Federal Government grants ‘Pioneer Status’ to Nigerian creative industry

The Federal Government has granted 'Pioneer Status' to the Nigerian creative industry. The 'Pioneer Status' is granted to companies making investments in qualifying industries and products and comes along with tax holidays 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 ‘Status’ 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).

• Type:

  • Promotion and facilitation (Investment incentives)

• Industry:

  • Services (Arts, entertainment and recreation)

• Sources:

  • Informationng.com, FG Grants Tax Holiday To Entertainers in the creative industry, http://www.informationng.com/2017/08/fg-grants-tax-holiday-entertainers-creative-industry.html, 04 Aug 2017
  • Pulse News Agency, Lai Mohammed FG grants 'Pioneer Status' to creative industry, http://www.pulse.ng/local/lai-mohammed-fg-grants-pioneer-status-to-creative-industry-id7092149.html#, 03 Aug 2017