President Bola Tinubu has approved the removal of Olawale Edun as Minister of Finance and Coordinating Minister for the Economy, and the appointment of Taiwo Oyedele as his successor.

The minor cabinet reshuffle within the Federal Executive Council (FEC), announced in Abuja on Tuesday also saw the exit of Ahmed Dangiwa from the Ministry of Housing and Urban Development.

A statement issued by the Secretary to the Government of the Federation, Sen. George Akume, and signed by his Special Adviser on Media and Publicity, Mr Yomi Odunuga said Edun had been directed to hand over to  Oyedele, who has now been elevated to the position. Oyedele previously served as Minister of State in the ministry.

The SGF also announced Mr Muttaqha Darma as ministerial nominee and Minister-designate for the Ministry of Housing and Urban Development to replace Dangiwa, has equally been directed to hand over to the Minister of State in the ministry.

Akume stated that all handing-over processes must be completed on or before the close of business on Thursday.

He explained that the changes were aimed at strengthening cohesion and synergy in governance, as well as enhancing economic delivery to Nigerians under the Renewed Hope Agenda.

The SGF noted that the President exercised his powers in line with Sections 147 and 148 of the 1999 Constitution (as amended).

He added that the President appreciated the outgoing ministers for their service and wished them success in their future endeavours.

Akume further said President Tinubu assured cabinet members that the process of reinvigoration would be continuous.