Home News NIPC issues report on pioneer status incentive for Q3 2018

NIPC issues report on pioneer status incentive for Q3 2018

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Nigerian Investment Promotion Commission (NIPC) has released the Report of Pioneer Status Incentive processed between 01 July and 30 September 2018

The Report shows that twenty-two new applications and three Extension applications were received during the period. Twelve applications were granted approval in principle and the twelve companies had a total investment of ₦93.06 billion, while direct jobs created was 1,422 with the Manufacturing sector accounting for 58% of the approvals. Four companies were granted Extension for 2 years and their total investment is put at ₦97.58 billion while direct jobs created was 2,289.

The report further revealed that eighteen companies were granted Pioneer Status Incentive with confirmed production dates, one application was declined and twenty-seven companies are still enjoying Pioneer Status Incentive in the reporting period.

SOURCE; NIPC INTELLIGENCE

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