Under the transformative leadership of Governor Godwin Obaseki, Edo State has experienced a significant economic shift, drawing several companies that have now secured Pioneer Status approval from the Nigerian Investment Promotion Commission (NIPC). These companies, operating across manufacturing, food processing, and agribusiness sectors, are poised to benefit from various incentives provided by the state and federal governments.
The NIPC’s recent report, covering the third quarter of 2023 (July to September), highlights the companies that have received this esteemed status in line with the Industrial Development (Income Tax Relief) Act and the Pioneer Status Order of 2017. This status offers tax relief and other incentives to businesses making substantial investments in sectors deemed crucial for national development.
Among the companies granted Pioneer Status is Okpella Cement Plc, a major player in cement production and related industries. Located in the Okpella region of Edo State, the company has invested a remarkable N178 billion and provides employment to approximately 570 people. Its operations, spanning cement manufacturing, limestone extraction, and plaster production, are crucial to the state’s industrial growth.
Another notable company benefiting from this initiative is Don Mac Limited, which has made an N8 billion investment in the state. The company, engaged in the manufacturing of gas cylinders, tanks, and metal containers, currently employs 175 people. Don Mac’s license extends for three years, from 2021 to 2024, positioning it as an integral player in the local manufacturing landscape.
Other companies in Edo State are in the process of applying for or finalizing their Pioneer Status. These include Saro Allied Resources and Processing Nigeria Limited, Duport Midstream Company, Greenhills Agricultural Products Limited, Dufil Prima Foods Plc, and Flour Mills Nigeria Plc. These businesses, particularly those in agribusiness, contribute to the Edo State Oil Palm Programme (ESOPP) and further strengthen the state’s position in agriculture-based industrialization.
Edo’s shift towards a manufacturing and agribusiness hub is viewed positively by local experts, such as Ikponmwosa Nosakhare, a policy analyst and lecturer at the University of Benin (UNIBEN). He noted that the state’s evolution from a primarily civil service-based economy to an industrial one offers significant benefits, including job creation and greater opportunities for university graduates. Nosakhare highlighted that this growth is not just about new jobs but also about improving the productivity of local industries, fostering innovation, and supporting education to meet the specialized labor market needs.
He further emphasized that the Pioneer Status incentive is more than a financial tool—it is a long-term strategy to stimulate local capacity building. As these companies expand, they will generate greater economic returns, which will benefit not only the companies themselves but the wider Edo State economy as well.
