JUST IN: Nigeria grants tax break to music, movie producers, others in creative industry

Minister of Information and Culture, Lai Mohammed [Photo Credit: The Guardian Nigeria]
Minister of Information and Culture, Lai Mohammed [Photo Credit: The Guardian Nigeria]

The federal government has granted ‘Pioneer Status’ to the creative industry, in a landmark move aimed at transforming the industry to a creative economy and creating jobs.

In a statement issued in Abuja on Thursday, the Minister of Information and Culture, Lai Mohammed, said the decision to grant the industry ‘Pioneer Status’ is in fulfilment of the promise made by the Acting President, Yemi Osinbajo, represented by the Minister of Finance, Kemi Adeosun, at the opening of the Creative Industry Financing Conference in Lagos 17-18 July 2017.

The ‘Pioneer Status’ is granted to companies making investments in qualifying industries and products as tax holiday from the payment of corporate income tax and withholding tax on dividend from pioneer profits for an initial period of three years, extendable for one or two additional years.

The ‘Pioneer Status’ for the Creative Industry covers music production, publishing and distribution (including online digital distribution); Photography; Production and post-production of digital content for motion pictures, videos, television programmes, commercials, distribution and exhibition (digital movies, animation, videos, tv programmes and commercials); Publishing of books (copyrighted books) and development and Publishing of ready-made software (operating systems, software applications and computer
games).

”This is a shot in the arm for the Creative Industry, and it will definitely catalyse investments in the industry. It is also the answer to our quest to spur the establishment of world class studios in Nigeria for production and post-production of movies and music videos,” the minister said.

He said the need to grant ‘Pioneer Status’ to the creative industry as well as tackle the piracy of creative works were among the key issues raised by participants at the Creative Industry Financing Conference.

”It is a measure of the increasing importance attached to the industry by the federal government that these issues are now being handled with utmost urgency. First, the ‘Pioneer Status’ has been granted within three weeks of the conclusion of the conference. Secondly, an Anti-Piracy Committee, comprising representatives of the Federal Ministry of Information and Culture, industry stakeholders and the police, has been set up to work out the modality for tackling piracy in a lasting and sustainable manner,” Mr. Mohammed said.

He thanked the stakeholders in the creative industry for supporting the federal government in its efforts that have succeeded in putting the industry in the front burner of the economy and made it a key plank of the government’s economic diversification policy.

”We are determined to do more for the creative industry in order to allow the creative talents of our youths to blossom, create massive jobs and position Nigeria as a global hub for the industry,” the minister said.


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  • Real Metrics

    Premium Times Editor,

    Of Buhari’s directionless form of government, let fools contend

    What’s happened in the wake of Muhamadu Buhari’s election is un-educated
    and inartful governance on the fly; close to ignorance, and un-inspired by either
    knowledge or full or organized thinking on any aspect of national economics,
    law and order or planning – but instead a rather confused government scuppered
    by nepotism a first and later on scuttled by Islamist bias which emphasizes Koranic
    verses at the expense of social scientific knowledge of public administration.

    The effect of that ignorance and bias is a staggering 28 million un-employed
    youths now roaming Nigerian streets
    hungry like predators forced to live by
    plunder or murder.

    Nigeria is not mired in deepening recession for lack of three-year tax
    holiday to private companies, but the country was instead pushed into crushing
    recession by President Buhari’s government’s mostly ignorant wrong-headed
    policies without any discernible priorities. The effect of that ongoing and driftless
    presidential roam is that Nigeria’s economy shrank last year and for the first
    time in 25 years. A tax-holiday to 27 private companies presently in doldrums
    is surely not the solution.

    • Clichés

      “The Federal Government on Thursday Promised to give tax holidays to miners of seven minerals in the country. Kayode Fayemi, the Minister of Mines and Steel Development, made the promise at a stakeholders meeting of
      the Association of Miners Processors of Barite, AMAPOB, and Tse Torkula Community in Guma Local
      Government Area of Benue State.

      Mr. Fayemi said that out the 40 solid minerals in the country, the federal government was concentrating on seven minerals for full exploration. As a country, we have the best tax holidays worldwide, all miners have three years
      tax holidays from the government. “Again, out of the 40 minerals in the country, we selected seven strategic
      ones for concentration. The minerals are limestone, barytes, iron, bitumen lead and zinc. “We also have
      duty free on all mining equipment,’ he said.”

