangiwa, similarly resigned and thanked the President for the opportunity given him to serve in the Federal Executive Council.

    Edun, who clocked 70 on Monday and has battled recent ill health, fittingly submitted his resignation letter on his birthday, thanking the President for the opportunity to serve Nigeria.

    “It has been a pleasure and privilege to serve your administration and the Renewed Hope Agenda”, his letter read.

    “Under your leadership, Nigeria has emerged stronger, more resilient and more internationally respected.

    “I wish you and the administration every success in the future”, he wrote.

    On Tuesday, before the Office of the Secretary of the Government of the Federation announced his departure from the Cabinet, Edun paid a valedictory visit to the President at the Villa. He held an hour-long discussion with the president and then left to focus on his private businesses.

    Dangiwa, an architect, previously served as the managing director of the Federal Mortgage Bank between 2015 and 2022, as well as  Secretary to the Katsina State Government, before President Tinubu appointed him as housing minister in August 2023.

    Edun, an economist and investment banker, served as Lagos State commissioner for finance between 1999 and 2004, during the tenure of then Governor Bola Tinubu.

    Before then, he worked from 1980 to 1986 at Chase Merchant Bank (later Continental) in Lagos. He joined the World Bank in September 1986 through the elite Young Professionals program, where he worked on economic and financial packages for several countries in Latin America and the Caribbean.

    In 1989, he co-founded Investment Banking & Trust Company Limited (now Stanbic IBTC) and served as executive director. In 1994, he founded Denham Management Limited, which has since become the Chapelhill Denham Group. He served as chairman from 2008 to 2021.

    President Tinubu has expressed deep appreciation to Edun and Dangiwa for their dedicated service and significant contributions to the administration’s economic reform programme and wished them continued success in their future endeavours.

    In the same vein, the President has urged the new Minister of Finance, Taiwo Oyedele, to consolidate ongoing reforms and advance the administration’s fiscal and economic objectives with renewed focus, discipline, and innovation.

    President Tinubu will shortly send the ministerial nominee for housing, Muttaqha Rabe Darma, also from Katsina, like Dangiwa, to the Senate for confirmation.

     

  • Breaking: Edun, Dangiwa replaced as ministers by Tinubu

    Breaking: Edun, Dangiwa replaced as ministers by Tinubu

     

    The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Minister of Housing and Urban Development, Ahmed Musa Dangiwa, have exited the cabinet of President Bola Ahmed Tinubu, with their replacements named.

    Tinubu approved the cabinet reshuffle made known by the Secretary to the Government of the Federation, Senator George Akume.

    In a memo signed by Akume, the replacements for Edun and Dangiwa were also named.

    Edun has been directed to hand over to Taiwo Oyedele, who is now to take over as the Minister of Finance and Coordinating Minister of the Economy.

    Oyedele was formerly a Minister of State in the ministry.

    Also Muttaqha Rabe Darma has been named as the ministerial nominee and minister-designate for the Housing and Urban Development Ministry.

    The memo also directed Dangiwa to hand over to the Minister of State in the ministry.

    The memo stated: “All handing over and taking over processes should be completed on or before close of business on Thursday 23rd April, 2026.”

    Explaining the President’s decision, Akume said: “These changes are aimed at strengthening cohesion, synergy in governance as well as achieving more impactful delivery on the economy to Nigerians, through the Renewed Hope Agenda.”

    He said the President, in approving the cabinet reshuffle, has fully exercised his powers as conferred on him by Sections 147 and 148 of the Constitution of the Federal Republic of Nigeria (1999, as amended).

    Tinubu thanked the outgoing ministers for their services to the nation while wishing them the best in all their future endeavours.

    The President, Akume noted, equally assured all cabinet members that “the process of reinvigoration shall be continuous”.