The Presidency has clarifed that the former Coordinating Minister of the Economy and Minister of Finance, Mr. Wale Edun, officially resigned from his position citing health reasons.

His departure preceded President Bola Ahmed Tinubu’s announcement of a cabinet replacement on Tuesday.

Alongside Edun, the Minister of Housing and Urban Development, Ahmed Musa Dangiwa, also stepped down from his role, expressing gratitude to the President for the opportunity to serve within the Federal Executive Council.

According to a statement by Bayo Onanuga, Spokesperson to the President, Mr. Edun, who reached the age of 70 on Monday, had been managing recent health challenges and chose his milestone birthday to submit his formal resignation. The statement noted that Edun in his resignation letter described his tenure as a pleasure and privilege, noting that under the President’s leadership, Nigeria has become more resilient and internationally respected.

“Before the official announcement of his exit by the Office of the Secretary to the Government of the Federation, Edun held a final one-hour valedictory meeting with the President at the Villa before returning to the private sector.”

“The outgoing ministers bring distinguished careers to a close within this administration. Edun, an economist and former World Bank professional, previously served as Finance Commissioner in Lagos State and co-founded what is now Stanbic IBTC.”

“Dangiwa, an architect and former Managing Director of the Federal Mortgage Bank, had served as Housing Minister since August 2023,” the statement read in part.

President Tinubu further expressed his appreciation to the outgoing Ministers for their dedication to the administration’s economic reform agenda and wished them future success.

Following these departures, the President has directed the new Minister of Finance, Taiwo Oyedele, to advance the administration’s fiscal objectives with increased discipline and innovation.

The President is also expected to transmit the nomination of Muttaqha Rabe Darma to the Senate for confirmation as the new Minister of Housing.