      …………..PREMIUM TIMES

      (April 6th, 2017)

      • Edimondo777

        Dr. Pat K. Awosan:

        A local tomato paste manufacturing plant – ERISCO FOOD – closed down in
        November 2016 and sacked thousands of workers. Erisco food ran on generators
        and it could not compete with Chinese exporters of tomato paste selling at less unit
        price per tin. In January this year, DANGOTE also closed down its tomato paste
        processing plant in Kano as impossible to run. Aliko Dangote, still reputed as
        Africa’s richest man, said his firm couldn’t access foreign exchange to buy
        production inputs.

        Nowadays, the masses
        in northern Nigeria are stoning politicians on sight and wounding quite a few in
        revolutionary anger, besides kidnapping the wives and mothers of politicians. As
        poverty deepens under the Buhari daft government, more emergency wards will be
        needed for injured politicians. A revolution is brewing in Nigeria where wealth
        has a bad odour as the proof of theft, and, of insane treasury looting. Stealing
        is the problem with Nigeria – where the country’s government officials are
        wholly smelly thieves and criminals. Foreign analysts project there’ll soon be
        targeted assassinations of these rogue politicians and their families in
        Nigeria on current metrics.

        • Spyman29

          Where did you get your news of about Eriscco Food . Eriscco Food is still in full operation as I write

          • progressive

            Don’t mind those e goats they dont have common sense they are just been deceived by their pdp e rats who thinks they can continue to use the media to perpetrate their evil acts.

          • woman leader1

            Don’t mind him

        • progressive

          The reason why some company close down was due to corruption during Jonathan era buhari have been able to stop those who thinks they are bigger than the country

        • Night Crawler

          If pdp misrule for over 16 years was able to stable power supply, Nigeria won’t be in this situation, that is the answer to your trash you posted above

        • front man

          Pdp mismanaged the resources that was supposed to stable electricity any others

        • woman leader1

          Be reasonable

      • progressive

        Kudos to buhari administration he has achieved alot since when he came on board.

        • woman leader1

          He has done what the previous government failed to do for sixteen solid years in just two years.

    • progressive

      Those who have gone against what the Fg have put on board should have a rethink because we all belong to one country so this is a good development .

    • Night Crawler

      Your write up or copy and paste is trash, maybe your brain is in reverse gear

    • front man

      Trash

    • woman leader1

      Nonsense comment.

  • Dr Pat Kolawole Awosan

    This initiative of non-tax policy will go a long way to assist the music and movies industries to grow.But, there are some vicious-satanic elements in this forum that whatever president Muhammadu Buhari, does would not appear good in the heart of satanic elements in some regions in Nigeria.
    @Real Metrics:What is wrong with your dementia, suffering brain? Are you really sane or hallucinating? Anything done by Nigeria government led by president Muhammadu Buhari, to you is negative because, your corruption advancing ethnic hero-GEJ. was defeated by president Muhammadu Buhari.Nigeria, is picking up and moving forward whether your ilk like it or not.

    • progressive

      Whatever bad plans they have against this administration they will surely fail because buhari has made alot of impacts since when he has resume office.

    • Night Crawler

      You have raised a valid point, and please kindly ignore him because he has lost his sense of reasoning

      • front man

        Correct

    • woman leader1

      We are moving forward

  • Spyman29

    This is a welcome development. More of this is needed in other sectors of the economy

    • NoSpinEd

      Aviation?

    • progressive

      Yes oo HMIC have played a good role.

    • Night Crawler

      Well said, we will get there sooner than later Nigeria will surely be great again

    • front man

      Kudos to HMIC

    • woman leader1

      Yes ooo

  • FirecloudOFGOD

    Lai, Silly!
    Anyway, Who pays tax in Nigeria?

    • progressive

      I know that during Jonathan era tax was been evaded that was why there was so corruption in the country.

      • FirecloudOFGOD

        Illogical reasoning! You make no sense!

    • Night Crawler

      The company you work for do, and its removed from your salary, only if you don’t work and you are an online strolls and e-rats then you will evade tax

      • FirecloudOFGOD

        Crawl back to your dark nights!“Night crawler”!

    • SpeakOut

      You do pay tax yourself, the company you work for do pay tax for you on your behave, they deduct it from your account.

