The Centre for Promotion of Private Enterprise, (CPPE) led by Dr. Muda Yusuf has stated that the new Expatriate Employment Levy (EEL) from the federal government may trigger reciprocal actions against Nigerian and negatively impact regional integration of ECOWAS and across Africa.
Dr. Muda Yusuf disclosed this in a statement reacting to the new policy initiative by the Pres. Tinubu administration where he said that the new policy will discourage investment in the real sectors of the economy.
According to him, the policy does not place a restriction on workers from other African countries despite Nigeria’s leadership role in the continent.
- He stated, “Nigeria occupies a leadership position in Africa and very well respected. Our president is the current chairman of ECOWAS. This policy does not make an exception for our African brothers and neighbours.”
“There are serious implications for diaspora Nigerians. The policy may trigger reciprocal actions from other countries, and this may affect Nigerians in diaspora. There are currently over 17 million Nigerians in various countries around the world doing extremely well. - “We have the largest diaspora population in Africa. We also have the highest diaspora remittances on the continent, generally in excess of $20 billion. All of these could be at risk as a result of this policy.
- “If the reciprocity policy is activated in any of their host countries, the effect on our diaspora citizens will be very devastating.”
Furthermore, the group noted that the four weeks compliance time is too short and recommended a six-month period.
Backstory
The federal government recently introduced the Expatriate Employment Levy (EEL) which plans to impose a levy on companies employing foreigners in the country.
The Federal Government’s latest initiative is anticipated to enhance revenue collection, boost job creation for Nigerians in foreign-operated companies within Nigeria, narrow the salary disparities between expatriate and Nigerian employees, among various other advantages.
Source- Statement from the CPPE,
Tags-
