A Joint Committee of staff of the Nigerian Investment Promotion Commission (NIPC) and Federal Inland Revenue Service (FIRS) on Pioneer Status Incentive (PSI) was inaugurated on Friday, 5 March 2021 at the NIPC Head Office, Abuja.
The Committee was set up to review the current guidelines for administration of the PSI, validate the cost of the incentive to Nigeria and recommend changes to the qualification and administration.
Commenting, NIPC’s Executive Secretary/CEO, Ms Yewande Sadiku stated that the Commission understands the responsibility it shoulders in relation to administering the PSI and exercises great diligence in processing applications.
On his part, the Executive Chairman, FIRS, Mr. Muhammad Nami encouraged members of the Committee to invest their energy into the exercise as it is a means to assist the government to achieve an enabling business environment, bearing in mind the responsibility of government to fund budgetary needs.
The Joint Committee is expected to complete its assignment within 3 months.