The Nigerian government had announced a new policy that would reduce the imported workforce in Nigeria while providing more job opportunities for Nigerians.
Foreign companies will now be required to pay US$15,000 (N24,459,900) for expatriate directors and US$10,000 (N16,306,600) for other categories of workers.
The levy applies to employees who work for at least 183 days in a year.
Organisations or individuals failing to comply with the scheme face fines or a jail term of up to five years. The staff of diplomatic missions and government officials are exempt.
The move was to balance employment opportunities between Nigerians and expatriates, President Bola Tinubu explained.
He said: “The goal is to close wage gaps between expatriates and the Nigerian labour force while increasing employment opportunities for qualified Nigerians in foreign companies in the country.”
The President spoke while launching the Expatriate Employment Levy, EEL, handbook in Abuja on Tuesday.
There are more than 150,000 expatriates in Nigeria, according to data from the Ministry of Interior. They mostly work in the oil and gas, construction, telecommunication and hospitality sectors.
“As the imported workforce continues to grow internally, the Federal Government of Nigeria deemed it important to implement the EEL that seeks to balance economic growth, social equity, and workforce development,” the EEL handbook stated.
Ezinwanne Onwuka, senior staff reporter and columnist with WAP is a Nigerian-based writer and content developer. She holds a Bachelor of Arts degree in Philosophy from the prestigious University of Nigeria, Nsukka. Her interests include reading, writing, researching and graphic designing.
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