▪︎ MAN Director-General, Segun Ajayi-Kadir/ Facebook Photo.
The Manufacturers Association of Nigeria (MAN) has appealed to President Bola Tinubu to consider and to discontinue the Expatriate Employment Levy Policy because of the negative impacts on domestic industries , and foreign direct investments (FDI).
The Association also urged Mr President to direct the Nigeria Immigration Service to refrain from enforcing compliance with the policy.
MAN, in a position document on the EEL Levy Policy, signed by its Director-General, Segun Ajayi-Kadir, expressed dismay over the policy, and asserted that if allowed to sail, it would ruin the economy as well as the domestic and foreign private investors.
Ajayi-Kadir said that While the manufacturers fully support policies aimed at promoting quality job opportunities for Nigerians, the Expatriate Employment Levy is not necessary at this time.
“The policy is potentially an albatross to the realisation of Mr. President’s private sector- led economy aspirations and would certainly ruin the trust and confidence he is striving hard to build among domestic and foreign private investors. He noted that expatriates in Nigeria currently pay more than the $2000 for CERPAC.
” The levy is already being perceived as a punishment imposed on investors for daring to invest in Nigeria and indigenous companies for employing needed foreign nationals.
It will deter multinational companies from either investing in Nigeria or setting up regional headquarters in the country.
“Also, the levy will make Nigeria a more expensive location for global expertise that international companies require for their operations.
Overall, we risk slowing down knowledge and skills transfer to Nigerians and undermining a key avenue for the country to move up the technology ladder,” said the Director-General.