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FG suspends implementation of expatriate employment levy

FG suspends implementation of expatriate employment levy
FG suspends implementation of expatriate employment levy (Photo: Business day NG)

The recently passed Expatriate Employment Levy, which is being handled by the Nigerian Immigration Service under the Federal Ministry of Interior, has been put on hold by the Federal Government.

This was revealed in a statement released on Friday and signed by Dele Kelvin Oye, National President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture.

According to Oye, the decision was made after President Bola Ahmed Tinubu’s effective trade and investment outreach in Qatar and a fruitful meeting with the ministers of industry, trade, and investment, Doris Aniete, and interior, Olubunmi Tunji-Ojo.

The meeting was also attended by the President of the Petroleum Technology Association, the President of the Special Economic Zones Association, the Director General of the Nigerian Turkiye Business Council, the European Union Trade delegation head, the NACCIMA Chair of Digital Trade Group, and the representatives of the National Association of Small and Medium Scale Enterprises.

The statement read, “The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, in collaboration with key stakeholders, announces a temporary step down of the recently enacted Expatriate Employment Levy by the Federal Ministry of Interior, as administered by the Nigerian Immigration Service.”

Last week, on Tuesday, President Bola Tinubu launched the Expatriate Employment Levy.

However, the introduction of the levy attracted widespread condemnation from private sector groups.

Among other reasons, they said the levy will impact the much-needed Foreign Direct Investment by the current administration to rein in the free fall of the naira.

But announcing the suspension, the NACCIMA president said the policy reversal would allow for further consultations with NACCIMA and other vital stakeholders, adding that a review committee would be constituted.

He added, “It was unanimously agreed that the implementation of the Expatriate Employment Levy will be paused, allowing for further consultations with NACCIMA and other vital stakeholders.

“A joint committee comprising members of the Ministry of Industry, Trade and Investment, the Ministry of Interior, NACCIMA, and other stakeholders will be formed to review the EEL policy.

“The rollout of the EEL, as initially proposed, will be deferred in accordance with the resolutions made.”

According to the statement, Oye further thanked the Federal Government of Nigeria, the Ministry of Industry, Trade and Investment, and the Ministry of Interior for their magnanimity, understanding, and willingness to engage in dialogue and consider the implications of the EEL on the business community.

“This is indicative of their commitment to creating an inviting atmosphere for both local and international investors.

“NACCIMA and its partners remain dedicated to working hand in hand with the government to ensure that policies align with the nation’s economic objectives, aiming to position Nigeria as a prime destination for investments.”

The NACCIMA president further advised investors, both current and prospective, to continue with their business activities and investment plans in Nigeria with confidence, noting that the government is ready to enhance the investment landscape and support economic growth.

“We advise all investors, both current and prospective, to continue with their business activities and investment plans in Nigeria with confidence.

“The assurances provided by both ministers during the negotiations have reinforced the Federal Government of Nigeria’s intent to enhance the investment landscape and support economic growth.

“We thank all stakeholders for their engagement and patience during this period.”

Techrectory with Agency Report

See also Full Speech of President Tinubu’s initial address at UN General Assembly

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Written by Percy Onyeka

A seasoned Tech/Business Analyst, Digital Media Consultant , Publisher and Entrepreneur with more than a decade experience. Online Editor in Chief-New National Star newspaper and a host of clients...

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