Newly sworn-in Minister of State for Finance, Taiwo Oyedele, has pledged to ensure the effective implementation of Nigeria’s tax reforms, stressing that policies must translate into measurable results.

Oyedele made the commitment on Monday shortly after President Bola Tinubu administered the oath of office at the Presidential Villa, Abuja.

Speaking with State House correspondents after the ceremony, the minister said the focus of his role would be to move tax reforms from policy formulation to practical execution.

“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,” he said.

Oyedele identified revenue mobilisation, spending efficiency, debt management and fiscal sustainability as his immediate priorities.

According to him, government must improve revenue generation to meet growing demands on public finances at both the federal and sub-national levels.

“The priorities are mostly around revenue mobilisation so that we can generate enough revenue to meet the increasing demand of the public on the treasury,” he said.

He also stressed the need to ensure efficient use of government resources, noting that every naira generated should deliver maximum value for citizens.

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

Oyedele 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 will give my very best at every point in time,” he said.

President Tinubu, during the swearing-in ceremony, commended Oyedele for his role in overhauling Nigeria’s tax framework, describing the previous system as “obsolete and archaic.”

“You have rewritten the entire tax policy of this country that was obsolete, archaic and fundamentally against every progressive thinker,” the President said.

Tinubu, however, acknowledged that the new minister faces a challenging task as the country works to sustain economic stability while pursuing stronger growth.

Oyedele, a 50-year-old tax expert, previously chaired the Presidential Committee on Fiscal Policy and Tax Reforms, which led the overhaul of Nigeria’s tax system.

The reforms consolidated more than 60 taxes into fewer than 10 major tax statutes, introduced zero income tax for Nigerians earning ₦800,000 or less annually, and exempted small businesses with a turnover below ₦100 million from company income tax.

He replaces Doris Uzoka-Anite, who has been redeployed as Minister of State for Budget and National Planning.