From Isaac Anumihe, Abuja
Nigeria and the Republic of Rwanda on Friday signed a landmark agreement on the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income, reinforcing their shared commitment to deepening economic cooperation and facilitating private sector-led growth across Africa.
The high-level signing ceremony, which took place on the sidelines of the 32nd Afreximbank Annual Meetings, holding in Abuja, Nigeria, was presided over by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, alongside his Rwandan counterpart, Yusuf Murangwa, Minister of Finance and Economic Planning. 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 stated.
Edun added that the agreement supports the 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, Edun said, simplifies tax administration, improves transparency, and aligns Nigeria with global standards, ensuring that both governments can protect taxpayers, reduce loopholes, and combat fiscal abuse.
In his remarks, Rwanda’s Finance Minister, Murangwa, echoed the sentiment of partnership and long-term ambition:
In a statement, 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.
“As Africa continues to evolve, partnerships like this pave the way for a brighter economic future, fostering growth, investment, and prosperity across the continent,” the statement emphasised.