Coalition backs finance minister’s reforms, urges patience over debt settlement

A coalition in Nigeria has endorsed the finance minister's economic reforms while calling for patience on debt settlement processes.

The coalition's support comes amid ongoing economic challenges in the country. They emphasize the importance of the reforms introduced by the finance minister to stabilize the economy. Regarding debt settlement, the group urges stakeholders to remain patient as negotiations proceed. This endorsement highlights a push for sustained policy implementation without rushed decisions on fiscal matters. The statement reflects broader calls for unity in addressing national financial issues.

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President Tinubu and tax reform chairman discuss Nigeria's 2026 tax reforms easing burdens and boosting growth.
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Nigeria insists on tax reform implementation from January 2026

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The Federal Government of Nigeria has reaffirmed its commitment to implementing key tax reform laws starting January 1, 2026, despite ongoing procedural reviews by the National Assembly. Taiwo Oyedele, chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, stated that preparations are on track following a briefing with President Bola Tinubu. The reforms aim to ease the tax burden on most Nigerians while promoting economic growth.

Nigeria's Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has expressed the federal government's commitment to decreasing its dependence on borrowing.

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A group has come out in support of President Bola Tinubu’s economic reforms, accusing the opposition of spreading misinformation about their impact.

Egypt is seeking to align international development support with state fiscal reform priorities to maximise the effectiveness of technical and financial aid, Deputy Finance Minister for Fiscal Policy Yasser Sobhi said on Saturday. Speaking at the third annual meeting of the Public Financial Management coordination committee, Sobhi stated that the ministry is committed to completing its management development path by deepening cooperation with international partners. This coordination aims to support the implementation of reform efforts, stimulate economic growth, and improve the efficiency of public services and social protection programmes.

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Ethiopia will not implement its $1 billion Eurobond debt restructuring agreement reached with private bondholders earlier this month, the Ministry of Finance announced. The Official Creditor Committee (OCC) has rejected the deal, stating it violates principles of fair burden-sharing among creditors. This decision prioritizes consistency with official debt relief terms to safeguard macroeconomic stability.

Following last week's announcement of plans for an economic emergency decree, Interior Minister Armando Benedetti confirmed its signing by all cabinet members on December 18 and filing the next day. The measure addresses a 16.3 trillion peso shortfall in the 2026 budget after tax reform's failure, targeting high-income sectors to secure public debt payments and avoid rising country risk.

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Building on recent announcements at investor forums, Egypt's Investment Minister Hassan El-Khatib told a Moody's Ratings delegation that the country aims to double annual foreign direct investment to $24 billion through structural reforms in economic, monetary, and fiscal policies.

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Experts call for pause on Nigeria's controversial tax law

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Ethiopia reaches deal to restructure 2024 eurobond notes

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Ethnic youth leaders hail court approval of new tax regime

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2026: Questioning Renewed Hope for Nigerians

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Nigerians express hopes for a quieter 2026

Jumanne, 23. Mwezi wa kumi na mbili 2025, 09:43:33

Oyedele urges sub-national tax transformation for economic growth

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Opposition demands suspension of new tax regime

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Tinubu forms 7-man committee for N4trn contractors' debt

 

 

 

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