Nigeria In One Minute
Abuja Chamber of Commerce warns against abuse of tax holiday
The Abuja Chamber of Commerce and Industry on Tuesday said the lifting of administrative suspension on Pioneer Status Incentives by the Federal Government would boost local production capacity of manufacturers.
The President, ACCI, Mr. Tony Ejinkeonye, said this in an interview with Punch correspondent.
Pioneer status is a tax holiday granted qualified or eligible industries anywhere in Nigeria.
The Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, on Monday announced that 27 industries would benefit from the tax holiday.
Reacting to the development, Ejinkeonye told Punch correspondent that the lifting of the suspension would increase productivity as well as stimulate the much-needed investments in the private sector.
He, however, warned that the government should put adequate measures in place to check any form of abuse that would threaten the successful implementation of the scheme.
PUNCH, August 9, 2017
RipplesNigeria ….without borders, without fears
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: In Kwara, multimillion-naira milk processing plant is abandoned, converted to a chicken outlet
After the government spent millions of naira to establish a milk processing plant in Kwara State that would provided jobs...
SPECIAL REPORT: For Sokoto communities, promise of healthcare is akin to death sentence
In this story, ABDULRASHEED HAMMAD delves into the dire realities of Primary Health Care services in Sokoto State, shedding light...
ICYMI…SPECIAL REPORT: NNPCL hides behind PIA to frustrate disclosure, accountability
Nigeria’s major oil company, Nigerian National Petroleum Corporation Limited (NNPCL), in what appears to be a common practice of disregard...
INVESTIGATION: Multi-million naira Ekiti resort center remains uncompleted a decade after
The multimillion-naira project, expected to comprise recreational buildings, now consists of cassava farmland, a bush used for excretion, and a...
SPECIAL REPORT: Torturous experiences of students with disabilities in Oyo tertiary institutions
For students with disabilities in Oyo state-owned tertiary institutions, learning is a torturous and distressing experience, considering the building structures...