President Bola Tinubu has reportedly asked Minister of Finance and Coordinating Minister of the Economy, Wale Edun, to consider stepping aside, setting off intense behind-the-scenes manoeuvring aimed at saving his job.
Multiple sources are reporting the that although the President has stopped short of dismissing Edun outright, his confidence in the minister has waned significantly. In recent weeks, Edun has allegedly been under pressure to submit a voluntary resignation, a move insiders say is designed to preserve his public image while allowing the President to regain firm control of economic management.
Signs of Edun’s diminishing influence have become increasingly evident. The Minister of State for Finance, Doris Nkiruka Uzoka-Anite, has quietly taken over several core responsibilities previously handled by Edun, including budget execution, contractor payments, and revenue mobilisation. Senior officials describe the shift as deliberate and symbolic.
“This is a clear signal that the President wants tighter oversight of fiscal operations without triggering an open political confrontation,” a senior government source said.
Concerns about Edun’s performance are said to date back more than a year. In 2024, President Tinubu reportedly considered appointing tax reform advocate Taiwo Oyedele as minister of state for finance to address perceived gaps in economic coordination. That plan was shelved following last-minute political lobbying, which instead produced the appointment of Uzoka-Anite—herself once marked for removal from a previous cabinet role.
As pressure mounts, Edun is said to be reaching out to influential figures close to the President. Central to this effort is former APC chairman Chief Bisi Akande, whose renewed public closeness to Tinubu has not gone unnoticed in political circles.
Sources say Edun believes Akande could intervene on his behalf, drawing confidence from Akande’s past success in persuading Tinubu to reinstate Sunday Dare as a presidential aide after a prolonged fallout. Whether that influence will extend to Edun’s case remains uncertain.
Inside the finance ministry, tensions have been exacerbated by prolonged delays in payments to federal contractors, many of whom were owed verified sums under the 2024 and 2025 budgets. The backlog reportedly forced several indigenous firms into severe financial distress, attracting criticism from lawmakers and civil society groups.
The situation only eased after the issue was escalated directly to President Tinubu, leading to the eventual release of funds—a development sources say embarrassed the presidency and further weakened Edun’s standing.
Beyond payment delays, Edun’s relationship with the presidency is also said to have suffered over his involvement in commercial arrangements that lacked presidential approval. Combined with rising public debt and persistent cash-flow challenges, these issues reportedly prompted the decision to strip him of key powers.
While Edun has pushed reforms aimed at improving fiscal discipline and strengthening treasury controls, progress has been hampered by administrative delays and internal resistance.
With Uzoka-Anite now effectively in charge of day-to-day fiscal operations, the presidency appears focused on stabilising revenue flows, accelerating contractor payments, and tightening coordination with major revenue-generating agencies, including the NNPC.
Political observers view the unfolding changes as part of a broader recalibration of Tinubu’s economic team at a critical moment for Nigeria’s financial stability.
Attempts to obtain comments from the finance minister and the presidency were unsuccessful as of press time. \First reported by Empowered Newswire