For OGUN Governorship In 2027
Right now in Ogun State, the hot gist making the rounds is that Mr. Wale Edun, the current Finance Minister and Coordinating Minister of The Economy since August 2023 is most likely to run for Ogun governorship in 2027.
In the past few months, intense pressure has been mounted on this Egba born finance guru to pick up the challenge and run.
Although the pressure has been on since last year, over the last few months, more and more people have appealed to Wale Edun to makeup his mind and run.
A few days back, a sociopolitical movement known as the Advocates for Ogun Development and Innovations urged the Finance Minister and Coordinating Minister of the Economy, Mr. Wale Edun, to join the race for the governorship of Ogun State.
In a statement issued last Tuesday by its Public Relations Officer, Majeed Adelakun, the group said Edun was uniquely qualified to lead Ogun State at this crucial juncture.
They urged Edun to “answer the call of history” and declare his intention to contest the upcoming gubernatorial election in Ogun State. Beyond his sterling professional pedigree, Mr. Edun is known for his deep commitment to empowering communities, creating sustainable opportunities, and building prosperity that lasts.
“His leadership style is one that focuses on real change, and we believe his vision can elevate Ogun State to new heights,” the group said.
Insiders said months back when Wale Edun was officially approached he was non-committed. He pleaded for time to consult with his boss Pres. Tinubu & Stakeholders in the state. Wale Edun was said to be apprehensive initially because he is not your run of the mill politician. He has always seen himself as a Technocrat-In-Government.
Months after he was ruled out for what some people describe as “lack of interest,” his name is back on the lips of many Ogun APC members as a potential candidate.
Before now it was only one name that has been in the news as a possible successor to Governor Dapo Abiodun, who will leave office in May 2027. The name has been that of Senator Solomon Olamilekan Adeola, popularly called Yayi.
He has been credited with helping Abiodun come to power in both his first and second terms, the Senator representing Ogun West has been unrelenting in his positioning as the next man to take over.
But the renewed touting of Edun as a likely APC candidate for the 2027 Ogun gubernatorial election is a major concern for members of Yayi’s camp.
Edun is one person that can’t be shrugged off. He has strong influence with President (Bola) Tinubu, who has generally been acknowledged as a major determining factor in the process of who takes over from Dapo.
Aside from having a strong connection with President Tinubu, Edun is also from the large voting area of Ogun Central, while Yayi hails primarily from the lower-vote region of Ogun West—although he has recently claimed a maternal link to Ogun Central.
There are those who have started work underground to get him to run for governorship after Gov. Dapo Abiodun’s tenure. They feel Chief Adebayo Olawale Edun has a lot going for him to make a good candidate. They feel that after Ogun East where Abiodun comes up, the governorship will come back to Ogun Central and Wale Edun who is from Abeokuta is eminently qualified for it. They say he will definitely get the support of all those who matter in Ogun State.
According to them, once President Bola Tinubu gives the nod, it won’t be difficult to get the Alake of Egbaland, and the Awujale of Ijebuland to bless Wale Edun’s candidacy.
As you read this, many calculations are going on. Although Ogun West Senator, Olanilekan Solomon Adeola popularly called YAYI, remains a strong force in the race, a Wale Edun Candidacy promises to change a lot of things. What fuelled the political speculation was the recent palliatives he gave Ogun State residents which he says are not politically motivated. The Minister of Finance, Wale Edun debunked speculations that his donations of rice in Ogun State were meant for political reasons, explaining that rather, it was a genuine effort in line with his policy of giving back to the society and provide succour for citizens in view of the economic hardship currently being experienced in the country.
The media team of the Minister gave the explanation in view of speculations trying to paint the gestures in negative way, emphasisng that contrary to this, Edun was interested in the welfare of the people.
The team added that the donations cut across all beneficiaries and has nothing to do with Politics, as being rumoured, to change the authentic concept of the palliative measures, which serves as his own contributions in commemoration of Easter celebration and forthcoming Ramadan festival.
Edun stated that he would not be distracted by the attempt to cook up lies against his genuine desire of giving back to the society, adding that he would continue to support people at appropriate times.
The team emphasized that this is what the Minister is known to have been doing for years, adding that the latest gestures could not be the first, nor would be the last, assuring that he would not relent in efforts in bringing smiles to faces of the people.
Edun recently distributed rice to residents of Ogun State in celebration of the Easter and forthcoming Ramadan festival, which was extended to traditional rulers, religious bodies, and in return the beneficiaries after the receipt expressed appreciation to him
For a very long time, many didn’t know that Wale Edun is an Egba man. He had been seen as a Lagos Boy. But it took his ministerial nomination for many to realise that he is from Abeokuta in Ogun State. He is not only an Economist, he is an Investment Banker. He is a familiar name within the Lagos establishment, particularly during the period Asiwaju Bola Ahmed Tinubu was governor of the state. He was the brilliant technocrat who held sway as the Finance Commissioner of the Bola Tinubu govt. Wale Edun was exceptionally sound as a finance expert. He, it was, along with the crack team working with the governor at the time, that turned the state’s IGR around from a paltry N600m to about N5b per month.
As the Commissioner for Finance, Wale Edun was pivotal to the phenomenal growth of Lagos state under the watch of the President-elect, Bola Ahmed Tinubu, as governor of Lagos state from 1999 to 2007. No doubts about it, this gentleman did a fantastic job running the finance ministry of the most populous state in Nigeria. For eight years, he held the finance ministry together and helped the governor prosecute many of its cost intensive projects. This is one of the reasons why his boss, Bola Tinubu, holds him high esteem when it comes to his job as a finance expert. They have remained close even after several years Tinubu left office as Lagos State Governor.
