The
Federal Government has granted Pioneer Status to the creative industry
in a landmark move aimed at transforming the industry to a creative economy and
creating jobs.
The Minister of Information and
Culture, Lai Mohammed, disclosed this in a statement issued yesterday in Abuja. According to Mohammed, the decision to grant the industry pioneer status is in fulfillment of the promise made by the Acting President, Prof. Yemi Osinbajo.
He said that pioneer status was granted to companies that made investments in creative industries and products, adding that pioneer status meant the companies would enjoy a tax holiday from corporate income tax payments and withholding tax on dividend from pioneer profits for an initial period of three years.
Mohammed assured that the government would do more for the industry to allow the creative talents of the youth to blossom, create jobs and position the country as a global hub for creativity.
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