The Nigerian Investment Promotion Commission (NIPC) has approved the pioneer status applications of MainData Nigeria Limited and seven other companies in the first quarter of 2020 according to its report released recently.
Industries that qualify for the Pioneer Status Incentive (PSI) are given a 3-year holiday from paying company income tax for an initial period of 3 years with the possibility of an extension for 1 or 2 years.
Registered as MainData Nigeria Limited, MDX-i Data Centre is a MainOne Company registered in Nigeria. MDXi operates truly carrier-neutral facilities since launch and has harnessed MainOne’s network footprint to not only interconnect all major network providers in the region but also enable smaller ISPs and virtual network operators connect to the data centre to provide services to hosted customers.
In January 2015, MDXi launched its flagship data centre project “MDXi Lekki” with the sole purpose of developing a hub for key intercontinental connectivity while serving as the primary point for traffic aggregation in West Africa. MDXI’s Lekki data centre is currently the largest purpose built data centre in the entire West Africa.
The other seven companies given the approval-in-principle are Honeywell Flour Mills, Apple & Pear Nigeria Limited, Tranos Contracting Limited, Elvis Hotels, Medlog Nigeria Limited, Kalambina Cement Company and Wells Hosa Greenhouse Farms.
This incentive is listed in the Industrial Development (Income Tax Relief) Act, which is administratively regulated by the NIPC.
According to the report, “The companies made a total investment of N151.916 billion, have 1,460 staff and are in various sectors including agriculture, construction, administrative service, information & communication, and manufacturing. one company was granted extension for two years; the company had a total investment of N88.700 billion, while its staff strength was 573.”
39 companies are currently enjoying the PSI as of March 31, 2020
