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

More Articles

Search

Connect With Us

Got any questions?

If you are having any questions, please feel free to ask.

Send us an email

Frequently Asked

  • What additional documents do I require to file my Annual Returns?
  • Must my Company Secretary be a Lawyer?

    Although it’s ideal to have a lawyer as a company secretary, it is not compulsory for small private businesses.
  • What is a testimonium clause in an agreement?

    This is the part of the agreement where the witness attests to have witnessed the execution of the agreement.
  • If I have NAFDAC Registration number, do I still need SON registration number?

    SON Product Registration scheme is mandatory for all SON’s regulated products as mandated by SON Act 56 of 1971, 20 of 1984, 18 of 1990 as amended.

    This is irrespective of the registration done by NAFDAC
  • What is personal data?

    This is any information that can be used to identify an identifiable human person such passport photograph.
  • Who benefits from copyright protection?

    The creator of a copyright work, usually referred to as the “author” of the work owns the copyright in the work in the first instance. However, the author is at liberty to transfer his rights to a third party. In such a case, the person who has obtained the right by transfer or other legal means becomes the owner of the copyright.
  • Do I have to physically drop off my product sample at NAFDAC office?

    No, you can choose to have it sent to NAFDAC office
  • How many shareholders do I need to start a company?

    A minimum of one (1) adult shareholder is required to form a company.
  • What is a trademark?

    A trademark can be any word, sign, symbol or graphic that you apply to your company, goods or services to distinguish them from those of your competitors; for example, a brand, product or company name, or logo. The trademark serves as a badge of origin for your business and its brands and products, and can consist of words, logos, slogans, colours and shapes, or a combination of all of these.
All FAQs
Call Us Now on +234 901 719 0079 Chat on WhatsApp