By Mohammed Bello Doka
In a significant move to bolster economic relations, Lateef Fagbemi, the Attorney-General of the Federation and Minister of Justice, announced the federal government's approval of a groundbreaking taxation deal with the United Arab Emirates (UAE). The decision, unveiled after a Federal Executive Council meeting chaired by President Bola Tinubu, aims to eradicate double taxation hurdles between the two nations.
Fagbemi, addressing state house correspondents, confirmed that the Federal Executive Council has given the green light for the Nigeria-UAE double tax treaty to progress to the national assembly for ratification. The anticipated ratification is expected to fortify economic collaboration by dismantling tax barriers, fostering a more conducive environment for businesses and investors in both Nigeria and the UAE.
This strategic initiative underscores the commitment of both nations to promoting seamless economic interactions and opens new avenues for cross-border investments. As the treaty progresses through the legislative channels, stakeholders are optimistic that it will pave the way for a more robust and mutually beneficial economic partnership between Nigeria and the United Arab Emirates.
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