Nigeria: Finance Minister to Be Replaced Over Health Concerns

Reports from the office of Nigerian President Bola Ahmed Tinubu indicate that the country’s Minister of Finance, Wale Edun, is set to be temporarily relieved of his duties due to deteriorating health.

Edun has reportedly been battling an undisclosed illness for some time, with his doctors now recommending that he seek treatment abroad.

President Tinubu has therefore begun searching for someone to act in Edun’s position to ensure the smooth operation of the Finance Ministry during his absence.

“The president holds Minister Edun in very high regard. Health challenges are unfortunate, but government business must go on. What matters most now is his recovery,” a senior government official said.

Although a replacement has not yet been officially announced, analysts suggest that whoever takes over will likely continue Edun’s fiscal reforms, including efforts to stabilize inflation, align monetary and fiscal policies, and promote sustainable economic growth.

Appointed on August 21, 2023, Edun was tasked with rebuilding confidence in Nigeria’s financial markets, harmonizing fiscal and monetary strategies, and attracting investment into key sectors.

A longtime ally and financial adviser to President Tinubu, Edun played a key role in steering Nigeria’s economic recovery.

During his tenure, he implemented major reforms, such as removing fuel subsidies and expanding the Treasury Single Account (TSA) to improve tax collection and curb public sector leakages.

He also worked closely with Central Bank Governor Yemi Cardoso to coordinate monetary and fiscal measures that helped to slow rising inflation and stabilize the national economy.