NIPC has released the Report of Pioneer Status Incentive (PSI) applications processed between 1 January and 31 March 2020.
The Q1 Report shows that 18 new applications and one extension application were received. Eight applications were granted approvals-in-principle for three years, covering companies with a total investment of ₦151.9 billion and 1,460 staff across agriculture, construction, administrative services, information and communication, and manufacturing sectors. One company was granted a two-year extension with a total investment of ₦88.7 billion and 573 staff.
One company was granted a pioneer certificate with a confirmed production date. Three applications were declined during the period. As at 31 March 2020, 39 companies were still enjoying PSI, 125 applications were still pending, and no PSI certificate was cancelled.
