Investors with interests in agro production and processing as compliant with the Nigerian Investment Promotion Commission will enjoy incentives like:

  • Tax credit for 5 years for all production and processing businesses (see Pioneer Status section)
  • Zero tax in agriculture loans with moratorium period of over 18 months and repayment period of over 7 years
  • Zero import duty on machines and equipment No capital allowance restrictions
    No payment of minimum tax
  • Up to 75% guarantee for loans granted by commercial banks for agro processing and production as stipulated under the Agricultural Credit Guarantee Scheme Fund


  • 3-7 tax holiday for eligible industries
  • Tax free dividends paid during the tax holiday
  • Capital allowances and tax losses
  • A total of 71 industries are under the pioneer scheme 50 of which fall into the key focus sectors for Ondo State.


  • One-off full waiver on Personal Income Tax payable by the Company’s Director.
  • Full waiver on Company and Director development levy respectively at registration with ODIRS.
  • Time-dependent full waiver on LUC payment prescribed by Ondo State Land Use Charge Act on the property of the Director and Business premise(s).
  • Time-dependent full waiver on business/trade operating fee payable by the Business.


  • The Federal Government on 25 January 2019 established a ten-year Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme (“the Scheme”)
  • The Scheme was set-up as a public-private intervention that enables the Federal Government to leverage private sector capital and efficiency for the construction, refurbishment and maintenance of critical road infrastructure in key economic areas in Nigeria.
  • Participants under the Scheme will be entitled to utilize the project cost incurred in the construction or refurbishment of an eligible road as a tax credit against their income tax liability, until full cost recovery is achieved.
  • The Scheme also provides an incentive to participants by granting a single non-taxable uplift on project cost. The uplift, which is a percentage of the project cost (MPR+2%), will be included in the total tax credit available to each participant.


  • No requirement for import or export licences in the FTZ.
  • Full remittance of profits earned by foreign investors
  • Exemption from all taxes, levies and rates.
  • Duty free import of equipment and machinery, raw materials components and spare parts
  • Repatriation of foreign capital investment at any time with capital appreciation of the investment


  • Foreign and local Investors wishing to establish in the state and sourcing their raw materials locally shall be allowed instalment payments of the cost of Certificate of Occupancy and will be exempted from all rates for a period of three years after commissioning.
  • Provision of advisory and counselling services on investment opportunities, sources of plant and machinery and raw materials to prospective investors.
  • Investment counselling on sources of plant and machinery and raw materials to prospective investors.
  • Provision of soft loans to small industrialists and SMEs through Ondo State Micro-Credit Agency (OSMA)
  • Industrial estates provided with infrastructural facilities to enable investors cut down cost.
  • Easy access to Certificate of Occupancy for required land.
  • Application for letters of consent to assign property on the state industrial estate to be processed free of charge.
Investment House, Alagbaka, Akure, Ondo State

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