16th March 2024
The Manufacturers Association of Nigeria, Lagos Chamber of Commerce and Industry and the Centre for the Promotion of Private Enterprise have commended the Federal Government over its decision to halt the implementation of the Expatriate Employment Levy.
The private sector advocacy groups, in different statements, lauded the Federal Government for listening to widespread calls which urged it to stay in action on the implementation of the new policy.
The Director-General of MAN, in a statement made available to Saturday PUNCH, said there was no doubt that the anxiety that enveloped the business community following the introduction of the levy had abated.
He added that the international business community, particularly those with whom the country had signed trade agreements, would also be reassured of its commitment to the creation of a congenial business environment.
He said, “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.”
On its part, the LCCI described the move to suspend the initiative as 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.
It said that by suspending the Expatriate Employment Levy, the Federal Government had demonstrated a willingness to engage with the business community and adapt policies to better align with economic realities.
SOURCE:PUNCH