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The Federal Government has temporarily suspended the implementation of the recently enacted Expatriate Employment Levy by the Federal Ministry of Interior, as administered by the Nigerian Immigration Service.
The decision was contained in a statement signed by Dele Kelvin Oye, the National President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), on Friday, March 8, 2024.
Tinubu recently led a Nigerian delegation on an outreach on trade and investment with Qatari investors during his state visit to the Arabian country.
As revealed by Oye, the resolution to suspend the policy was reached after the outreach and a productive meeting with the Minister of Industry, Trade and Investment, Doris Aniete, and the Minister of Interior, Olubunmi Tunji-Ojo.
The meeting also had in attendance 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 President signed the Expatriate Employment Levy Management System (EELMS) handbook on Tuesday, February 27, 2024, giving guidelines on the employment of Nigerians in foreign-owned companies.
However, the policy, initiated to necessitate employers to pay a levy for hiring expatriates in the country, was met with widespread condemnation from private sector groups.
Among other reasons, critics argued that the levy would throw a spanner in the efforts of the current administration to rake in Foreign Direct Investment to arrest the depreciation of the naira.
Meanwhile, Oye said the suspension would allow for further consultations with NACCIMA and other stakeholders, adding that a review committee would be constituted.
“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 rollout of the EEL, as initially proposed, will be deferred in accordance with the resolutions made.
“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.
“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,” the statement partly read.