      • front man

        Ignore him

      • woman leader1

        What does he know.

        • Olatubosun

          Nothing

      • Olatubosun

        The guy is crazy

    • front man

      Ask Google

      • Olatubosun

        Better

      • FirecloudOFGOD

        Go back to school!
        Invade tax or evade?
        If you have no income, which is most likely, it is understandable!
        Google is a search engine my friend!

    • woman leader1

      Stop criticizing and join the movement before you will be left out.

      • FirecloudOFGOD

        You are going backward! I rather get off and move with the times!

    • Olatubosun

      You are sick…you are nothing but a satanic device

      • FirecloudOFGOD

        Who is not sick in Nigeria?
        Are you not sick of all the lies of this and past governments?
        Are you not sick and tired of the poor economic state of Nigeria?
        Are you not sick of the rampant corruption in Nigeria?

        If you are not sick of these things then you are part of the problem in Nigeria!

  • progressive

    The piracy must be tackled whether they like it or not alot have gone wrong in the past if not for the minister of information who have been able to come up with a good ideas to curb piracy in the country.

    • Night Crawler

      You are right, piracy will soon be a thing of the past, everyone in creative industry can now smile to the bank after a successful work

      • Olatubosun

        Yes o

    • front man

      Sure I believe in this present administration

    • woman leader1

      The time is now to end piracy.

    • Olatubosun

      Sure…you are correct

  • Night Crawler

    This is a good news to those in the industry, and it will go a long way in the lives of many Nigerians and also help create job, kudos to Alh Lai Mohammed for a job well done

    • front man

      Well said

    • Olatubosun

      Yes o…
      This administration makes us enjoy the true democracy…
      God bless Nigeria

  • Night Crawler

    FG are committed in creating jobs for her citizens, this is one of the avenue to help create jobs, I urge every one in the creative industry to join hands and help move the industry forward, Nigeria will surely be great again

    • front man

      You have spoken well

    • woman leader1

      Obviously, we are surely heading to greatness.

    • Olatubosun

      You are correct

    • stackCrawler

      Yes. That’s what this administration is all about; forward ever

  • front man

    This is Good, it will create a job opportunity for youths

    • stackCrawler

      Surely

  • front man

    This is why I like this present administration, fulfilling promises is one of their utmost priority

    • stackCrawler

      Gbam

  • front man

    Good job God bless HMIC
    God bless Nigeria

    • stackCrawler

      HMIC all the way

  • front man

    I will continue to support this present administration

    • Olatubosun

      Yes o… This administration really is doing a great job

      • stackCrawler

        I completely agree with you on that

  • woman leader1

    This government is for the people and not like the previous government that is for their pocket

    • Olatubosun

      Useless previous administration that siphoned our money……..

    • stackCrawler

      Sure thing

  • woman leader1

    Honourable minister for information and culture Alhaji Lai Muhammad is the man we want, he speaks the voice of the people, well done sir for doing a wonderful job always.

    • Olatubosun

      He is a great man….
      Ameen

      • stackCrawler

        Gbam

      • stackCrawler

        Nasoo

    • VICTOR TERHEMBA

      LOOL…. ARE YOU KIDDING ME?

      • dele20

        Continue kidding yourself, HMIC is really the voice of the masses

        • stackCrawler

          Gbam

    • dele20

      You are right

      • stackCrawler

        Very right

    • stackCrawler

      That’s the way

  • Olatubosun

    Alhaji Lai Mohammed we really appreciate you for being mouth piece of the nation

    • stackCrawler

      Gbam( well said

  • Olatubosun

    Alhaji Lai Mohammed God will continue to bless you sir……

    • stackCrawler

      I agree

  • Olatubosun

    This administration makes us enjoy the dividend of democracy…. God bless Nigeria and God bless buhari and his cabinets

    • stackCrawler

      Alh Lai Mohammed, all the way

  • Olatubosun

    This initiative will reduce unemployment in the country..
    Change begins with me

    • stackCrawler

      Gbsm

  • dele20

    This a good innovation, kudos to our minister for information

    • stackCrawler

      Big kudos to HMIC

  • dele20

    This will speed up investment in the industry

    • stackCrawler

      Gbam

  • LagosBoy

    This is called “Job Well Done”…
    This is a move in the right direction..
    Well done HMIC
    God bless Nigeria and God bless us all

    • stackCrawler

      Well said