The suspension of implementation of the new Expatriate Employment Levy (EEL) by the Federal Government of Nigeria has brought excitement to brand owners under the umbrella of the Organised Private Sector (OPS).
The OPS disclosed that the resolution to temporarily suspend the controversial EEL was reached after a productive meeting with the Minister of Industry, Trade and Investment and the Minister of Interior in Abuja.
The Organised Private Sector (OPS), including Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), Lagos Chamber of Commerce and Industry (LCCI), Manufacturers Association of Nigeria (MAN), the Centre for the Promotion of Private Enterprise (CPPE) and other brand owners have applauded President Bola Tinubu, the Coordinating Minister for the Economy, the Minister of Industry, Trade and Investment and the Minister of Interior for suspending the implementation of the Expatriate Employment Levy (EEL)
The private sector group stated that the gesture was a demonstration of the fact the Tinubu administration is responsive, democratic and inclusive in its governance process.
Commenting on the EEL meeting outcome with government officials, the National President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), Dele Oye said that 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 by the resolutions made.
Expressing gratitude to the Federal Government of Nigeria, the Ministry of Industry, Trade and Investment, and the Ministry of Interior for their understanding and willingness to engage in dialogue, the NACCIMA national president said, “We extend our gratitude to 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.”
NACCIMA advised all investors, both current and prospective, to continue with their business activities and investment plans in Nigeria with confidence.