What are the products/industries eligible for Pioneer Status Incentive in Nigeria?

What are the products/industries eligible for Pioneer Status Incentive in Nigeria?

October 25, 2019

Pioneer status incentive is a tax holiday given to companies for a period of time to encourage the growth and development of the Nigerian economy. A new company or an existing company with an expansion plan may apply for the Pioneer Status Incentive which lasts for 3 years and is renewable upon application for 2 more years. The Industries/products that are entitled to the Pioneer Status Incentive are;

  1. Industries that engage in cultivation, Processing and Preservation of food crops and fruits.
  2. Integrated dairy production.
  3. Deep sea trawling and processing, Coastal fishing and shrimping.
  4. Mining lead, zinc, and iron and steel from iron ore.
  5. Manufacture of iron and steel from Iron ore,the smelting and refining of non-ferrous base metal and the manufacture of their alloys.
  6. Mining and processing of barytes, bentonites and associated minerals.
  7. Manufacture of oil well drilling materials containing a predominant proportion of Nigerian raw materials.
  8. The manufacture of cement,Manufacture of glass and glassware.
  9. Manufacture of lime from local limestone
  10. Quarrying and processing of marbles.
  11. Manufacture of ceramic products.
  12. Manufacture of basic and intermediate.
  13. Formulation and manufacture of pharmaceuticals.
  14. Manufacture of yeast, alcohol and related products.
  15. Manufacture of paper pulp.
  16. Manufacture of yarn and man-made fibres.

618 Bees can help you quickly and easily obtain this Incentive. Log on to our website www.618bees.comor email hello@618bees.com, or give us a call on +2349017190079. 618 Bees will complete your application with the NIPC.

 

 

The information in this blog post (“post”) is provided for general informational purposes only, no information contained in this post should be construed as legal advice, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through this post without seeking the appropriate legal or professional advice from the particular facts and circumstances at issue from a lawyer. This post is protected by intellectual property law and regulations. It may however be shared using appropriate sharing tools provided that our authorship is always acknowledged and this Disclaimer Notice attached

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