• Tuesday, April 16, 2024
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MAN, LCCI commends FG’s suspension of expatriate employment levy

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The Manufacturers Association of Nigeria (MAN), and the Lagos Chamber of Commerce and Industry (LCCI) has commended the federal government for its decision to halt the implementation of the expatriate employment levy (EEL).

Segun Ajayi-Kadir, director general and chief executive officer of the Manufacturers Association of Nigeria in his commendation speech said: “MAN had earlier made a representation to Mr President and copied to the ministers of finance and coordinating minister of the economy; industry, trade and investment; and interior , to discontinue the enforcement of the levy and followed up with the aforementioned ministers.”

Read also: Manufacturers call for increased government support to restore ailing sector

In addition, Ajayi-Kadir said; “MAN deeply appreciates the swift intervention of the minister of finance and coordinating minister of the economy. We acknowledge the important role of the minister of industry, trade and investment.

“We equally recognise the support of the chairman of the presidential committee on fiscal policy and tax reform. Quite importantly, we commend the minister of interior for doing the needful in the interest of domestic and foreign private sector investors in Nigeria.

There is no doubt that the anxiety that enveloped the business community following the introduction of the levy has abated.

Also, the international business community, particularly those with whom we have signed trade agreements, would also be reassured of our commitment to the creation of a congenial business environment.”

In the same vein, the Lagos Chamber of Commerce and Industry (LCCI) commends the recent decision by the federal government to suspend the controversial expatriate employment levy.

Chinyere Almona, the director general at LCCI said this move demonstrates a proactive stance by the government in responding to the concerns of the business community and fostering a conducive environment for economic growth and development which the chamber advocates for vigorously.

“The chamber views the suspension as a positive response to the grave concerns of the private sector as highlighted by the chamber and other private sector advocacy institutions last week.

“This act promotes cordial relationship between government and the business community towards a better business environment. We urge the government at all levels to remain sensitive to the concerns of the private sector to enhance the profitability and sustainability of businesses in Nigeria,” Almona said.

Furthermore, she said that by suspending the expatriate employment levy, the federal government of Nigeria has demonstrated a willingness to engage with the business community and adapt policies to better align with economic realities.

“The LCCI extends its appreciation to the federal government for its decision to suspend the expatriate employment levy and looks forward to continued collaboration in advancing the interests of the Nigerian business community,” she said.