107 Companies Benefit From FG’s Tax Exemption Scheme: Full List

107 Companies Benefit From FG’s Tax Exemption Scheme: Full List

A recent report by the Nigerian Investment Promotion Commission (NIPC) has revealed that approximately 107 companies are currently enjoying the benefits of the federal government’s tax exemption initiative known as the Pioneer Status Incentive (PSI) scheme for the fourth quarter of 2023……READ ALSO FG, States, FCT Now Owe N33.107trn By Q1 ―DMO

This scheme, aimed at spurring economic growth by incentivizing investments across various sectors, offers a tax holiday to eligible industries, granting them a three-year exemption from corporate income tax, with the possibility of extension for one or two additional years.

The NIPC report highlights a significant increase in the number of beneficiaries, rising from 83 in the first quarter of 2023 to 107 by the end of the fourth quarter. These companies have collectively invested over N2.49 trillion throughout the year, demonstrating the substantial impact of the PSI on the Nigerian economy.

The sectors benefiting from this tax holiday span a wide range, including manufacturing, solid materials, pharmaceuticals, information and communication technology, trade, construction, waste management, electricity and gas supply, tourism, hotel development, agriculture, and more.

Among the notable companies benefiting from the tax exemption are:

1. Dangote Fertilizers
2. Mikano International Limited
3. Sinotrucks West Africa Limited
4. West African Cubes Limited
5. Jigawa Rice Limited
6. JMG Nigeria Limited
7. Rain Oil Limited
8. Okpella Cement Plc
9. Greenville Liquified Natural Gas Company Limited
10. GZ Transport and Logistics Nigeria Limited
11. African Foundries Limited
12. Royal Pacific Group Limited
13. Kunoch Hotels Limited
14. Princess Medi Clinics Nigeria Limited
15. Medlog Logistics Limited
16. Masters Liquefied Gas Company Limited
17. Aarti Rolling Mills Limited
18. Von Automobile Nigeria Limited
19. Ikorodu Steel Mills Limited
20. Confluence Metals Fabrication Company Limited
21. Cormart Nigeria Limited
22. Tiamin Rice Limited
23. Outsource Global Technologies Limited
24. Crown Flour Mills Limited
25. Elvis Hotels Nigeria Limited
26. Olam Hatcheries Limited

And many others.

The extension of benefits to these companies reflects the federal government’s commitment to enhancing Nigeria’s investment climate and supporting the growth of diverse economic sectors through fiscal incentives.

Join our channel for more latest news https://whatsapp.com/channel/0029VaV4jB6DuMRgwqnJCF32