Oyedele pledges revenue boost, fiscal discipline after swearing-in as finance minister

The newly sworn-in Minister of State for Finance, Taiwo Oyedele, has pledged to strengthen revenue generation, improve government spending efficiency, and promote fiscal sustainability as part of efforts to support Nigeria’s economic stability and growth.

Speaking to State House correspondents on Monday after his inauguration by President Bola Tinubu at the Presidential Villa, Abuja, Oyedele said his priorities would align with the Federal Government’s broader economic agenda.

He identified revenue mobilisation as a major focus, noting the need to increase government income to meet growing financial obligations at both federal and sub-national levels.

The minister also stressed the importance of prudent spending, saying government must ensure maximum value from available resources to meet the needs of citizens.

He added that debt management and fiscal sustainability would remain central to the ministry’s policy direction, while emphasising the need to align fiscal policies with other government strategies, including monetary, trade, and international economic policies.

According to him, effective coordination of these policies would help Nigeria better navigate global economic uncertainties and geopolitical pressures while taking advantage of emerging opportunities.

Oyedele described his appointment as a privilege, particularly at what he called a critical period in Nigeria’s economic journey, and expressed appreciation to President Tinubu for the confidence placed in him.

He also acknowledged the support of stakeholders and Nigerians involved in ongoing reform efforts, stressing that the success of reforms depends largely on effective implementation rather than policy formulation alone.