Business
FG Launches GroundBreaking Bisonfly Project To Drive Cost Savings Across Federal Air Travels

In its avowed commitment to ensuring cost savings across all air travels, the Federal Government has launched the BisonFly Project to optimize air travel costs for the Federal Civil Service through a structured, optimized, and technology-driven discount program.
Inaugurating the Project team in his office in Abuja today, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, stated that the BisonFly Project is a strategic initiative designed by the Federal Ministry of Finance to reduce the cost of air travel across the Ministries, Departments, and Agencies (MDAs) of the Federal Government through a centralized, technology-enabled system.
The system will integrate digital booking tools and centralized platforms, ensuring transparency and efficiency in official travel arrangements. It is expected to go live in the coming months.
The Minister emphasized the importance of institutional reform in achieving sustainable cost savings: *Project BisonFly directly supports our commitment to prudent financial management. By coordinating travel and securing discounted rates, we are using the government’s collective bargaining power to cut expenditure and improve service delivery, just as global institutions like the World Bank have done successfully,* Edun said
Speaking earlier, the Permanent Secretary, Special Duties, Federal Ministry of Finance, Mr. Raymond Omenka Omachi commended the Minister’s leadership and vision, calling the initiative a model for fiscal responsibility across the public service and beyond.
Project BisonFly was developed by the Ministry’s Efficiency Unit in collaboration with ICT advisers and key stakeholders and will be overseen by a dedicated implementation team to ensure timely rollout and measurable results.
The Honourable Minister charged the implementation team to ensure the full realization of this important policy initiative of government, underscoring the urgency and significance of delivering on its mandate.
The BisonFly Project aligns with the Federal Government’s commitment to fiscal responsibility and public sector reform, supporting the government’s broader goals of enhancing efficiency and accountability in public sector operations.
It represents a significant step towards achieving fiscal discipline and improving public sector efficiency in Nigeria. With its innovative approach to cost savings and transparency, the project is poised to make a positive impact on government operations and set a precedent for other initiatives.
Business
Edun Champions Nigeria’s Fiscal Reset At The UN Finance Summit

In a bid to drive economic growth and development, the Honourable Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun has today emphasized the need for fiscal reform and international cooperation when he delivered the country’s statement at the 4th International Conference on Financing for Development (FFD4), holding in Sevilla, Spain.
Speaking at a high-level roundtable on domestic public resource mobilisation, HM Edun called for a rebalancing of global finance to better reflect the realities of developing economies. He highlighted Nigeria’s reforms to improve tax administration, drive fiscal discipline, and create an enabling environment for private sector investment.
*In today’s evolving global landscape, self-reliance is essential. We are prioritising digital infrastructure, transparency, and institutional reform to deliver more for Nigerians with every naira spent,* the Minister noted.
He also stressed the urgent need for stronger international collaboration on tax fairness and illicit financial flows, areas where African economies continue to face systemic disadvantage.
The event brought together senior officials from the United Nations, OECD, EU, and development banks, alongside finance ministers from countries including Nepal, Malawi, and Uruguay.
As the Nigerian government continues to drive economic reforms, HM Edun’s message at the UN Finance Summit underscores the country’s commitment to achieving sustainable economic growth and development for the benefit of all Nigerians
Business
Nigeria Emerges As Pan -African Trade Powerhouse As Edun Charts Path To Economic Dominace At Afreximbank Meetings

The 32nd Annual Meetings of the African Export-Import Bank (Afreximbank) provided a platform for Nigeria to showcase its economic prowess, with the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, highlighting the country’s emergence as a regional hub for trade, development finance, and industrial growth.
Speaking during a high-level session of delegates from across Africa and the diaspora at the Annual Meetings in Abuja on Friday, the Minister underscored Nigeria’s partnership with Afreximbank as a model for effective collaboration between governments and development finance institutions. *We are not just participating in a summit. We are advancing a shared vision for Africa’s prosperity, with Nigeria playing a leading role in its delivery,* Edun said.
He highlighted further that Nigeria has secured over $52 billion in Afreximbank financing, with targeted interventions across energy, infrastructure, healthcare, and SME development, including the Africa Trade Centre in Abuja, the African Medical Centre of Excellence, and the proposed Africa Energy Bank, with $5 billion in capital, to be headquartered in Abuja.
The Minister also pointed to Nigeria’s recent formal adoption of the Pan-African Payment and Settlement System (PAPSS), calling it a game-changer for intra-African trade and financial independence. *With PAPSS, Nigerian businesses can settle cross-border transactions in local currencies, reducing foreign exchange pressures and creating a more stable trade environment,* he stated.
HM Edun applauded the innovative leadership of Afreximbank President Prof. Benedict Oramah and urged the Nigerian private sector to leverage the full suite of Afreximbank instruments, including FEDA, AQAC, and CANEX, to expand market access and scale impact. *The enabling institutions are in place. The infrastructure is growing. Now is the moment for Nigeria’s entrepreneurs and investors to go bigger, bolder, and regional,* he added.
The 32nd Afreximbank Annual Meetings convened top public and private sector leaders to advance dialogue on trade integration, financing solutions, and industrial growth across Africa.
As the African economy continues to evolve, Nigeria’s emergence as a pan-African trade powerhouse positions the country for sustained growth, investment, and prosperity. With strategic partnerships and innovative solutions, Nigeria is poised to play a leading role in shaping the continent’s economic future.
Business
Nigeria, Rwanda Sign Double Taxation Treaty To Unlock Cross-Border Investment

On the sidelines of the 32nd Afreximbank Annual Meetings, holding in Abuja, Nigeria, the Federal Republic of Nigeria and the Republic of Rwanda today signed a landmark Agreement on the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income, reinforcing their shared commitment to deepening economic cooperation and facilitating private sector-led growth across Africa.
The high-level signing ceremony, held in Abuja, was presided over by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, alongside his Rwandan counterpart, Yusuf Murangwa, Minister of Finance and Economic Planning.
HM Edun hailed the agreement as a strategic milestone following the recent passage of four landmark tax reform bills in Nigeria. *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,* he stated. Edun added that the agreement *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.
Rwanda’s Finance Minister, Yusuf Murangwa, echoed the sentiment of partnership and long-term ambition: *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.*
Both ministers acknowledged the dedication of their technical teams, whose professionalism and foresight shaped the framework for this outcome. The agreement not only cements bilateral tax cooperation but also opens the door for enhanced trade, technology collaboration, and capital flows, laying the foundation for a more resilient, integrated African economy.
As Africa continues to evolve, partnerships like this pave the way for a brighter economic future, fostering growth, investment, and prosperity across the continent.
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