By Adedapo Adesanya
The Manufacturers Association of Nigeria and the Lagos Chamber of Commerce and Industry (LCCI) have lauded the decision of the federal government to halt the implementation of the Expatriate Employment Levy (EEL).
The Expatriate Employment Levy, a new policy that was introduced by the federal government aimed to address wage gaps between expatriates and the Nigerian labour force while encouraging skills transfer and the employment of qualified Nigerians in foreign-owned companies.
The new fee was $10,000 for staff and $15,000 for directors, which represented a significant shift from the $2,000 paid by foreign nationals for the Combined Expatriate Residence Permit and Alien Card.
The introduction of the EEL had been met with strong criticism from members of the organised private sector, who argued that the policy may negatively affect foreign direct investments in the country.
However, following widespread criticism, the FG decided to suspend the move on March 8.
MAN, in a statement, said there was no doubt that the anxiety that enveloped the business community following the introduction of the levy had abated.
The manufacturers’ group added that the international business community, particularly those with whom the country had signed trade agreements, would also be reassured of its commitment to the creation of a congenial business environment.
On its part, the LCCI described the move to suspend the initiative as a proactive stance by the government in responding to the concerns of the business community and fostering a conducive environment for economic growth and development.
It said that by suspending the Expatriate Employment Levy, the federal government had demonstrated a willingness to engage with the business community and adapt policies to better align with economic realities.
Modupe Gbadeyanka