Investor Presentaiton

Selection of investment incentives in Nigeria INVESTMENT NIGERIAN IN 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 Deduction for research and development • For companies undertaking R&D activities for commercialization • Allows 20% investment tax credit on qualifying expenditures Rural investment allowance . For companies >20km from government facilities who incur capex for providing electricity, water, tarred roads, etc for the purpose of a trade or business • Allowance rates: •100%: no facilities, 50%: no electricity, 30%: no water, 15%: no tarred road Investment tax relief Similar to rural investment allowance, but only available for 3 years max for companies who have not enjoyed pioneer status Export expansion grant ⚫Post-shipment incentive for non-oil exports • Qualifying exports must fully repatriate proceeds within 300 days Export processing zones incentives • 100% capital allowance • Rent-free land during construction • Full holiday from federal, state and local government taxes Source: Compendium of Investment Incentives in Nigeria 16 COMMISSION PROMO

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