Investments: Tinubu advocates greater home-grown skill retention

By Egena Sunday Ode

President Bola Tinubu on Tuesday in Abuja launched the Expatriate Employment Levy (EEL) to facilitate home-grown skill retention and technology domestication and to balance employment opportunities between Nigerians and expatriates.
Speaking at the launch of the Expatriate Employment Levy handbook, the President also said the aim is to close wage gaps between expatriates and the Nigerian labour force, while increasing employment opportunities for qualified Nigerians in foreign companies operating in the country.
President Tinubu, however, warned that the scheme should not be used as an impediment nor as a cudgel wielded to discourage foreign investors.
“We expect improved revenue generation; improved naturalization and indigenization; we anticipate the employment of more qualified Nigerians by foreign companies operating in this country. We seek a greater balancing of employment opportunities between Nigerians and expatriates and the closure of the wage gap between expatriates and the Nigerian labour force by making it more attractive to hire Nigerians.
“I declare my support for the Expatriate Employment Levy scheme, and I will continue to encourage the operators, practitioners of immigration matters and expatriate quotas, but I emphasize: do not use it as a bottleneck; do not use it as an obstacle to frustrate potential investors.
“There will be clear lines of implementation and effective acceleration of aims and objectives of this programme. officials in charge of immigration matters, expatriate quotas, and relevant stakeholders have to be effectively guided to make Nigeria the focus of the objective of this EEL. Therefore, it is my honour to launch the handbook of the Expatriate Employment Levy,” President Tinubu said.