Admin I Monday, March 11, 2024
ABUJA, Nigeria – The Federal Ministry of Industry, Trade and Investment today reported on a historic meeting that exemplified the government’s consultative approach to policy formation.
The session, which addressed the recently enacted Expatriate Employment Levy (EEL), concluded with a review of the policy, marking a milestone in government-private sector relations.
Following President Bola Ahmed Tinubu’s strategic Trade and Investment mission in Qatar, the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), along with influential industry stakeholders, met with the Honourable Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, and the Honourable Minister of Interior, Olubunmi Tunji-Ojo. The meeting included Mr. Dele Oye, President of NACCIMA, and leaders across the organised private sector.
Dr. Doris Uzoka-Anite underscored the essence of the private sector, stating, “Without the private sector, we cannot create jobs. If the private sector does not feel comfortable with policies to create jobs, jobs won’t happen.” She further emphasized the need for policies that cater to foreign investment: “We need to find a win-win situation that allows foreign direct investment to continue to flow into the country without obstacles.”
Aligning with this vision, the attendees reached a consensus that:
– The implementation of the Expatriate Employment Levy will pause for additional consultations with crucial stakeholders.
– A joint committee will be established to review the EEL policy, incorporating perspectives from the Ministry of Industry, Trade and Investment, the Ministry of Interior, and other pertinent parties.
– The initial rollout of the EEL is deferred, adhering to the meeting’s resolutions.
The government’s openness to dialogue and its decisive action in response to feedback from the business community reflects its dedication to nurturing an attractive investment climate for both local and international stakeholders.
Dr. Uzoka-Anite commended the collaborative efforts, noting, “This is indicative of our commitment to creating an inviting atmosphere for both local and international investors.”
The organised private sector representatives and their associates pledged continued collaboration with the government to ensure policy alignment with Nigeria’s economic aspirations, reinforcing the nation’s position as a desirable investment hub.
Investors are reassured to proceed confidently with their business and investment endeavours in Nigeria, bolstered by the ministers’ assurances during negotiations, which reassert the government’s intent to cultivate an enhanced investment landscape conducive to economic growth.
