President Bola Tinubu has introduced the Expatriate Employment Levy (EEL) as a strategic move to address wage disparities between expatriates and the Nigerian labor force.
This policy also mandates companies to pay levies for hiring expatriates and outlines guidelines for the employment of Nigerians in foreign-owned businesses.
During the launch, President Tinubu emphasized that the EEL is designed to oversee expatriate employment in the country without hindering foreign investment. The initiative, outlined in the EEL handbook, aims to reduce reliance on foreign skills and encourages companies to prioritize hiring Nigerians, thereby supporting the development of the local workforce.
According to the policy document, the government seeks to strike a balance between leveraging foreign expertise and fostering local talent in Nigeria's job market through the EEL.
President Tinubu highlighted the significance of the policy, stating, "I consider it a game changer. It is important to know that EEL is a contribution recently approved by the government, which will impose an effective timeline on expatriates working in this country to be able to train and develop Nigerians."
He further assured that the EEL has the potential to address security challenges and regulate the movement of foreigners in and out of the country by plugging loopholes and gaps in the existing system.
President Tinubu expressed optimism about improvements in the standard of living for Nigerians through the initiatives undertaken by his administration. He emphasized the importance of collaboration among government agencies to achieve developmental goals, stating, "Continued cooperation among MDAs [Ministries, Departments, and Agencies] would spur advancement and development that would retool and reengineer the nation’s financial system."
He concluded by emphasizing the need for effective guidance in immigration matters, expatriate quotas, and collaboration with relevant stakeholders to make Nigeria the focal point of the EEL objectives.
This strategic move by President Tinubu reflects a commitment to nurturing local talent and fostering economic growth by ensuring a fair and balanced employment landscape. The EEL is poised to shape the employment landscape in Nigeria by promoting the training and development of the local workforce.
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