Trojan News :: Real Time News


Nigeria Secures $7bn Foreign Direct investment To Boost Oil Sector – Edun

THE Minister of Finance, Wale Edun, has said that Nigeria secured a $7 billion Foreign direct investment to boost the country’s oil and gas sector.

Edun disclosed this on Sunday, during an interview with Channels Television.


“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 is an e-community and trade facilitation platform that will revolutionize what goes on at the ports,” he said.

Meanwhile, in the last year, several multinationals include Kimberly-Clark, Procter and Gamble (P&G), GlaxoSmithKline (GSK), Unilever, Sanofi-Aventi Nigeria, manufactures of Huggies and Kotex brands of diapers, Kimberly-Clark, announced exit from Nigeria over harsh economic realities.

However, Edun has explained that Multinationals exiting Nigeria do not have a liquid foreign exchange market.

About The Author