There is no doubt that the President Tinubu has tremendous respect for him. They have a relationship that transcends boss/emplyee relationship. They have become allies. They have become brothers. It was said that twice during the early years of the Buhari administeration, Tinubu recommended Wale Edun for a slot in the federal ministerial cabinet with the possibility of taking charge of the Finance Ministry but for some unclear reasons, the move fell through twice. When Asiwaju Bola Ahmed Tinubu became the President-elect, the coast became clear for the return of one of Nigeria’s brightest brains in Banking and finance.
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To say that Wale Edun has the ears of the President-elect is like stating the very obvious. He is one of those closest to Asiwaju at the moment. He may not have been very visible during the campaigns leading to the election, but he was always there in the background, behind the scene, giving the incoming president all the necessary support. Little wonder why, these days, once there is a discuss about who succeeds Godwin Emefiele as CBN Governor, the name, Wale Edun, keeps popping up. He appears most favoured by Tinubu to take charge of the Finance Ministry, his experience and incredible expertise will definitely be needed to help the country navigate through it’s murky financial waters. With Wale Edun in charge, Tinubu knows he can go to sleep without worrying about how things are run in the ministry. He knows Wale Edun like he knows the back of his hand, he knows he will deliver one hundred percent and more. Little wonder Tinubu was quick to nominate him as a member of the Presidential Transition Council (PTC).
Edun’s background in economics, public finance, international finance, banking and corporate finance at both national and international levels make a compelling case for his choice as the finance minister.
In an interview not long ago with the Africa Report, Wale Edun provides an insight into some of the policies he may pursue as finance minister.
He showed his strong resistance to the continuation of the petrol subsidy, multiple exchange rates, revenue leakages in the oil and gas sector and inefficient tax waivers. Edun said this would save the country N24 trillion, about the size of Nigeria’s Federal Budget for 2023.
Edun has served as an Economist at the World Bank in the 1980s before taking on a series of senior posts with investment banks in Wall Street, such as Chase Manhattan and the ill-fated Lehman Brothers.
He would later be appointed Commissioner of Finance in 1999 on his return to Nigeria after Tinubu won the governorship of Lagos State as the ruling generals returned to the barracks.
His impressive record of achievements in both the private and public sectors attests to his phenomenal competence and expertise. Inclusive of other academic qualifications and professional affiliations.
Edun holds a Bachelor’s Degree in Economics from the University of London and a Master’s Degree in Economics from the University of Sussex, England.
Edun’s extensive financial industry expertise includes serving as Head of Treasury and Deputy Head of Corporate Finance at Chase Merchant Bank from 1980 to 1986. His duties included Capital Market and Financial Advisory operations for multinational conglomerates and their subsidiaries, as he was in charge of the bank’s Treasury and Money Market activities. He gained foreign experience at Lehman Brothers and Chase Manhattan Capital Markets Corporation on Wall Street in New York, USA, while at Chase.
He co-founded and served as Executive Director of Investment Banking & Trust Company Limited, now Stanbic IBTC Plc, in 1989. Denham Management Limited was established by him in 1994. In addition to serving on the boards of several other businesses, Wale was the Chairman of Chapel Hill Denham Group, a prominent investment bank in Lagos that has received significant recognitions and awards, including Africa’s Best Bank for Advisory in the Euromoney Awards 2016 – 2019. He was also the chairman of The Nation Newspapers.
Edun’s political involvement has basically been that of a staunch democrat who believes in the power of the people. This explains his unwavering dedication to the grassroots and his participation in Philanthropy. Edun is an International Trustee of the Duke of Edinburgh’s International Award Foundation and the Chairman of the Lagos Boxing Hall of Fame, a registered non-profit youth development group that runs amateur boxing in Lagos. He is also the Chairman of the Livewell Initiative, a health sector Non-Governmental Organization (NGO), and a Trustee of Sisters Unite for Children, an NGO that helps children in need.
Edun holds bachelor’s and Master’s degrees in economics from the University of London and the University of Sussex respectively.
From 1980 to 1986, Edun worked at Chase Merchant Bank (later Continental) in Lagos, Nigeria. He joined the World Bank in September 1986 through the elite Young Professionals program, where he worked on economic and financial packages for several countries in Latin America and the Caribbean. In 1989, he co-founded Investment Banking & Trust Company Limited (now Stanbic IBTC) and served as Executive Director. In 1994, he founded Denham Management Limited, which has since become the Chapelhill Denham Group; he has served as chairman there since March 2008.
In 1999, he was appointed Lagos State commissioner of finance by then governor, Bola Tinubu, a position he held until 2004.
He was the Chairman of the Governing council and the board of trustees of the Trust Fund for the Hydrocarbon Pollution Remediation Project (HYPREP) for the implementation of the United Nations Environmental Report (UNEP) on Ogoniland.
On 16 August 2023, President Bola Tinubu appointed him minister of finance and coordinating minister of the economy. He was sworn in on 21 August 2023.
Edun is married to Amy Adwoa Appiah, a daughter of the Ghanaian statesman, Joe Appiah and his British wife Peggy Cripps, who was an author. One of their 3 sons is the British actor Adetomiwa Edun.
Edun is a board member and the Nigerian chair of the Duke of Edinburgh’s International Award Foundation. He is Chairman of Lagos Boxing Hall of Fame, a non-profit youth development organization that runs amateur boxing in Lagos. He is also the Chairman of Livewell Initiative, a health-based NGO.
