FEC Approves Trade Agreements Between Nigeria, Singapore
The Federal Executive Council (FEC), has approved an agreement for the avoidance of double taxation and the prevention of evasion of taxes on income and capital benefits, between Nigeria and Singapore. Also on Wednesday, the FEC approved bilateral air service agreement with the State of Qatar and Singapore. The Minister Of Finance, Mrs Kemi Adeosun, told State House Correspondents at the 22nd FEC meeting, that the agreement is aimed at encouraging “more direct foreign investments into Nigeria. Furthermore, it is aimed at “letting investors know what their tax obligations will be and ensuring sustainable tax regime for each country.” According to her, the agreement was because Singapore is a major trading partner with Nigeria. Also in attendance were Information and Culture Minister, Lai Mohammed and the Minister of State for Aviation, Hadi Sirika. The agreement seems to be an indication that Singapore’s rejection of clemency appeal by a Nigerian man a...