Existing firms to keep tax breaks as Nigeria plans new regime
A total of 149 companies will continue to enjoy tax holidays for at least two more years, even as Nigeria prepares to implement a new tax system from January 2026. The Nigerian Investment Promotion Commission announced that these firms are protected under transitional rules in the new framework. Taiwo Oyedele, Chairman of the Presidential Tax Reform Committee, emphasized that this move aims to maintain investor confidence during the transition. The Pioneer Status Incentive has attracted significant investments and job creation since 2017.
TLDR
- 149 companies with pioneer status will retain tax holidays for at least two years beyond January 2026, per the Federal Government.
- The Pioneer Status Incentive has brought in about N8.7tn in investments and created nearly 59,000 jobs since 2017.
- Out of 693 applications since 2017, 304 were granted, 64 denied, and only one certificate cancelled; 149 firms are current beneficiaries.
- The new tax law will phase out the current incentive, replacing it with a tax credit-based system tied to capital reinvestment.
- Aisha Rimi of the NIPC reported over $10bn in investment commitments in 2025, with capital importation rising sharply year-on-year.
