FG Suspends $15,000 Expatriate Levy To Avert Mass Exit Of Foreign Investors

The federal government has suspended the $10,000 and $15,000 expatriate levy imposed on employers.

The development is coming after stakeholders criticised the newly introduced levy by the Ministry of Interior.

On February 27, 2024, the federal government launched the Expatriates Employment Levy (EEL) Handbook.

The levy is a government-mandated contribution imposed on employers who employ expatriate workers in Nigeria.

It imposes $10,000 for an expatriate worker and $15,000 for a director.

But in a twist of event, the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), in collaboration with key stakeholders, announced a temporary step down of levy which is administered by the Nigerian Immigration Service.

This was part of resolutions reached at the meeting attended by the Minister of Industry, Trade and Investment and the Minister of Interior.

Others in attendance were the president of NACCIMA Mr. Dele Oye, the President of Petroleum Technology Association, the President of Special Economic Zones Association, the Director General of The Nigerian Turkiye Business Council, the European Union Trade delegation head, the NACCIMA Chair of Digital Trade Group and the representatives of the National Association of Small and Medium Scale Enterprises NASME.

The meeting held 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 in accordance with the resolutions made.”

NACCIMA added encouraged foreign investors to continue with their various projects in the country.

NACCIMA said, “We advise all investors, both current and prospective, to continue with their business

activities and investment plans in Nigeria with confidence. The assurances provided by both

ministers during the negotiations have reinforced the federal government of Nigeria’s intent

to enhance the investment landscape and support economic growth.”

THE WHISTLER had reported that the President and Chairman of the Council of the Lagos Chamber of Commerce and Industry (LCCI), Gabriel Idahosa warned that foreign investors were suspending their projects in Nigeria over the levy.

Idahosa said, “Since the announcement, a couple of investors put a hold on various projects that are in the pipeline. We know because they are our members. They are saying they have to see if they can continue doing business in Nigeria going forward.”