By Ebenezer Mabinuola
In a major step toward strengthening bilateral economic cooperation, Nigeria and Rwanda have signed a landmark treaty aimed at eliminating double taxation and preventing fiscal evasion on income. The agreement was formalized on the sidelines of the 32nd Afreximbank Annual Meetings currently taking place in Abuja.
The signing ceremony was jointly presided over by Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and Rwanda’s Minister of Finance and Economic Planning, Yusuf Murangwa. Both ministers hailed the deal as a strategic milestone in fostering private-sector-led growth, enhancing tax certainty, and promoting cross-border investment.
“This agreement ensures the same income is not taxed twice and strengthens our ability to attract private capital,” Minister Edun said. He noted that the treaty complements Nigeria’s recent passage of four key tax reform bills and supports the country’s broader agenda under the African Continental Free Trade Area (AfCFTA).
Designed to align with global tax standards, the treaty streamlines tax administration, reduces opportunities for tax avoidance, and provides legal clarity for businesses operating in both countries. It is expected to particularly benefit key growth sectors such as technology, agriculture, finance, and logistics.
Rwanda’s Finance Minister, Murangwa, described the pact as a “fiscal tool and symbol of strategic partnership,” adding that it reflects a shared commitment to creating an investor-friendly, integrated African economy.
Both ministers credited their technical teams for the collaborative effort behind the agreement, expressing optimism that the framework will unlock new flows of capital, spur technology transfer, and deepen commercial ties.
The deal comes at a time when African countries are seeking greater economic resilience. As highlighted in the joint statement, such agreements are crucial in building a more interconnected, investment-driven Africa anchored on sustainable prosperity.
