Incentives
Under the leadership of His Excellency, Alhaji Mohammed Umaru Bago, the Niger State Government is committed to attracting investors.
The Governor has introduced enticing incentives designed not only to support pioneer investors but also to significantly boost their return on investment (ROI) within the first 3 to 5 years of operation.
The six selected investment incentives include:
1. Pioneer status incentive
• For companies in industries recognised as ‘Pioneer’
• Allows a company income tax holiday for 3-5 years
• Dividends also exempt from tax
2. Deduction for research and development
• For companies undertaking R & D activities for commercialization
• Allows 20% investment tax credit on qualifying expenditures
3. Exemption from minimum tax
• Aside companies engaged in agricultural trade, other companies that meet minimum eligibility criteria as stated in Section 33 of CITA are exempted from minimum corporate income tax
4. Import duty concession
• 0% import duty for machinery meant for agriculture and agricultural processing, power generation and distribution, aviation services and selected manufacturing activities.
5. Export expansion grant
• Post shipment incentives for non-oil exports
• Qualifying exports must fully repatriate proceeds within 300 days
6. Special economic zones incentive
• 100% capital allowance
• Rent-free land during construction
• Full holiday from federal, state and local government taxes
• Unlimited sale of product within the customs territory