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.

The Federal Government of Nigeria has finalized plans to issue a N1.23 trillion Power Sector Bond to tackle debts owed to power generation companies and stabilize the electricity market. Finance Minister Wale Edun announced this during an investor forum, highlighting its role in a broader N4 trillion debt resolution program. The initiative aims to restore liquidity and investor confidence in the Nigerian Electricity Supply Industry.

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Ethiopia has reached an agreement in principle with the key bondholders committee to restructure $1 billion in bond debt. This deal aligns with its program with the International Monetary Fund. The agreement supports sustainable debt management.

Ethiopia has reached an agreement in principle with the Ad Hoc Committee of eurobond holders to restructure its 2024 notes. This breakthrough follows more than two years of seeking debt relief and over a year since defaulting on interest payments. The Ministry of Finance announced the deal on Friday.

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Egyptian President Abdel Fattah Al-Sisi affirmed on Wednesday that the government will press ahead with fiscal reforms to safeguard economic stability and accelerate private sector growth, amid regional conflicts impacting markets and global supply chains.

 

 

 

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