Following the successful Trade and Investment outreach led by President Bola Ahmed Tinubu in Qatar, the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), in collaboration with key stakeholders, announces a temporary step down of the recently enacted Expatriate Employment Levy (EEL) by the Federal Ministry of Interior, as administered by the Nigerian Immigration Service.

This was the resolution of a productive meeting held  with the Honorable Minister of Industry, Trade and Investment and the Honorable Minister of Interior. Others in attendance with the president of NACCIMA Mr Dele Oye were  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.

It was unanimously agreed that:

a) The implementation of the Expatriate Employment Levy will be paused, allowing for further consultations with NACCIMA and other vital stakeholders.

b) 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.

c) The rollout of the EEL, as initially proposed, will be deferred in accordance with the resolutions made.

We extend our gratitude to the Federal Government of Nigeria, the Ministry of Industry, Trade and Investment, and the Ministry of Interior for their magnanimity, understanding and their willingness to engage in dialogue and consider the implications of the EEL on the business community.

This is indicative of their commitment to creating an inviting atmosphere for both local and international investors.

NACCIMA and its partners remain dedicated to working hand in hand with the government to ensure that policies align with the nation’s economic objectives, aiming to position Nigeria as a prime destination for investments.

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.

We thank all stakeholders for their engagement and patience during this period.