NIPC Issues Report on Pioneer Status Incentive for Third Quarter 2018

By November 28, 2018 March 1st, 2019 NIPC News

Nigerian Investment Promotion Commission (NIPC) has released the Report of Pioneer Status Incentive processed between 01 July and 30 September 2018

The Report shows that twenty-two new applications and three Extension applications were received during the period. Twelve applications were granted approval in principle and the twelve companies had a total investment of ₦93.06 billion, while direct jobs created was 1,422 with the Manufacturing sector accounting for 58% of the approvals. Four companies were granted Extension for 2 years and their total investment is put at ₦97.58 billion while direct jobs created was 2,289.

The report further revealed that eighteen companies were granted Pioneer Status Incentive with confirmed production dates, one application was declined and twenty-seven companies are still enjoying Pioneer Status Incentive in the reporting period.

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