The Federal Government of Nigeria has temporarily suspended the implementation of the recently enacted Expatriate Employment Levy (EEL) by the Federal Ministry of Interior, as administered by the Nigerian Immigration Service.
The decision came after a successful Trade and Investment outreach led by President Bola Ahmed Tinubu in Qatar and a productive meeting with key stakeholders, including the Minister of Industry, Trade and Investment, Doris Aniete, and the Minister of Interior, Olubunmi Tunji-Ojo.
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The levy, which was launched by President Bola Tinubu last week, faced criticism from private sector groups citing concerns about its potential negative impact on Foreign Direct Investment and the nation’s economy.
According to the statement, 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.
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 levy will be deferred by the resolutions made during the meeting.
Oye further reassured investors, both current and prospective, to continue with their business activities and investment plans in Nigeria with confidence, emphasizing the government’s commitment to enhancing the investment landscape and supporting economic growth.
The suspension of the Expatriate Employment Levy reflects the government’s responsiveness to stakeholders’ concerns and its dedication to fostering a conducive environment for local and international investors.
