Nigeria, Rwanda Sign Landmark Tax Treaty to Boost Cross-Border Investment
In a strategic move to deepen economic ties and encourage private sector-led growth across the continent, Nigeria and Rwanda on Thursday signed a landmark agreement to eliminate double taxation and prevent fiscal evasion.
The agreement was formalized on the sidelines of the ongoing 32nd Afreximbank Annual Meetings in Abuja, where both countries pledged stronger cooperation in tax administration and investment facilitation.
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The signing ceremony was presided over by Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and Rwanda’s Minister of Finance and Economic Planning, Mr. Yusuf Murangwa.
Speaking at the event, Mr. Edun described the agreement as a “strategic milestone,” especially following Nigeria’s recent passage of four key tax reform bills aimed at improving the business environment.
“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.
He further noted that the treaty aligns with Nigeria’s broader economic objectives, including unlocking private capital, boosting intra-African trade, and strengthening Nigeria’s competitiveness under the African Continental Free Trade Area (AfCFTA).
The agreement is expected to simplify tax procedures, enhance transparency, and bring both countries closer to global standards in fiscal policy. It also seeks to protect taxpayers, curb tax loopholes, and fight fiscal abuse, thereby increasing investor confidence in sectors such as technology, finance, agriculture, and logistics.
Rwanda’s Minister, Mr. Murangwa, hailed the agreement as a reflection of the enduring partnership between both nations.
“This agreement is a testament to the strong partnership between Rwanda and Nigeria, and a critical step in creating a unified, investor-friendly Africa,” he stated. “We believe this will serve as a model for deeper regional integration and shared prosperity.”
Both ministers acknowledged the contributions of their technical teams, whose expertise was instrumental in crafting the framework for the treaty. Beyond tax matters, the pact lays a foundation for enhanced trade, capital flows, and technological collaboration between the two countries.
As Africa advances its integration agenda, the Nigeria-Rwanda tax treaty stands as a significant step toward building a resilient, investor-friendly continental economy.
By PRNigeria
