Nigerian Investment Promotion Commission (NIPC) has released the report of Pioneer Status Incentive processed between 1 July and 30 September 2019, showing that 19 new applications were received during the period.
According to the report published on NIPC website, one application was granted approval in principle: the company, in the Tourism sector, had a total investment of ₦3.03 billion, while its staff strength was 65.
The report states that two applications were granted direct Presidential approval for an extension for 2 years: the two applications had a total investment of ₦185.63billion, while their staff strength was 3085.
The report revealed further that, during the reporting period, 11 companies were granted Pioneer Status Incentive with confirmed production dates while one application was declined. Forty-one companies are still enjoying the Pioneer Status Incentive, 41 applications were abandoned, while 113 applications are pending, the report said.
