Following an increase from $1000 to $2,000, Nigeria’s visa fees for foreign nationals working in the country is now among highest in Africa and is set to discourage foreign investment in the country.
According to Business Insider Africa, foreign workers in Nigeria are required to pay $2,000 per year for a work permit, which is more than double the cost of a work permit in other African countries such as Ghana and Rwanda.
The average work permit cost in Africa is $824 per year. Nigeria’s visa fees are also higher than those of other major African economies, such as South Africa ($777 per year) and Egypt ($1600 for two years). The high cost of visas is a major discouragement to foreign investors, who are already facing a number of other challenges in Nigeria, such as currency instability, insecurity, and poor infrastructure.
Other African countries have recognised the importance of attracting foreign investment and have taken steps to make it easier for foreign workers to obtain work visas. For example, Rwanda offers a two-year work permit for $124, while Ghana charges $1,000 per year for a work permit. Economic experts believe Nigeria’s high visa fees are particularly damaging to its economy because they discourage foreign investment in key sectors such as oil and gas, manufacturing, and technology. Foreign investment is essential for job creation and economic growth in Nigeria.
They urged the Nigerian government to take urgent steps to lower visa fees for foreign workers, hoping that it would make the country more attractive to foreign investors and help boost economic growth and job creation.
