Edo Refinery, Dufil Prima Foods to Deepen N205bn Manufacturing Investment

In the wake of reforms by the Governor Godwin Obaseki-led administration, top manufacturers in Edo State, including Dufil Prima Foods, Edo Refinery and Don Mac Limited have secured pioneer status incentives to deepen their investment worth over N205bn in Edo State.

The Obaseki-led government in the last seven years have pursued a robust investment promotion playbook which has attracted a number of manufacturing concerns to the State, boosting productivity and expanding the industrial base of the State.

The manufacturers secured the incentives from the Nigerian Investment Promotion Commission (NIPC) to enjoy waivers to expand their operations.

In a release on the status of the Pioneer Status Incentives Application for Quarter One, January to March, (2024), six companies in Edo State were listed on the longlist of companies with active applications.

According to NIPC: “In compliance with the requirements of the Industrial Development (Income Tax Relief) Act Cap I7, Laws of the Federation of Nigeria 2004 and the Pioneer Status (Delegation of Certain Statutory Functions) Order of 2017, Nigerian Investment Promotion Commission (NIPC) is pleased to provide details of Pioneer Status Incentive (PSI) applications processed between 01 January and 31 March 2024.”

The latest approved application was for Dufil Prima Foods Plc which was approved for a period of three years from 01/01/2024 to 31/12/2016. The company, with 269 staff members, is involved in the manufacture of grain mill products and pure cassava flour. The investment is valued at N13 billion.