The Federal Government has suspended the implementation of the recently enacted Expatriate Employment Levy by the Federal Ministry of Interior, as administered by the Nigerian Immigration Service.

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

Oye said the resolution was taken following a successful Trade and Investment outreach led by President Bola Ahmed Tinubu in Qatar and a productive meeting with the Minister of Industry, Trade and Investment, Doris Aniete, and the Minister of 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.”

treesun:
The Federal Government has suspended the implementation of the recently enacted Expatriate Employment Levy by the Federal Ministry of Interior, as administered by the Nigerian Immigration Service.

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

Oye said the resolution was taken following a successful Trade and Investment outreach led by President Bola Ahmed Tinubu in Qatar and a productive meeting with the Minister of Industry, Trade and Investment, Doris Aniete, and the Minister of 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.”

https://punchng.com/just-in-fg-suspends-implementation-of-expatriate-employment-levy/

NOGRUDGES:
They connived with their friends to kill this laudable levy, too many complacency. Too many sell outs.

flokii:


This is why I don't rate NLC or TUC or whichever Labour Union we have.. they are just so ineffective.

Obasanjo had to introduce nationalization/indigenization policy to rescue Nigeria from hands of foreigners back then.. we are gradually tilting back towards that era of anomaly where foreigners are holding managerial and CEO positions while Nigerians are used as labourers and contract workers with no social or health benefits.

NOGRUDGES:


The same way they are killing the local content act.

treesun:
Trust APC to always do the wrong things, NO plan for Anything, Tinubu iis not capable!

SpecialAdviser:
Another one!!!!

After all the very good his mo.ronic supporters gave him

flokii:
Nigerians must rise up against these foreigners now before it's too late..

Local content, technology & skill transfer are very vital for FDIs entering into any country.. Some greedy Nigerians in top positions won't mind sabotaging national interest to keep their pay and inflow of fat income.

There is nothing special a white man needs to do that a Nigerian can't do with the right skills set and training. These foreigners don't want to train our people, reason they are shipping themselves into the country at alarming rate.

Nigerians must wake up and support the Minister of Interior on this expatriate levy.. else in the next 8 - 10 yrs, only foreigners will be in working class in Nigeria.
Why flood Nigeria with Chinese people when we have Engineers graduating from our tertiary institutions?. Ori wa o pe rara ni ilu yi.

ambale:
U dey beg people for investment, you still want use it hand chase them away

This man better start listening or even drag his team to do better

U can't be indecisive as a president ooo

Kaycee9242:
A step forward and hundreds backward