GRANTS AND INCENTIVES

GRANTS AND INCENTIVES: INCENTIVES GRANTED TO MANUFACTURERS THROUGH THE INITIATIVE OF MAN

MAN played a key role in ensuring Government‘s granting of the following concessions

  • Granting of additional 30% tax relief to companies that incur expenditure on infrastructure or facilities of a public nature such as power (electricity), roads and bridges, water, health, education and sporting facilities
  • Granting of Employment Tax Relief to companies with a minimum net employment of 10 employees of which 60 per cent are employees without any form of work experience within 3 years of graduation from school. Similarly, granting of Work Experience Acquisition Programme Relief to companies with a minimum net employment of 5 employees, retained for a minimum of 2 years
  • The resuscitation of the Export Expansion Grant (EEG) with very important modifications
  • Approval by the Standards Organisation of Nigeria (SON) of 0.15mm as against the initial 0.2mm as the minimum standard gauge for galvanised roofing sheets to enable locally manufactured roofing sheets compete effectively with imports, as well as approval of SONCAP exemption permit and preferential treatment for local manufacturers.
  • Resumption of payment of the backlog of unpaid Export Expansion Grant (EEG) due to exporters from 2006 to 2012
  • Acceptance of MAN’s position that all Government concessions, waivers and tariff amendments, where considered necessary as a strategic economic tool, should have sector-wide applications as against individual companies’ application.

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