The Nigerian Senate has confirmed the appointment of Taiwo Oyedele as a minister of the Federal Republic of Nigeria.
Lawmakers approved the nomination after his screening at the Committee of the Whole.
During the screening, Oyedele addressed questions on Nigeria’s economic challenges.
He said the country must diversify the economy and reduce dependence on narrow revenue sources.
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According to him, increasing revenue alone will not solve the problem.
He stressed that government must also prioritise effective funding to drive productivity and economic growth.
Oyedele noted that strategic planning is important in managing economic pressures.
He said Nigeria must adopt policies that can withstand both domestic and global economic challenges.
He added that careful fiscal management would help prevent economic setbacks.
Before his nomination, Oyedele served as Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms.
The committee played a key role in developing four major tax reform laws.
