President Bola Tinubu’s removal of Wale Edun as Minister of Finance and Coordinating Minister of the Economy may have seemed abrupt, but insiders say it had been building for months.
The first public hint came when Tinubu failed to acknowledge Edun’s 70th birthday, even as he celebrated other prominent Nigerians. A day later, Edun was out of the cabinet, confirming what many within government circles already expected.
Sources say the president had asked Edun to step down as early as October 2025, but the minister managed to remain in office after lobbying. Despite this, his influence steadily declined. Key responsibilities such as revenue generation, allocation, and domestic debt management were transferred to the minister of state, Doris Uzoka-Anite, effectively sidelining him from core financial decisions.
Edun’s approach to fiscal management also drew criticism. His focus on debt servicing, salaries, and pensions reportedly left little funding for capital projects, leading to complaints from ministries, departments, and agencies, as well as unpaid contractors.
Tensions worsened over disagreements on funding major infrastructure projects and broader policy direction. Insiders also point to a moment when Edun presented revenue projections that contradicted earlier statements by the president, raising concerns about coordination within the administration.
Reports of strained interactions during cabinet meetings further weakened his standing, with some aides said to have lost confidence in his leadership.
Although speculation about his exit had circulated for months, including rumours about his health, Edun continued to appear in public until his removal was confirmed.
His exit marks the end of a long relationship with Tinubu, dating back to 1999 when he served as Lagos State Commissioner for Finance.
With his departure, the administration is expected to recalibrate its economic team as it navigates ongoing fiscal challenges.
