Tinubu demotes Wale Edun, Finance Minister {SEE WHY}
By OUR REPORTER
It will be recalled that members of the opposition coalition’s African Democratic Congress (ADC) and other Nigerians has taken to their various social media platforms to ask for the All Progressives Congress (APC) and the Tinubu supporters groups to answer the question: “We have met our 2025; revenue target – Tinubu; the Federal Government may struggle to meet its 2025 revenue target, estimated at about N30 trillion – Edun.”
President Bola Ahmed Tinubu has reportedly reassigned several key financial oversight responsibilities from the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, to the Minister of Industry, Trade and Investment, Mrs. Doris Uzoka-Anite, in a move that has sparked widespread discussion within political and economic circles.
Multiple sources familiar with the development said the restructuring effectively reduced Mr. Edun’s direct control over major fiscal institutions and processes previously under his supervision.
Agencies and functions said to have been reassigned include revenue oversight, debt management coordination, cash-flow supervision, aspects of the Federation Account, and customs oversight.
Although no official statement has been issued by the Presidency explaining the reasons for the changes, sources within government attribute the move to internal disagreements over public financial disclosures and messaging.
According to these sources, tension reportedly arose following Mr. Edun’s public remarks acknowledging gaps between projected revenues and budgetary realities, including comments suggesting that the Federal Government may struggle to meet its 2025 revenue target, estimated at about N30 trillion.
The comments were seen in some quarters as conflicting with earlier public assurances from President Bola Ahmed Tinubu regarding revenue performance and fiscal stability.
It will be recalled that members of the opposition coalition’s African Democratic Congress (ADC) and other Nigerians has taken to their various social media platforms to ask for the All Progressives Congress (APC) and the Tinubu supporters groups to answer the question: “We have met our 2025; revenue target – Tinubu; the Federal Government may struggle to meet its 2025 revenue target, estimated at about N30 trillion – Edun.”
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Insiders say the Presidency viewed the remarks not merely as technical financial assessments but as public contradictions of the administration’s official position, which places a premium on disciplined and coordinated communication by senior officials.
Under the reported restructuring, Mr. Edun is said to retain his coordinating role, including engagements with international financial institutions such as the International Monetary Fund and the World Bank, as well as negotiations with foreign investors.
However, these responsibilities are now said to be largely advisory and diplomatic, without direct fiscal authority.
Mrs. Uzoka-Anite, who is regarded as a close ally of the President, has reportedly assumed the reassigned responsibilities, with sources describing her as a key figure in the administration’s effort to maintain unified policy execution and messaging.
The development has reportedly unsettled members of the Federal Executive Council, reinforcing the view that cabinet positions remain subject to strict adherence to presidential directives, regardless of seniority or long-standing political alliances.
There are also unconfirmed reports that Mr. Edun may consider stepping down from the cabinet following the changes, though government officials say no formal resignation has been submitted and that the minister continues to perform his duties.
As of the time of filing this report, the Presidency has not publicly commented on the matter.
