Nigeria and the Hong Kong Special Administrative Region of the People’s Republic of China have signed an agreement to eliminate double taxation and prevent tax evasion, in a move aimed at strengthening trade and boosting investor confidence.
The agreement was signed virtually on Monday by Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy, on behalf of Nigeria, and Christopher Hui, Secretary for Financial Services and the Treasury, on behalf of Hong Kong.
According to a statement by the Ministry of Finance, the agreement will eliminate the double taxation of income earned across both jurisdictions, prevent tax evasion and avoidance, and provide greater certainty for businesses and investors operating between Nigeria and Hong Kong.
“It forms part of Nigeria’s broader strategy of expanding its network of tax treaties to support trade, attract investment, and strengthen international tax cooperation,” the ministry said.
Speaking during the ceremony, Oyedele described the agreement as a major milestone in the growing economic and commercial relationship between Nigeria and Hong Kong.
He said the agreement reflects Nigeria’s commitment to building a transparent, predictable and investor-friendly tax environment that supports trade, investment and sustainable economic growth.
The minister said although the signing ceremony was held virtually, it underscored the shared commitment of both jurisdictions to strengthening economic cooperation and creating a more conducive environment for cross-border trade and investment.
Oyedele said the agreement comes at a critical time as Nigeria seeks to deepen its integration into global value chains and expand economic partnerships across Asia.
He described Hong Kong as a leading international financial and commercial hub and expressed confidence that the treaty would encourage stronger private sector engagement and create new opportunities for mutually beneficial partnerships.
The minister also commended the negotiating teams from both sides for producing what he described as a balanced and forward-looking agreement that aligns with international best practices while protecting the legitimate interests of both jurisdictions.
Oyedele expressed appreciation to the government of the Hong Kong Special Administrative Region and all stakeholders who contributed to the successful conclusion of the agreement
