Oyedele Fits The Bill For Fiscal Policy Job — Tinubu

President Bola Tinubu on Monday said the newly sworn-in Minister of State for Finance, Taiwo Oyedele, “fits the bill” for the responsibility of managing the country’s fiscal policy.

Tinubu spoke at the State House, Abuja, shortly after administering the oath of office on Oyedele.

The President praised Oyedele’s role in rewriting Nigeria’s tax policy, describing the previous system as obsolete and archaic.

“This is a very, very good day and Taiwo, I thank you for accepting to serve your country. You rewrote the entire tax policy of this country that was obsolete, archaic and fundamentally against every progressive thinker,” Tinubu said.

Describing the new minister as dedicated and determined, the President said it did not take long for him to determine where Oyedele would best serve in government.

“You are just a very dedicated and highly determined individual. It didn’t take much for me to decide where you fit and where you need to be to further help the country,” he added.

Tinubu acknowledged that managing fiscal policy comes with significant responsibility, particularly at a time when the country is experiencing economic stability without exponential growth.

“It is a very challenging job to look at the fiscal policy and responsibility that comes with it at the time that economic stability is being experienced, but without exponential growth. It is always very difficult, but you fit the bill,” the President said.

Tinubu also congratulated Oyedele’s wife, noting that public service often requires long hours and sacrifices from families.

“I thank you. I congratulate you. I congratulate your wife for being able to stand our challenge of time management and absence for long hours. This is additional responsibility, and I hope you continue to encourage him and support him adequately,” he said.

Speaking with State House correspondents after the ceremony, Oyedele expressed appreciation to the President for the opportunity to serve.

“The reward for doing a good job is more work, and I think it’s always a privilege to have the opportunity to serve your country, especially at the highest level,” he said.

Oyedele described his appointment as coming at a critical moment for Nigeria and pledged not to take the trust reposed in him for granted.

“I do not take the trust for granted. I’m grateful to Mr. President, but also very grateful to the generality of the Nigerian people, particularly stakeholders that have been very supportive of the work we’ve done to date,” he said.

He stressed that reforms must go beyond policy design to actual implementation.

“They say reforms are only as good as the paper on which they are written. What is really important is the diligent execution, and this is part of it — to move from policy formulation to execution,” Oyedele said.

The minister also assured Nigerians that he would give his best in the new role.

“One thing I can promise Mr. President and the Nigerian people is that I’ll give my very best at every point in time,” he said.

Speaking on priorities for fiscal and economic policy, Oyedele said the focus would include revenue mobilisation, spending efficiency, debt management and fiscal sustainability.

“The priorities are the priorities of the government, the priorities for our country, because the Ministry of Finance will not operate in isolation,” he said.

According to him, government must ensure that revenue generation improves while public spending delivers optimal value to citizens.

“For every one Naira that we earn, how can we optimize the value we get from it to meet the needs of our people?” he said.

He also emphasised the need for fiscal policy to align with other government policies and global economic realities, noting that Nigeria must position itself to manage challenges while taking advantage of opportunities locally and internationally.