AfricaeconomyFeaturedNewsNigeria
Trending

Manufacturers, industrialists laud FG’s suspension of Expatriate Employment Levy

The Manufacturers Association of Nigeria (MAN) and the Lagos Chamber of Commerce and Industry (LCCI) have commended the Federal Government for halting the implementation of the Expatriate Employment Levy (EEL).

Mr. Segun Ajayi-Kadir, Director General, MAN, via a statement on Tuesday in Lagos, lauded the intervention of all stakeholders in government for their efforts in discontinuing enforcement of the levy.

The News Agency of Nigeria (NAN) recalls that the Federal Government on Feb. 27 announced the introduction of EEL to encourage the employment of more Nigerians by foreign companies.

However, following agitations of the organised private sector over the development, the government on March 8 halted its implementation.

Ajayi-Kadir said the EEL suspension was in the interest of domestic and foreign private-sector investors in Nigeria.

He said the anxiety that enveloped the business community following its introduction had abated.

“Also, the international business community, particularly those with whom we have signed trade agreements, will also be reassured of our commitment to the creation of a congenial business environment,” he said.

Also, Dr. Chinyere Almona, Director General, LCCI, commended the Federal Government’s decision to suspend the controversial EEL.

Almona said the move demonstrated a proactive stance by the government in responding to the concerns of the business community.

She added that the decision also showed the government’s resolve to foster a conducive environment for economic growth and development, which the chamber vigorously advocated for.

“The chamber views the suspension as a positive response to the grave concerns of the private sector, and the act promotes a cordial relationship between the government and the business community toward a better business environment.

READ ALSO:  Sanwo-Olu urges use of innovative technologies in solving challenge

“We urge the government at all levels to remain sensitive to the concerns of the private sector to enhance the profitability and sustainability of businesses in Nigeria.

“By suspending the Expatriate Employment Levy, the Federal Government of Nigeria has demonstrated a willingness to engage with the business community and adapt policies to better align with economic realities.”

“The LCCI looks forward to continued collaboration in advancing the interests of the Nigerian business community,” she said. (NAN)

Related Articles

Back to top button
error: Content is protected !!
Verified by MonsterInsights