The Obaseki-led government in the last seven years have
pursued a robust investment promotion playbook which has attracted a number of
manufacturing concerns to the State, boosting productivity and expanding the
industrial base of the State.
The manufacturers secured the incentives from the Nigerian
Investment Promotion Commission (NIPC) to enjoy waivers to expand their
operations.
In a release on the status of the Pioneer Status Incentives
Application for Quarter One, January to March, (2024), six companies in Edo
State were listed on the longlist of companies with active applications.
According to NIPC: “In compliance with the requirements of
the Industrial Development (Income Tax Relief) Act Cap I7, Laws of the
Federation of Nigeria 2004 and the Pioneer Status (Delegation of Certain
Statutory Functions) Order of 2017, Nigerian Investment Promotion Commission
(NIPC) is pleased to provide details of Pioneer Status Incentive (PSI)
applications processed between 01 January and 31 March 2024.”
The latest approved application was for Dufil Prima Foods
Plc which was approved for a period of three years from 01/01/2024 to
31/12/2016. The company, with 269 staff members, is involved in the manufacture
of grain mill products and pure cassava flour. The investment is valued at N13
billion.