Nigeria Investment Promotion Commission has released a report on the Pioneer status incentive applications processed for Q2 2019 from 01 April to 30 June 2019. The report indicated that a total of 24 new PSI applications were received out of which 10 applications were granted approvals in- principle for the period. No application for extension was received.
The ten (10) companies Granted approvals-in-principle has invested a total of N 100.52 billion, with a staff’s strength of 1,526. Five companies are in the agro-allied sector, four in manufacturing and one in the tourism sector.
NIPC reported that three companies were granted pioneer status incentive, and two companies’ applications for an extension were approved.
NIPC further reported that 15 PSI applications were declined, and currently, there are twenty-four (24) PSI beneficiaries as of June 30, 2019.
104 applications are classified as abandoned during the quarter as NIPC has not received any response in over 12 months to request for additional information. While 181 applications are pending.
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