Inside the shake-up: How power struggles, policy conflicts led to Edun’s exit

Fresh details have emerged on the circumstances that led to the eventual removal of former Finance Minister, Wale Edun, revealing months of internal tensions, shifting responsibilities, and a gradual loss of confidence from President Bola Tinubu.

According to insider accounts, the president had initially asked Edun to step down as far back as October last year, advising him to “leave honourably.” However, the former minister reportedly lobbied to retain his position, managing to stay on despite what sources described as a clear signal of diminished trust.

“Although he stayed back, the president told his aides: ‘As far as I am concerned, I have done send-off for Wale already,’” a source disclosed.

Following that episode, Edun’s influence within the finance ministry was significantly reduced. Key responsibilities—including revenue generation, revenue distribution, and domestic debt management—were reassigned to the junior minister, Doris Uzoka-Anite.

This shift effectively sidelined Edun from critical processes such as the monthly Federation Account Allocation Committee (FAAC) meetings. Notably, a January FAAC meeting chaired by Uzoka-Anite ended without a communique for the first time, highlighting emerging administrative challenges.

Amid concerns about performance, the president later appointed tax expert Taiwo Oyedele as the new junior minister, redeploying Uzoka-Anite to the Ministry of Budget and Economic Planning. Despite these adjustments, Edun’s position remained precarious.

Sources revealed that plans to replace him had been underway weeks before his eventual removal, with names such as Zacchaeus Adedeji and Joseph Tegbe considered as possible successors. Although some presidential aides initially pushed to retain Edun, their efforts ultimately failed.

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A major factor in his decline was said to be disagreements over fiscal priorities. Edun consistently maintained that limited government revenues had to be directed toward debt servicing, salaries, and pensions, leaving little for capital projects. At one point, debt servicing reportedly consumed up to 95 percent of federal revenue, reflecting the strain on public finances.

This approach drew criticism from ministries, departments, and agencies (MDAs), many of which complained about inadequate funding for capital projects. Contractors, owed large sums, staged protests in Abuja, with some even organizing symbolic demonstrations against the finance ministry.

The situation drew legislative scrutiny, with the National Assembly threatening sanctions over delayed payments.

Tensions escalated further over the funding of major infrastructure projects, including the Lagos-Calabar coastal road and the Sokoto-Badagry super highway, both handled by Hitech Construction Nigeria Ltd, a company linked to businessman Gilbert Chagoury. Insiders said Edun’s reluctance to release funds for these projects—citing fiscal constraints—did not sit well with key figures in the administration.

Additional friction reportedly arose after Edun publicly contradicted the president’s claims on revenue performance.

While Tinubu had earlier stated that revenue targets were met by August 2025, Edun later told lawmakers that projected revenue of N40.8 trillion might fall drastically short, potentially ending the year at about N10.7 trillion. The contradiction was said to have displeased the president.

There were also reports of strained personal interactions, including an instance where Edun allegedly challenged the president during a cabinet meeting—an action insiders described as ill-timed given his already weakened standing.

Health-related controversies added another layer to the situation. In October 2025, reports circulated that Edun was seriously ill and had traveled abroad for treatment, prompting speculation about his replacement. Although the presidency confirmed he was “indisposed,” he was later seen attending events in London and subsequently resumed public engagements in Abuja, raising questions about the earlier claims.

Edun’s relationship with Tinubu dates back decades. In 1999, he was appointed Commissioner for Finance in Lagos State under Tinubu’s governorship, a role he held until his resignation in 2004 on health grounds.

Ultimately, insiders say a combination of policy disagreements, political dynamics, and eroding trust culminated in his exit, marking the end of a tenure shaped as much by economic challenges as by internal power struggles within the administration.