The Presidency has confirmed that Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, is currently ill and unable to perform his official duties.
In a brief statement issued on Sunday by Bayo Onanuga, Special Adviser to the President on Information and Strategy, the Presidency described the minister as “indisposed,” confirming that he would not attend the upcoming World Bank and International Monetary Fund (IMF) Annual Meetings scheduled to begin this week in Washington, D.C.
According to the statement, Central Bank of Nigeria (CBN) Governor Olayemi Cardoso will now lead Nigeria’s delegation to the meetings in his capacity as alternate governor, alongside Minister of State for Finance Doris Uzoka-Anite and other senior officials from the Ministry of Finance.
The clarification followed growing speculation over Edun’s health after reports emerged that the finance chief had taken ill in recent days. While the Presidency did not provide details of his medical condition, sources within government confirmed that the minister has been receiving medical attention and will be unable to attend to official engagements for the time being.
A senior government official who spoke on condition of anonymity said Edun’s indisposition has temporarily slowed some policy activities within the Ministry of Finance but emphasized that key fiscal coordination functions are being managed by senior officials under the supervision of the Minister of State for Finance.
President Bola Ahmed Tinubu, who appointed Edun as Finance Minister and Coordinating Minister of the Economy in August 2023, is said to be closely monitoring developments and has directed that all essential fiscal and economic tasks continue without disruption.
The President reportedly maintains regular communication with the team overseeing the ministry’s operations to ensure policy stability during the period.
The development comes at a sensitive time for the Tinubu administration, which is implementing a series of fiscal and foreign exchange reforms aimed at restoring investor confidence, stabilising the naira, and expanding revenue generation.
Edun has been a central figure in the government’s economic strategy, coordinating fiscal planning, budget preparation, and reform alignment with the CBN and other financial institutions.
Analysts note that the finance minister’s absence, though temporary, could test the coordination of ongoing fiscal programs, including debt management, foreign exchange reforms, and 2025 budget preparations.
However, they also point out that the presence of experienced technocrats such as Cardoso and Uzoka-Anite ensures some level of continuity within the economic management framework.
Wale Edun, a long-time associate of President Tinubu, previously served as Commissioner for Finance in Lagos State between 1999 and 2004 and has decades of experience in banking, capital markets, and public finance. Since assuming his current role, he has led major fiscal policy initiatives, including subsidy reforms, public expenditure rationalisation, and renewed engagement with international development partners.
While uncertainty surrounds the timeline for his full recovery, senior officials have expressed optimism that the minister is receiving the best possible medical care and that his duties will remain effectively managed during his absence.
As Nigeria’s delegation departs for Washington this week, the government is expected to continue discussions with global lenders on debt sustainability, economic reforms, and investment frameworks for developing economies.
The Ministry of Finance has not yet issued a formal statement on the minister’s recovery timeline but reiterated that all core economic engagements remain on course.
