Nigeria Grants 34 Companies Tax Break to Boost Investment
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The Nigerian Investment Promotion Commission (NIPC) granted 34 companies a 3-year tax exemption in 2023 to encourage investment
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The pioneer status incentive (PSI) provides a tax holiday, relieving qualifying companies from paying corporate income tax
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NIPC has stringent procedures for granting tax incentives to ensure only deserving companies receive them
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NIPC plans to publish impact assessment reports on whether incentives are achieving goals like job creation
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By the end of 2022's second quarter, 71 companies had benefited from the tax incentive program