Nigeria and Rwanda have signed a landmark Double Taxation Treaty to promote cross-border investment and economic integration, announced during the Afreximbank Annual Meetings in Abuja. The Agreement on the Avoidance of Double Taxation and Prevention of Fiscal Evasion aims to enhance private sector growth and strengthen ties under the African Continental Free Trade Area (AfCFTA).
The signing ceremony, led 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, marked a pivotal step in bilateral cooperation. The treaty ensures tax certainty, prevents double taxation, and aligns both nations with global tax standards, fostering transparency and combating fiscal evasion.
“This agreement is a game-changer for cross-border investment,” Edun said. “It supports Nigeria’s tax reform agenda, unlocks private sector capital, and positions us as a competitive investment hub within AfCFTA.”
The treaty is expected to boost investor confidence in key sectors like technology, finance, agriculture, and logistics, simplifying tax administration and reducing loopholes. Murangwa emphasized its broader impact, stating, “This partnership strengthens Nigeria-Rwanda ties and sets a model for a unified, investor-friendly Africa, driving shared prosperity.”
The agreement, shaped by dedicated technical teams, lays the groundwork for enhanced trade, technology collaboration, and capital flows. Both ministers hailed it as a catalyst for a resilient, integrated African economy, reinforcing Nigeria and Rwanda’s commitment to inclusive growth and regional cooperation.
