MAN: 335 Manufacturing Companies Became Distressed, 767 Shut Down in 2023 Says expatriate employment levy will ruin investors’ confidence Tinubu is striving hard to build
Dike Onwuamaeze
As controversy trails the newly introduced Expatriate Employment
Levy (EEL) of $10,000 and $15,000 for staff and directors, respectively, the Manufacturers Association of Nigeria (MAN) has revealed that
335 manufacturing companies became distressed while 767 shut down in 2023. MAN warned that the EEL
would certainly ruin the confidence President Bola Ahmed Tinubu was striving to build among domestic and foreign investors.
The views were contained in a statement issued yesterday by Director-General of MAN, Mr. Segun Ajayi-Kadir, titled, “MAN
Expresses Grave Concerns over the Expatriate Employment Levy.” Continued on page 11
FG Opens Talks with AfDB for Funding of Multi-trillion Naira Coastal, Trans-Sahara Highways... Page 5 Wednesday 06 March, 2024 Vol 29. No 10556. Price: N400
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Reuters: Dangote to Establish Oil Trading Arm for Lagos Mega Refinery... Page 11
Friends, Family Remember Chizoba, Chizi Wigwe in Heartfelt Tribute Services Nume Ekeghe and Wale Igbintade
Family, friends, and associates
gathered in a solemn, yet celebratory, atmosphere to pay tribute to the life and legacy of the late Chizoba Wigwe, and her son,
Chizi. Chizoba, wife of the late Access Bank Chief Executive Officer, Herbert Wigwe, was a woman,
whose impact resonated deeply with those who knew her. The memorial service, held to honour Chizoba's memory, was
a poignant reflection of the love and admiration she garnered from various spheres of her life. Similarly, friends and family
had earlier gathered to also honour Chizi, at a separate memorial Continued on page 11
IMF, Fitch Welcome CBN’s Interest Rate Hike, Say Policy Decision Good Multilateral institution declares Tinubu inherited difficult economy Insists Nigeria still capping petrol prices Rating agency: Lack of policy coordination remains risk to reform drive Projects inflation to average 26% in 2024
See story on page 11
Inauguration of Obasanjo Leadership Institute to mark former President's 87th birthday...
L-R: Former President of Ghana, Dr. John Mahama; former Presidents of Nigeria, Chief Olusegun Obasanjo and Dr. Goodluck Jonathan; Ogun State Governor, Prince Dapo Abiodun and his Bayelsa State counterpart, Senator Douye Diri, See story on Page 36 during a public lecture and inauguration of the Olusegun Obasanjo Leadership Institute marking Chief Obasanjo’s 87th birthday at the Obasanjo Presidential Library Complex, Abeokuta, Ogun State ... yesterday
Binance to Discontinue Operations in Nigeria March 8... Page 5