The Manufacturers Association of Nigeria (MAN) has commended the Federal Government for its decision to halt the implementation of the Expatriate Employment Levy (EEL).
MAN had earlier called for the discontinuation of the EEL recently introduced by the Federal Government.
The association said the levy would ruin the trust and confidence President Bola Tinubu is striving hard to build among domestic and foreign private investors, noting that unintended negative consequences on the manufacturing sector were huge and cannot be accommodated at the time of evident downturn in Nigeria’s economy.
It further described the Expatriate Employment Levy as a punishment imposed on investors for daring to invest in Nigeria and indigenous companies for employing needed foreign nationals.
However, MAN, in a statement issued by its Director General/Chief Executive Officer, Segun Ajayi-Kadir, on Tuesday, March 12, 2024, said: “We deeply appreciate the swift intervention of the Minister of Finance and Coordinating Minister of the Economy.
‘Punishment on investors’: MAN seeks expatriate employment levy’s removal
“We acknowledge the important role of the Minister of Industry, Trade and Investment. We equally recognize the support of the Chairman of the Presidential Committee on Fiscal Policy and Tax Reform.
“Quite importantly, we commend the Minister of Interior for doing the needful in the interest of domestic and foreign private sector investors in Nigeria. There is no doubt that the anxiety that enveloped the business community following the introduction of the levy has abated.
“Also, the international business community, particularly those with whom we have signed trade agreements, would also be reassured of our commitment to the creation of a congenial business environment.”
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