The Nigerian government has put on hold, the implementation of the newly introduced $10,000 Expatriate Employment Levy (EEL) intended to address wage gaps between expatriates and Nigerian workers while encouraging skills transfer and the employment of qualified Nigerians in foreign-owned companies.
The Matrix reports that last week Tuesday, President Bola Tinubu launched the Expatriate Employment Levy (EEL) amid fanfare in Abuja.
This development however attracted widespread condemnation from different private sector groups like the Nigeria Employers’ Consultative Association (NECA), Lagos Chamber Of Commerce and Industry (LCCI), Manufacturers Association of Nigeria (MAN) and a leading economy think-tank, Centre for the Promotion of Private Enterprise (CPPE) amongst many others.
They opined that the introduction of the levy will impact the much-needed Foreign Direct Investment (FDI) drive by the current administration to rein in the free fall of the naira.
However, a latest twist on the policy came to light this Friday after a closed-door meeting of the Minister of Industry, Trade and Investment with the Minister of Interior, Olubunmi Tunji-Ojo and the organised private sector.
A joint Committee has also been constituted to look at the implications of the EEL on the economy.
Briefing a section of the media at the sidelines of the meeting, the Minister of Industry, Trade and Investment said “We came with NACCIMA and the Organized Private Sector to meet with the Minister of Interior to get clarity on the EEL and we have had very engaging and fruitful discussion.”
Doris Uzoka-Anite added that at the end of the meeting all parties involved “agreed to set up a joint committee to look at the implications of the EEL and how to implement it; pending that, the EEL implementation and rollout will be on hold until the stakeholders convene and meet”, she concluded.
On his part, the Minister of Interior, Olubunmi Tunji-Ojo said “This is about stakeholders engagement. It’s the first line in terms of the engagement process and we assure you the engagement process will continue and at the end of the day, there will only be one winner, and that will be Nigeria.”
Dele Oye, President, Nigeria Association of Chambers of Commerce Industry Mines and Agriculture [NACCIMA] and Nicolas Odinuwe, Chairman, Petroleum Technology Association of Nigeria [PETAN] who were both present at the stakeholders meeting, hailed the outcome of the meeting, describing it a significant breakthrough.
Mr Oye said he was entirely grateful for the government’s current stance on the policy which had received knocks from key industry players and other stakeholders. In a chat with the media also at the sidelines of the meeting, he said “our members were impacted by the proposed policy. So we want to use the opportunity to appeal to the industrialists and our various members that they should go on doing their business and that the effect or the likelihood of the proposed policy will be reviewed after we’ve done the stakeholders’ engagement.”
In a chat with journalists, Nicolas Odinuwe said “It’s been a very fruitful meeting and I’m happy with the outcome and see that a collaboration now exists between the two the ministers that were involved in it. And I would hope that the joint committee being set up will work quickly to make sure that all nerves are calmed so that the industry can grow.”
