Finance Minister Wale Edun Flown To UK For Medical Treatment

Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has reportedly left the country for medical treatment in the United Kingdom after falling ill in recent days.

Multiple presidency and ministry sources confirmed that Edun departed Abuja on Monday night for Lagos before boarding a British Airways flight to London. His trip follows days of speculation over his health, which government officials initially downplayed as a mild condition being managed at his Abuja residence.

Illness Sparks Concern Within Tinubu’s Cabinet

According to senior officials familiar with the matter, Edun’s illness became noticeable last week, prompting closer monitoring by doctors in Nigeria. Presidency aides had denied earlier rumours of a stroke, insisting the minister’s condition was not life-threatening.

However, after consultations with medical experts, it was decided that he should travel abroad for more comprehensive treatment. One official told The PUNCH that “his health situation required more specialised care, which was why he had to leave.”

Presidential aides also confirmed that President Bola Tinubu has been briefed and remains in close contact with his long-time ally. “There are no plans to replace him,” a senior aide reportedly said, adding that Edun remains the substantive head of the finance ministry.

Edun To Miss Global Finance Meetings

With the minister’s absence, Nigeria will be represented at the ongoing World Bank and International Monetary Fund (IMF) Annual Meetings in Washington, D.C., by the Central Bank Governor, Olayemi Cardoso. The sessions, which began on Tuesday, October 14, are expected to focus on global debt challenges, fiscal stability, and monetary policy reforms.

The Presidency had earlier confirmed that Edun would not attend due to his health. In a statement, Presidential Adviser on Information and Strategy, Bayo Onanuga, explained that while the 69-year-old minister had fallen ill, he was initially receiving care locally before the decision to seek treatment abroad.

Before his illness, Edun had been central to the administration’s economic reform agenda, overseeing major policy shifts including the removal of petrol subsidies, the unification of Nigeria’s multiple foreign exchange windows, and the introduction of fiscal measures to stabilise the naira and tackle inflation.

A Key Figure In Tinubu’s Economic Team

Appointed on August 28, 2023, Edun has been one of President Tinubu’s most trusted advisers, both during his years as Lagos State Governor and now at the federal level. He previously served as Lagos Commissioner for Finance from 1999 to 2004 and co-founded Denham Management Limited, an investment banking firm.

Under his leadership, the finance ministry has worked closely with the Central Bank and international partners to restore investor confidence, curb budget deficits, and support the administration’s “Renewed Hope” economic agenda.

His unexpected illness comes at a crucial time for the government, as it faces mounting economic pressures, rising inflation, currency instability, and widespread public discontent over the cost of living.

Otedola Praises Edun’s Economic Reforms During Lagos Meeting

As of press time, the Ministry of Finance had not issued an official statement regarding Edun’s condition or expected return date. However, insiders say the minister remains optimistic and continues to receive updates on fiscal matters from his team while undergoing treatment.

Edun’s absence underscores the growing strain within Nigeria’s economic management team as it navigates one of the most difficult financial periods in recent years.