Let’s talk about those 27 new Pioneer Industries in Nigeria

A few days ago, the Federal Ministry of Trade released the list of 27 new industries that are now eligible for Pioneer Status. (The announcement was made via Twitter. Another reason to use Twitter: Government people use it… hehe)

From the Nairametrics.com site, I find this extract to be relevant:

The pioneer status incentive is tax holiday given to companies for a period of time, to encourage the growth and development of the Nigerian economy. A new company or an existing company with an expansion plan may apply for a certificate of pioneer status which lasts for 3 years and is renewable upon application for 2 years. It may also be a seven-year tax holiday in respect of industries located in economically disadvantaged local government areas of the country.

The industries on the list that I am most grateful for are Ecommerce services, Software development, and business process outsourcing.

I am interested in building businesses in this 3 industries and so I am super excited.

Also included are creative industry, entertainment, real estate investment trusts, investment in cosmetic assets, such as Mortgage Backed securities. The list also includes several aspects of mining and manufacturing ventures.

So, check out the complete list of the 27 industries they posted on Twitter and then be sure to read this Nairametrics.com article that explains all the incentives.


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