Nigerian govt announces 27 industries to enjoy tax break under pioneer status (FULL LIST)

A Cocoa Plantation [PHOTO: nirp.icirnigeria.org]
A Cocoa Plantation [PHOTO: nirp.icirnigeria.org]

The federal government on Monday released the full list of the 27 key industries and products included in the revised list of ‘pioneer status’ incentives for prospective investors.

At the end of the meeting of the Executive Council of the Federation, FEC, last week, the Minister of Industry, Trade and Investment, Okechukwu Enelamah, disclosed the approval given to the 27 industries.

Mr. Enelamah did not, however, list the 27 industries.

The Minister of Information and Culture, Lai Mohammed, later confirmed that the creative industry was among the 27.

Earlier, the trade and investment ministry announced the lifting of the administrative suspension on processing pioneer status incentives, PSI, applications for prospective investors in the country.

Some of the benefits of the pioneer status include tax relief, mainly for corporate income tax.

Here is the full list of the 27 industries to enjoy the pioneer status.

  1. Mining and processing of coal;
  2. Processing and preservation of meat/poultry and production of meat/poultry products;
  3. Manufacture of starches and starch products;
  4. Processing of cocoa;
  5. Manufacture of animal feeds;
  6. Tanning and dressing of Leather;
  7. Manufacture of leather footwear, luggage and handbags;
  8. Manufacture of household and personal hygiene paper products;
  9. Manufacture of paints, vanishes and printing ink;
  10. Manufacture of plastic products (builders’ plastic ware) and moulds;
  11. Manufacture of batteries and accumulators;
  12. Manufacture of steam generators;
  13.  Manufacture of railway locomotives, wagons and rolling stock;
  14. Manufacture of metal-forming machinery and machine tools;
  15. Manufacture of machinery for metallurgy;
  16. Manufacture of machinery for food and beverage processing;
  17. Manufacture of machinery for textile, apparel and leather production;
  18. Manufacture of machinery for paper and paperboard production;
  19. Manufacture of plastics and rubber machinery;
  20. Waste treatment, disposal and material recovery;
  21.  E-commerce services;
  22. Software development and publishing;
  23. Motion picture, video and television programme production, distribution, exhibition and photography;
  24. Music production, publishing and distribution;
  25. Real estate investment vehicles under the Investments and Securities Act;
  26.  Mortgage backed securities under the Investments and Securities Act; and
  27. Business process outsourcing.

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  • Rommel

    This administration is indeed ready to do business, with tax breaks in these industries, we hope people will become interested in cottage industries, let those animals who have hidden stolen public funds outside the country bring them back so that people can use it to create wealth for everybody, enough of the stupidity.More grease to the elbows of this administration,long live the federal republic of Nigeria.

    • Stephen

      Am glad reading from progressive minded people like you.

  • deji 3SC (Up shooting)

    Thank God for change. Nigeria shall be great!

  • thusspokez

    Some of the benefits of the pioneer status include tax relief, mainly for corporate income tax

    This is the way to go to boost investment and economic activities. In addition to tax relief, the government — in collaboration with these industries — can also help with in-work training courses and workshops to improve the skills of the workers.

    Let these investors earn their reward through their own success by generating enough income to earn the tax relief. What the federal government must not do is give even one kobo in cash payment to any industries. Doing so, will — like moth to bright lights — attract crooked Nigerian politicians and their cronies to set up fake companies to receive the handouts without contributing anything to the economy.

  • El Patron

    This is a very welcome development. Could have come much earlier but all the same a stitch in time saves nine

  • thusspokez

    The Minister of Information and Culture, Lai Mohammed, later confirmed that the creative industry was among the 27.

    It took Lai Mohammed two [repeat:2] years to find out what his job as Minister of Information and Culture entails.

    For two years, he had no clue! He thought information meant propaganda. So he continued being the APC propaganda chief whilst all along being paid by the Nigerian tax payer.

    In the two years, he didn’t know that part of his job was to promote Nigerian arts, music, theatre and movies. There is no news report of him even talking about them. And I doubt if he ever went to the theatre, drama or cinema to watch a play or movie.

    But somehow Lai Mohammed seems to have had his ‘Road-to-Damascus’ moment. Even then he first step ended in sticky mud. Everyone remembers his characteristically Nigerian threat to ban all Nigerian movie production abroad. Anyway, it is nice to hear Lai Mohammed reassuring the creative industry that their bread too has been buttered-o!

    And I hope that the creative industry don’t forget to sent Mrs. Mohammed and her husband Lai, invitations and two tickets to the best seats in the house for the couple to watch their new plays, movies or concerts, there!

    • Stephen

      Stop saying rubbish just bcos you hate the man, if you don’t have TV to watch, didn’t you read it from print media that the first place visited by Lai Mohammed as a minister was national theater in Lagos and many other places, he has held several meetings with stakeholders in film industry, since assumption as minister he has been speaking on creative industry which took him to Innoson Motors manufacturing plant in Nnewi, he held a Creative Industry Roundtable with members of COSON n Lagos.,he kick start the establishment of one million-dollar venture capital to boost the creative Industry, all these within 2yrs, What has your otueke brother and his girlfriend diazane did for 6yrs? Looted the treasure.

      • thusspokez

        Stop saying rubbish just bcos you hate the man

        Some of you Nigerians have a habit of starting your comment in an idíotic manner and make ridiculous assumptions about other commenters. BTW, I don’t like any Nigerian politicians — living or dead. But saying that you don’t like someone doesn’t mean you hate that person.

        If you follow my comments on this and other Nigerian websites, since 2015, I have commenting, asking why Lai is paid by the Nigerian tax payer and yet playing the role of the propaganda chief of the APC — I should also inform you that I despise all Nigerian political parties. In the aforementioned comments I often reminded readers what Lai should be doing, namely, promoting Nigeria, its arts, cultures, music and helping showcase them to attract tourism and business.

        I am not petty, tribal, religious or a carrier of primitive mindset as many of are, so don’t assume that everyone is like you.

        What has your otueke brother and his girlfriend diazane did for 6yrs? Looted the treasure.

        My brother and his sister? I have come to believe that something is not right mentally with a lot of you. You need to be sentenced to a gulag — maybe not a gulag but a re-orientation camp in the sahara where you would undergo a 2-3 years of re-orientation to cure your rotten mindset and corrupt outlook.

        I am not sure that most of you are aware of how sick some of you are. Those of us who read your comments from far away land can see it in your comments. Or maybe you are just natural born stúpid!

  • princegab

    Good ideas but security and lack of electricity are militating.

    • Iyanda

      Very well said. We need to overhaul our internal security apparatus. It has failed. A complete overhaul is the solution.

  • TDaniels2

    Pretty much all sectors of the economy have been accord “pioneer status”, only traditional sectors left out. Policy does need rethinking. Good intention but poor articulation!

  • bigbang

    That is just the FG taxes right? This won’t affect state levies and fees?

  • Pete

    Why isn’t automobile assemly/manufacturing included in the list?
    Is this government really determined to kill that sector that was beginning to return to life during President Jonathan’s tenure?

    • Good citizen

      Automobile assembly/manufacturing is all ready in the existing list, these are new additional.