Fiscal Policy
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The International Monetary Fund (IMF) has commended President Bola Tinubu’s tax reform bills, describing them as a significant step towards boosting revenue mobilisation and creating fiscal space for development spending while maintaining debt sustainability.
As a fallback plan, Pretoria is willing to accept a maximum tariff of 10% if exemptions are not granted, its trade ministry revealed.
Nigeria has introduced tax reforms that scrap three key taxes for small businesses but tripled the capital gains tax (CGT) rate for corporations.
Nigeria has taken a bold step toward overhauling its tax system. So, what exactly has changed—and what does it mean for employees, companies and investors?
President Bola Tinubu has signed into law four tax reform bills that are set to transform Nigeria’s fiscal and revenue framework. The four bills, the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill, were passed on Thursday after extensive consultations with various…
While the deal marks a major step towards stabilising the economy, the West African country still faces a tough road ahead as it seeks to persuade private lenders to rework their share of the debt.
The sharp rise in debt costs coincides with a 71.5% drop in external grant in Q1 2025, reflecting growing difficulties in attracting budget support from international partners.
Fitch has raised Ghana’s credit rating to “B-” from default, citing progress in debt restructuring, easing inflation, and external account surpluses.
The trade deal with Ghana comes just a day after China announced plans to remove tariffs for all 53 African countries with which it has diplomatic ties—excluding Eswatini because of to its support for Taiwan
The $7.3 billion tax revenue target comes amid plans by the Ethiopian government to introduce a series of new tax measures including a 15% VAT, a 15% excise duty on fuel and a higher circulation tax on vehicles.
Glaring discrepancies in official fiscal data are fuelling fresh doubts about the true scale of Nigeria’s financial woes.
Despite Ethiopia’s budget nominal rise, the budget’s value in US dollars has declined by 30% due to the Birr’s depreciation.
While the IMF praised the West African nation for its efforts to improve tax compliance and reduce reliance on external financing, it noted that these initiatives will have no impact on the ongoing misreporting case that led to the suspension of disbursements.
The African nation has held a sub-investment grade ‘BB-/B’ foreign currency rating since 2020, following years of slow growth, mounting debt, and large-scale bailouts for state-owned enterprises.
In addition to the renewed warrant, the special prosecutor has begun the process of issuing an Interpol red alert for the former minister’s arrest and extradition to Ghana.
FIRS and RMAFC have formed a joint committee to enhance tax revenue monitoring, marking a strategic move toward fiscal transparency and reducing Nigeria’s reliance on volatile oil income
The Mozambican government expects to collect 500 million meticais ( about $7.5 million) in taxes from casinos and gambling activities in 2025.
According to the multilateral lender, Nigeria’s 2024 economic growth was the strongest since 2014, driven by robust fourth-quarter momentum and an improved fiscal position.
Despite the expansion, the fiscal gap falls within the National Treasury’s target of 4.5 percent of GDP—an improvement from the deficits recorded in 2023/24 and 2024/25, which stood at 5.3 percent and 5.1 percent of GDP respectively.
Africa tackles tax evasion in the ride-hailing sector with new policies, balancing growth, innovation, and fair contributions to the economy.