Nigeria and Rwanda have signed a Double Taxation Treaty on the sidelines of AfreximBank Annual Meetings.
The treaty will spur cross-border investment and economic according to the Federal Ministry of Finance in a tweet on X.
Both countries sealed the deal on Friday at the sidelines of the AfreximBank Annual Meeting in Abuja.
The agreement is dubbed, ‘Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income’.
Signatories to the agreement are the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, Rwandan counterpart, Minister of Finance and Economic Planning, Yusuf Murangwa.
Edun said, “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.
“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.
Murangwa said, “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.”