Nigerian Investment Promotion Commission (NIPC) is pleased to announce that the List of Pioneer Industries and Products approved by the Federal Executive Council (FEC) in August 2017 (Pioneer List) has been gazetted. This represents the first update to the Pioneer List since March 2006.
The Pioneer List represents the list of activities which are eligible for the Pioneer Status Incentive, a tax holiday which grants company income tax relief to profits made from engaging in eligible activities for an initial period of 3 years, extendable for one or two additional years.
The current Pioneer List has been classified using the International Standard Industrial Classification of All Economic Activities (ISIC), RevA to remove ambiguity from the Pioneer List and encourage alignment with the standard used by National Bureau of Statistics for reporting on Nigeria’s statistics and ease like for like comparison.
The Pioneer List is available on the websites of NIPC (www.nipc.gov.ng) and Federal Ministry of Industry Trade and Investment (www.fmiti.gov.ng). It will be reviewed every two years for possible additions and deletions. Any additions approved by the FEC shall become effective immediately after approval, while any deletions approved by the FEC shall become effective 3 years after approval.
Stakeholders are welcome to submit suggestions of additions to or deletions from the Pioneer List to NIPC at any time, together with a succinct rationale, for consideration. Such submissions should go to firstname.lastname@example.org.
The gazette can be downloaded from www.nipc.gov.ng/pioneer-status-incentives-document/
All enquiries should be directed to NIPC’s Incentives Administration Division (email@example.com).
02 November 2018