Business
NIPC Grants ‘Pioneer Status Incentives’ To 10 Nigerian Coys
The Nigerian Investment Promotion Commission (NIPC), said it granted approval for ‘Pioneer Status Incentive’ (PSI) to 10 Nigerian companies in the second quarter of 2019.
The NIPC second quarter report issued in Abuja last Thursday said that 24 new applications were received, while no applications for extension were received for the PSI processed between April 1 and June 30, 2019.
The PSI is a scheme which grants fiscal incentives to companies operating in certain sectors of the economy pursuant to the Industrial Development (Income Tax Relief) Act and it is administratively regulated by the NIPC.
The report said that 10 applications were granted approvals in principle.
It said that the 10 companies had total investments of about N100 billion, while their staff strength was 1,526.
The report said that the agric/agro allied sector accounted for 50 per cent of the approvals, while manufacturing sector was 40 per cent.
“Two companies were granted extensions for two years, with a total investment of N312 billion and staff strength of 267,’’ it said.
The report further revealed that three companies were granted PSI with confirmed production dates.
The report said that 15 applications were not approved, while 24 companies were still enjoying PSI as at June, 30 2019.
The NIPC report said that 104 applications were classified as abandoned during the period under review.
“These are applications in respect of which NIPC has not received any response to requests made for additional information in over 12 months.
“About 181applications were pending in the reporting period,’’ it said.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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