The Federal Government has sealed a $7 billion Foreign Direct Investment (FDI) in the oil sector to boost the country’s economy.
Wale Edun, the Minister of Finance and the Coordinating Minister of the Economy, disclosed this while appearing as a guest on Channels Television Politics on Sunday.
He added that the government was investing in port infrastructure to ease trading for investors, and boost the country’s productivity.
“In terms of figures, 7 billion dollars is estimated to come in from the oil sector with another major improvement in the economic environment, the national single window project, which really is an e-community and trade facilitation platform that will totally revolutionize what goes on at the ports,” he said.
“One of the things that we need to do on our own side is that when you’re dealing with private business, you need to have in place double taxation treaties like Investment Promotion and Protection treaties. So we’re tidying up our end in terms of those agreements as far as private investment is concerned,” he said.
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