NIPC has published three Quarterly Reports on Pioneer Status Incentives (PSI) covering the periods January–March, April–June, and a cumulative report from inception to June 2018. The reports provide a comprehensive overview of applications received, approvals granted, and the economic impact of the incentive programme.
The cumulative report to June 2018 shows that NIPC received 81 applications for pioneer status across a range of qualifying industries and products. Of these, 19 certificates were approved, supporting capital investments of approximately ₦680 billion and sustaining 5,417 jobs. The reports also detail applications that were denied, withdrawn, or are still under consideration.
Pioneer Status Incentive is a tax holiday of up to five years granted to companies investing in industries designated as pioneer industries, or producing goods designated as pioneer products, under the Industrial Development (Income Tax Relief) Act. The incentive is intended to stimulate investment in critical sectors of the Nigerian economy by reducing the tax burden during the early years of operation.
NIPC administers the PSI programme and publishes quarterly reports to improve transparency and enable investors to track the progress of their applications. The Q1 and Q2 2018 reports, as well as the cumulative report from inception to June 2018, are available on the NIPC website.
