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Nigeria’s High Visa Fees Deter Foreign Investment, Among Highest in Africa

Nigeria’s High Visa Fees Deter Foreign Investment, Among Highest in Africa 

By Adeke Chukwuka

Nigeria’s steep visa fees for foreign workers stand as some of the highest in Africa, deterring potential foreign investments in the country. Work permits for foreign workers in Nigeria demand an annual fee of $2,000, which is over twice the cost in other African nations like Ghana and Rwanda.

As reported by Business Day, Nigeria’s visa fees surpass the African average significantly. While the average work permit cost in Africa is $824 per year, Nigeria’s fees are higher. In comparison to other major African economies like South Africa ($777 per year) and Egypt ($1600 for two years), Nigeria’s fees are notably elevated.

These high visa costs pose a significant obstacle for foreign investors, especially considering the existing challenges in Nigeria, including currency instability, security concerns, and inadequate infrastructure.

Several African countries have recognized the need to attract foreign investment and have implemented measures to simplify the process for foreign workers obtaining work visas. For instance, Rwanda offers a two-year work permit for $124, and Ghana charges $1,000 per year for a work permit.

Economic experts argue that Nigeria’s high visa fees are particularly detrimental to its economy as they discourage foreign investment in vital sectors like oil and gas, manufacturing, and technology. Foreign investment plays a crucial role in job creation and economic growth in Nigeria.

These experts have called on the Nigerian government to swiftly reduce visa fees for foreign workers. They believe that this action could enhance the country’s appeal to foreign investors, consequently stimulating economic growth and job creation.

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