BREAKING: FG Finally Bows To Pressure, Suspends Expatriate Employment Levy
President Bola Tinubu-led Federal Government has temporarily suspended the implementation of the recently enacted Expatriate Employment Levy,
The policy was recently introduced by the Minister of Interior, Olubunmi Tunji-Ojo, to impose taxes on foreign workers to encourage their companies to hire qualified local workers.
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture alongside key partners announced the temporary postponement of the policy on Friday.
“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. 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 association said in a joint statement, signed by its President, Dele Kelvin Oye.
The association explained that the resolution to suspend the policy was taken following a successful Trade and Investment outreach led by President Tinubu in Qatar.
The investment had in attendance Mr Tunji-Ojo and Minister of Industry, Trade and Investment, Doris Aniete.
The policy had faced multiple criticisms with many arguing that it could deter foreign investment and also diminish economic efficiency.
