President Bola Tinubu unveiled the Expatriate Employment Levy (EEL) to promote home-grown skill retention, technology domestication, and balanced employment between Nigerians and expatriates in foreign companies.
President Bola Tinubu unveiled the EEL during a ceremony held in Abuja today.
At the launch of the Expatriate Employment Levy handbook, the president highlighted the scheme’s crucial role in breaching the employment and wage gap for qualified Nigerians within foreign companies operating in the country.
“We expect improved revenue generation; improved naturalization and indigenization; we anticipate the employment of more qualified Nigerians by foreign companies operating in this country,” he said
President Tinubu declared his support for the Expatriate Employment Levy scheme he stated, “I declare my support for the Expatriate Employment Levy scheme, and I will continue to encourage the operators, practitioners of immigration matters and expatriate quotas,”
He cautioned against using the scheme as an obstacle or a tool to discourage foreign investors, stresing that “I emphasize: do not use it as a bottleneck; do not use it as an obstacle to frustrate potential investors.”
Asserting the importance of clarity in implementation, President Tinubu called for effective guidance of officials handling immigration matters and expatriate quotas to align with the objectives of the EEL.
Related Posts
- Nigeria, Qatar Improve Bilateral Ties
- FG Blasts Atiku Over Foreign Exchange Policy
- Tinubu assures investors investment-friendly tax regime
- Tinubu Approves Oronsaye Report, Lists Agencies, Parastatals to be Scrapped, Merged, Relocated
Additionally, President Tinubu expressed optimism over the concerns for Nigeria’s economy stating that there is light at the end of the tunnel.
He cited the collaborative efforts across key government institutions and regulatory bodies saying “…when you look at the Infrastructure Concession Regulatory Commission (ICRC), the Federal Ministries of Finance, Budget and National Planning, and the people manning the ship of this country, including the Central Bank of Nigeria, they have collaborated, and in the spirit of development and progress, we are glad that good effort is being made to re-engineer the finances of the country and make growth our hallmark.”
Minister of Interior, Mr Bunmi Tunji-Ojo, outlined the details of the scheme, and its public-private partnership model involving the federal government, the Nigeria Immigration Service (NIS), and technical partner EEL Projects Limited.
The minister explained that the scheme aligns with President Tinubu’s eight-point agenda, focusing on job security and economic growth.
“The essence of this is to be sure that if you are bringing an expatriate to work in Nigeria, it should be a job that no Nigerian has the skill to do. That is the major objective of this particular initiative,” Minister Tunji-Ojo emphasized.
