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The Federal Government of Nigeria Grants Tax Holiday to 27 Industries
The Federal Government of Nigeria (FGN) on 02 August 2017, announced the review of the list of industries and products qualified for pioneer status incentives. Pioneer status affords eligible businesses initial 3 years and up to 5 years tax holiday geared towards boosting investment and economic activities in the Country. This is further to the former pioneer status list dated 27 May 2015 containing 44 industries and products eligible for pioneer status in Nigeria. In view of the FGN policy on Economic Recovery and Growth Plan (ERGP) and diversification agenda, it has now extended the list to accommodate additional 27 additional industries and products putting the total at 71. Conversely, the FGN announced that Mineral Oil Prospecting and the Cement Industry have been excluded from pioneer status.
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