Expatriate Employment Levy Suspended.
The Federal Government, led by President Bola Tinubu, has yielded to pressure and temporarily suspended the implementation of the recently introduced Expatriate Employment Levy.
The policy, championed by the Minister of Interior, Olubunmi Tunji-Ojo, aimed to levy taxes on foreign workers to incentivize companies to hire qualified local employees.
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The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, along with key partners, announced the temporary postponement of the policy on Friday.
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In a joint statement signed by its President, Dele Kelvin Oye, the association disclosed that a joint committee, comprising members of the Ministry of Industry, Trade and Investment, the Ministry of Interior, NACCIMA, and other stakeholders, would be formed to review the Expatriate Employment Levy (EEL) policy.
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The association clarified that the decision to suspend the policy came after a successful Trade and Investment outreach led by President Tinubu in Qatar. The outreach included the presence of Mr. Tunji-Ojo and the Minister of Industry, Trade and Investment, Doris Aniete.
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Critics of the policy had raised concerns about its potential negative impact on foreign investment and overall economic efficiency.
The temporary suspension allows for further consultations with NACCIMA and other vital stakeholders to ensure a more comprehensive review of the Expatriate Employment Levy.
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