Nigerian Investment Promotion Commission (NIPC) received 19 new applications for Pioneer Status Incentive in the third quarter of this year, it said on Friday in a report covering the period.
According to the report, 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 Nigerian government confers the Pioneer Status on companies that are considered leaders in their sectors, which entitles them to certain incentives.
The report said two applications were granted direct Presidential approval for extension for 2 years: the 2 applications had a total investment of ₦185.63billion, with combined staff strength of 3085.
The report noted further that during the period, 11 companies were granted Pioneer Status Incentive with confirmed production dates, while one application was declined.
NIPC further pointed out that 41 companies are enjoying the Pioneer Status Incentive, adding that there were 41 abandoned applications, while 113 applications were pending.
HARRISON EDEH, ABUJA
