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NIGERIA RISKS LOSING FOREIGN DRILLING FIRMS OVER EXPATRIATE LEVY
The Borehole Drillers’ Association of Nigeria, on Monday, called on the Federal Government to review the Expatriate Employment Levy, saying it poses a threat to the survival of the drilling industry.
The body also said its members, especially the foreign investors, have been worried about the new EEL, saying it was not beneficial to continue to operate in the country.
BODAN President, Mr Francis Uzoma, told the News Agency of Nigeria on Monday that the decision had prompted many foreign drilling companies to consider relocating to other countries.
President Bola Tinubu on February 28, 2024, launched the new EEL policy, which stipulates that a firm employing an expatriate as a director will pay $15,000 and $10,000 for other employees.