EXPATRIATE EMPLOYMENT LEVY UNVEILED BY TINUBU

President Bola Ahmed Tinubu has introduced the Expatriate Employment Levy (EEL), a mandatory contribution imposed on organizations employing expatriate workers in Nigeria.

During the launch, he assured that his administration is implementing measures to overcome the current challenges in the country, expressing optimism about a brighter future.

Tinubu highlighted the importance of the levy, anticipating positive impacts on revenue, indigenization, and employment opportunities in Nigeria. He described the initiative as a game-changer, emphasizing its role in training and developing Nigerians by setting an effective timeline for expatriates working in the country.

He stated, “We expect revenue generation improvement, improved naturalization and indigenization, employment of more Nigerians by foreign companies operating in this country, balancing of employment opportunities between Nigerians and expatriates, closing the wage gap between the expatriate and the Nigerian labour force by making it more attractive to hire Nigerians.”

The Minister of Interior, Olubunmi Tunji-Ojo, revealed that the EEL is a public-private project aligned with the president’s 8-point agenda, particularly focusing on job security and economic growth. The Chairman of the Senate Committee on Interior, Adams Oshiomhole, commended the initiative as a bold step forward.

Baba Martins; From the News Source: DailyTrust