FG REGULATES EXPATRAITE QUOTA HANDBOOK TO EASE FOREIGN DIRECT INVESTMENT.

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EXPATRAITE QUOTA HANDBOOK REGULATION TO EASE FOREIGN DIRECT INVESTMENT

EXPATRAITE QUOTA HANDBOOK REGULATION TO EASE FOREIGN DIRECT INVESTMENT: The FGN has said that in strict compliance of the Expatraite Quota Administration with local content regulation and national interest, about 60,000 middle level employment opportunities are expected annually through the compulsory understudy programme for knowledge and skill transfer. He made the statement at the 2nd Stakeholders’ Meeting on Expatriate Quota Administration in Abuja. According to the Minister, every nation regulates the nation’s economic relations with other nations in a mutually beneficial way, thereby leading to technology transfer, manpower development and rapid industrialisation, if properly and effectively managed.

Aregbesola disclosed that at the end of the meeting:

  1. A brand new, well-articulated Handbook on Expatriate Quota Administration would be produced;
  2. That there will be fair & reasonable sanctions
  3. That will be effective enough to curb abuses of Business Permit & Expatriate Quota;
  4. That the benefits and revenues accruable to the country would now begin to pour in;
  5. That our teeming unemployed youth in Nigeria would have increased opportunities stipulated in the Expatriate Quota guideline and
  6. Companies & Organizations that are clients of the Ministry’s Citizenship & Business Department would have a clear understanding employment through the understudy programme of the guidelines and issues surrounding the administration of Business Permit & Expatriate Quota. They would also understand what it takes to cooperate with the Ministry in its bid to provide effective & efficient services to the nation
  7. Finally, that effective implementation of the rules will lead to rapid industrialization, economic growth & social development in Nigeria

The Permanent Secretary of the Ministry, Dr Shuaib Belgore who was also in attendance, noted that, in view of the enormous benefits companies derive from the scheme and its economic importance to the nation, it is required of all stakeholders to ensure that the Expatriate Quota regime is professionally and efficiently managed for the overall good of all.

He reiterated that corporate organizations rely on a well-managed Expatriate Quota System to source appropriate personnel for their operations, towards attaining their corporate goals.

He further revealed that the primary interest of Government is for it to be a tool for job creation, employment generation, skills development as well as a vehicle for Foreign Direct Investment for the nation. The representative of the Ministry of Labour and Employment, observed that the unbridled influx of expatriate workers into the country is of serious concern to the FG as it deprives qualified Nigerians opportunities to be gainfully employed and also promoted capital flight. He stated that it is common knowledge that local capacity that exist and which hold prospective job opportunities for thousands of Nigerians are arbitrarily and unlawfully filled up with expatriates by some forms especially in the construction and gas sector.

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