The Federal Government and the Republic of Rwanda have signed a landmark Agreement on the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income, reaffirming their shared commitment to deepening economic cooperation and advancing private sector-led growth across Africa.
The high-level signing ceremony, held in Abuja on the sidelines of the Afreximbank Annual Meetings, was presided over by Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, alongside his Rwandan counterpart, Yusuf Murangwa, Minister of Finance and Economic Planning.
Minister Edun hailed the agreement as a strategic milestone following the recent passage of four landmark tax reform bills in Nigeria. “This agreement is a critical tool for promoting cross-border investment, ensuring tax certainty, and eliminating the risk of being taxed twice on the same income,” he said.
“It supports our broader objective of unlocking private sector capital, accelerating intra-African trade, and positioning Nigeria as a competitive destination for investment under the African Continental Free Trade Area (AfCFTA).”
The treaty simplifies tax administration, improves transparency, and aligns Nigeria with global standards, ensuring that both governments can protect taxpayers, reduce loopholes, and combat fiscal abuse. It is expected to bolster confidence among investors operating in both countries, particularly in sectors such as technology, finance, agriculture, and logistics.
Rwanda’s Finance Minister, Yusuf Murangwa, echoed the sentiment of partnership and long-term ambition: “This agreement is a testament to the strong partnership between Rwanda and Nigeria, and a critical step in creating a unified, investor-friendly Africa. We believe this will serve as a model for deeper regional integration and shared prosperity.”
Both ministers acknowledged the dedication of their technical teams, whose professionalism and foresight shaped the framework for this outcome.
The agreement not only cements bilateral tax cooperation but also opens the door for enhanced trade, technology collaboration, and capital flows, laying the foundation for a more resilient, integrated African economy.
President Bola Tinubu has signed into law four tax reform bills on key areas of Nigeria’s fiscal and revenue framework.
Tinubu signed the bills at a ceremony held at the Presidential Villa on Thursday.
The four bills include: the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
They were passed by the National Assembly after months of consultations with various interest groups and stakeholders.