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 decision was revealed in a statement signed by Dele Kelvin Oye, the National President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, on Friday.
The suspension follows a successful Trade and Investment outreach led by President Bola Ahmed Tinubu in Qatar, along with a productive meeting with Minister of Industry, Trade and Investment, Doris Aniete, and Minister of Interior, Olubunmi Tunji-Ojo. Attended by key stakeholders such as the President of the Petroleum Technology Association and the Director General of the Nigerian Turkiye Business Council, among others, the meeting aimed to address concerns raised by private sector groups regarding the levy.
In the statement, Oye announced, “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.”
The introduction of the levy had faced criticism from private sector groups, who argued that it could negatively impact Foreign Direct Investment and the stability of the naira. In response to these concerns, the NACCIMA president stated that the policy reversal would allow for further consultations with stakeholders and the formation of a review committee.
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 review the EEL policy, with the rollout of the levy deferred in accordance with the resolutions made.
Oye expressed gratitude to the Federal Government, the Ministry of Industry, Trade and Investment, and the Ministry of Interior for their willingness to engage in dialogue and consider the implications of the EEL on the business community. He emphasized the commitment of NACCIMA and its partners to work with the government to align policies with the nation’s economic objectives and promote Nigeria as a prime destination for investments.
The NACCIMA president encouraged both current and prospective investors to continue their business activities and investment plans in Nigeria with confidence, citing the government’s readiness to enhance the investment landscape and support economic growth.
In conclusion, Oye thanked all stakeholders for their engagement and patience during this period.
