President Bola Ahmed Tinubu has approved a major restructuring of Nigeria’s Ministry of Finance, transferring critical revenue and debt management responsibilities from Finance Minister Wale Edun to the Minister of State for Finance, Dr Doris Uzoka-Anite, according to sources familiar with the directive.
The reassignment significantly expands Uzoka-Anite’s portfolio to include oversight of domestic financial operations, with specific responsibility for revenue generation, revenue distribution, and all domestic debt management activities.
Under the new arrangement, the Minister of State will now oversee several key departments and agencies previously under Edun’s purview. These include the Home Finance, Technical Services, and Cash Management divisions, as well as the crucial revenue-sharing functions among the tiers of government and the Federation Account.
The directive also places the Nigerian Customs Service and Development Finance under Uzoka-Anite’s supervision, marking one of the most substantial reallocations of ministerial duties since the current administration took office.
The move comes as Nigeria grapples with revenue challenges and seeks to optimise its fiscal management structure. The government has yet to issue an official statement explaining the rationale behind the restructuring or how responsibilities will be divided between the two finance officials going forward.
Edun, who serves as the Coordinating Minister of the Economy, is expected to retain other aspects of his broad economic coordination mandate, although the specific delineation of his remaining responsibilities has not been clarified.
Neither the Ministry of Finance nor the Presidency had provided official comment on the development at the time of this report.
