• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, June 1, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Analyst Flays Federal Govt’s Expatriate Employment Levy

by Bukola Aro-Lambo
1 year ago
in Business
Share on WhatsAppShare on FacebookShare on XTelegram

Following the introduction of the Expatriate Employment Levy (EEL) by the federal government, the chief executive of the Center for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf has said, the levy may be counter-productive.

Advertisement

Stating that the timeline for implementation is too short, Muda noted that placing a hefty levy on companies employing expatriates will further deter foreign direct investors from investing in the country.

With the new levy of $10,000 for staff and $15,000 for directors, translating to N15 million and N22.5 million respectively, he said: “the country needs more direct investors than portfolio investors at this time. But ironically, both foreign direct investors and domestic direct investors would be more negatively impacted than portfolio investors.

“The economy needs more investors in the real economy – oil and gas, manufacturing, infrastructure, mining, ICT, Healthcare – all of which require varying skills and competencies.  The truth is that major FDIs will typically hire some critical staff to oversee their investments. It is imperative to give some consideration to this class of investors, given the scale of their investments which could be in billions of dollars.

“The timeline for compliance is too short. The policy gave barely four weeks for companies to comply.  For such a major policy shift, companies needed to be given a minimum of six months.  It is only fair and just to do so. This would be very disruptive for their businesses, plans and projections.

RELATED

NMDPA Executive’s Outburst Against Dangote Refinery Threat To Nigeria, Africa — Analyst

Dangote Refinery Sustains US Crude Purchase With 5m Barrels

4 hours ago
Bala Wunti Exits NNPC, Reflects On Decades Of Impactful Leadership

Bala Wunti Exits NNPC, Reflects On Decades Of Impactful Leadership

4 hours ago

“Some of the companies affected are major investors that have invested billions of dollars and have been in Nigeria for decades.  This administration, being an investment friendly regime, should give companies more time.”

Muda stressed that the challenge of influx of foreigners, especially the unskilled ones, is more pronounced in some sectors than others, suggesting that the policy should be targeted at these more vulnerable sectors.

He also noted that the policy poses 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 in the fields of Education, Medicine, Health, Sports, Media & Entertainment, Leadership & Politics, Finance, Science & ICT, Transportation, Tourism, Industry and Agribusiness.

“This is a pool of very valuable external sector assets for us as a country. 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,” he pointed out.

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

Breaking NEWS: Nigerians can now earn in US Dollars, acquire ultra premium domains for low and sell for super profit. Our client acquired a domain for $3715 and got it sold for $42,000. Click here to see how you too can profit from the business.


SendShareTweetShare
Previous Post

Dangote: Cement Firm Proposes N511.23bn Total Dividend

Next Post

MoneyMaster PSB Mobile Banking App Enriches Customer Experience

Bukola Aro-Lambo

Bukola Aro-Lambo

You May Like

NMDPA Executive’s Outburst Against Dangote Refinery Threat To Nigeria, Africa — Analyst
Business

Dangote Refinery Sustains US Crude Purchase With 5m Barrels

2025/06/01
Bala Wunti Exits NNPC, Reflects On Decades Of Impactful Leadership
Business

Bala Wunti Exits NNPC, Reflects On Decades Of Impactful Leadership

2025/06/01
NADF Unveils Gender-inclusive, Climate-smart Agric Finance Model
Business

NADF Unveils Gender-inclusive, Climate-smart Agric Finance Model

2025/06/01
Arewa Forum Praises Matawalle’s Peace Efforts In Sokoto
Business

Piracy: Minister Commissions 3 War Ships, Helicopters For Navy

2025/06/01
Eid-el-Fitr: 105 PalmPay Users To Get Free Smartphones
Business

PalmPay Empowers 1,500 Women Traders In Kaduna

2025/06/01
Abbey Mortgage Bank Pays N406.154m Dividend, Eyes Fresh Opportunities
Business

Recapitalisation: Abbey Mortgage Bank To Raise Additional N100bn Capital

2025/06/01
Leadership Conference advertisement

LATEST

Elon Musk Denies Drug Use Allegations From 2024 Campaign

Political Detractors Trying To Link Me To My Wife’s Death — Gov Eno

9 Borno Villagers Killed In IED Explosion

Super Falcons vs Cameroon Friendly Postponed Till Monday

Ogun State Sets New Standard For National Sports Festivals – Olopade

Arsenal Open Talks With Leipzig On Deal For Sesko

NBA Player Williamson Accused Of Rape

Draper Outclasses Fonseca At French Open

Heitinga Leaves Liverpool To Become Ajax Head Coach

Marmoush Wins EPL Goal Of The Season For 2024/2025

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.