Nigeria has temporarily stopped a controversial tax on businesses hiring expatriates, imposed by President Bola Tinubu.
The levy, ranging from $10,000 to $15,000, sparked widespread criticism. The Ministry of Interior announced the pause to allow for discussions among stakeholders.
The tax was intended to curb misuse of expatriate quotas and bridge wage gaps. The decision was welcomed by business leaders, acknowledging its potential impact on Nigeria’s investment climate.
Organizations like the Nigeria Employers’ Consultative Association raised concerns, fearing it could worsen unemployment amid economic challenges.
Nigeria, heavily reliant on oil exports, faces a tough economic situation exacerbated by currency devaluation and inflation.
Tinubu assured efforts to stabilize the economy amidst hardships faced by Nigerians.
Source : BBC
https://www.bbc.com/news/world-africa-68521394