The Nigerian Investment Promotion Commission (NIPC) has said its Pioneer Status Incentive (PSI) attracted N386 billion and grants qualifying companies a tax holiday of three to five years, exempting them from paying corporate income tax during that period.

Its Head of Incentives Administration Unit, Mrs. Lovina Kayode, who disclosed this during a media parley in Abuja, stated that the N386 billion is from 37 companies.

The Commission has reiterated its commitment to driving economic growth by expanding investment opportunities and securing new partnerships.

The Executive Secretary, NIPC, Aisha Rimi, explained that these initiatives align with President Bola Tinubu’s Eight-Point Agenda, as the commission is completely involved in fostering a business-friendly environment.