The development, along with the dismissal of the Minister of Housing and Urban Development, Ahmed Musa Dangiwa, was confirmed in a memo issued by the Secretary to the Government of the Federation, Senator George Akume.

According to the directive, Edun was instructed to hand over duties to Oyedele, while Dangiwa was directed to transfer responsibilities to Muttaqha Rabe Darma, who has been named minister-designate.

The Presidency did not provide specific reasons for the changes but stated that the cabinet reshuffle falls within the President’s constitutional powers as outlined in Sections 147 and 148 of the 1999 Constitution (as amended).

During his tenure, Edun played a key role in driving Tinubu’s “Renewed Hope” economic agenda, which included the removal of fuel subsidy, foreign exchange reforms, and other fiscal and monetary policies. He had previously credited these reforms with contributing to economic growth of 4.07 percent in Q4 2025, up from 2 percent in 2023, while inflation reportedly declined to 15 percent from 22.04 percent.

Despite these improvements on paper, many Nigerians continue to face high living costs, particularly in food, transport, and essential goods.

His exit comes shortly after the International Monetary Fund revised Nigeria’s growth outlook downward to 4.1 percent from 4.3 percent, citing global economic pressures linked to geopolitical tensions in the Middle East.

Edun had recently returned from the World Bank/IMF Spring Meetings in Washington, where he maintained that Nigeria would not seek an IMF bailout despite external challenges, assuring continuity in domestic economic policies.

However, his sudden removal has raised concerns among investors and market observers.

Following the announcement, the naira weakened slightly, closing at N1,350.74 to the dollar, while the Nigerian Exchange Limited recorded an N88 billion gain, though this was lower than the previous day’s N609 billion increase.

Speaking on the development, Professor of Accounting and Finance at Lead City University, Godwin Oyedokun, said the situation should be assessed from both strategic and economic stability perspectives.

He noted that cabinet changes can reflect a government’s effort to reassess its policy direction and strengthen economic management, but warned that poorly communicated or abrupt decisions could create uncertainty.

According to him, investors are less concerned about individual officeholders and more focused on policy consistency, predictability, and institutional strength.

Oyedokun urged the government to ensure transparency and stability in economic communication going forward, stressing that these factors would determine investor confidence in the wake of the reshuffle.

The operation was conducted on the evening of Tuesday, April 21, 2026, at about 7:49 p.m. in the Marit general area near Doruwa Babuje, following credible intelligence on the movement of suspected criminal elements.

According to a military statement, the suspects were allegedly responsible for terrorising surrounding communities through violent attacks, sexual assault, and armed robbery.

Acting on the intelligence, troops set up an ambush and engaged the armed men in a gun duel. Two of the suspects were killed during the exchange, while others escaped into nearby bushes under the cover of darkness.

Following the operation, a search of the area led to the recovery of a locally fabricated rifle, five rounds of 7.62x39mm ammunition, a cutlass, a jackknife, and a mobile phone.

Security forces have since maintained a strong presence in Marit and Lajam villages to ensure the protection of residents, while efforts are ongoing to track and apprehend the fleeing suspects.

The statement added that troops remain deployed in the affected areas as part of sustained operations aimed at restoring peace and preventing further attacks.

The military also reaffirmed its commitment to safeguarding lives and property, urging residents to stay vigilant and promptly report any suspicious activities to security agencies.

The details were contained in an election timetable released to journalists on Wednesday by the faction’s National Organising Secretary, Umar Bature.

According to the schedule, the faction is set to submit its membership register to the Independent National Electoral Commission (INEC) on April 21, 2026, and formally notify the commission of its primary election timetable a day later.

The document shows that the expression of interest form for all aspirants is pegged at N1 million, while nomination fees vary depending on the office being contested. Aspirants for State Houses of Assembly will pay N2 million, House of Representatives N3 million, Senate N5 million, governorship N20 million, and presidential aspirants N50 million.

Sales of forms are scheduled to begin on April 27 and close on May 4, while submission of completed forms will end on May 9.

Screening for State Assembly, National Assembly, and governorship candidates will hold on May 11, while presidential aspirants are billed for screening on May 12.

The presidential primary is slated for May 18, governorship primaries for May 27, House of Representatives primaries for May 21, Senate primaries for May 23, and State Assembly primaries between May 21 and May 24.

All appeal processes are expected to be concluded by May 30, 2026.

Bature also noted that female aspirants will only be required to pay the expression of interest fee for their respective positions.

The PDP remains deeply divided into rival factions, one led by Kabiru Turaki and backed by Governors Seyi Makinde and Bala Mohammed, and another led by Abdulrahman Mohammed, supported by Nyesom Wike. The internal crisis has resulted in multiple court cases, with the Supreme Court expected to announce a date for judgment after reserving its ruling.