The Federal Government has bowed to pressure and suspended the implementation of the controversial Expatriate Employment Levy, a move initially spearheaded by the Ministry of Interior through the Nigerian Immigration Service.
This decision was revealed in a statement issued by Dele Kelvin Oye, the National President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), on Friday.
The backtrack comes following a pivotal Trade and Investment outreach led by Chief Bola Ahmed Tinubu in Qatar. Subsequently, a constructive dialogue ensued between Tinubu, the Minister of Industry, Trade and Investment – Doris Aniete, and the Minister of Interior – Olubunmi Tunji-Ojo.
Attended by key industry players including the President of the Petroleum Technology Association, the President of the Special Economic Zones Association, and other influential stakeholders, the meeting led to the temporary suspension of the Expatriate Employment Levy.
In the statement, Oye declared, “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.”
READ ALSO: Kaduna State Government Hires Private Negotiator to Secure Release Of 287 Pupils from Terrorists
Just last Tuesday, Chief Bola Tinubu inaugurated the controversial levy, igniting uproar among private sector groups who argued it would hamper Foreign Direct Investment critical to stabilizing the Nigerian currency.
However, NACCIMA’s president revealed that the policy reversal would facilitate further consultations with the business community and stakeholders, with the formation of a review committee for the Expatriate Employment Levy policy.
He stated, “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.”
Expressing gratitude to the government for their receptiveness, Oye emphasized their dedication to fostering an environment conducive to both local and international investors.
“We thank all stakeholders for their engagement and patience during this period,” Oye concluded.
The suspension offers a reprieve for businesses and investors concerned about the levy’s potential negative impact on Nigeria’s investment climate. With further consultations underway, stakeholders anticipate a more collaborative approach to policymaking, aiming to bolster economic growth and reinforce Nigeria’s position as an attractive investment destination.
