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| Minister of Information and Culture, Alhaji Lai Mohammed |
The federal government has granted ‘Pioneer Status’ to the
Creative Industry, in a landmark move aimed at transforming the industry to a
creative economy and creating jobs.
In a statement issued in Abuja on Thursday, the minister of
information and culture, Alhaji Lai Mohammed, said the decision to grant the
industry ‘Pioneer Status’ is in fulfilment of the promise made by the Acting
President, Prof. Yemi Osinbajo, represented by the minister of finance, Mrs.
Kemi Adeosun, at the opening of the Creative Industry Financing Conference in
Lagos on July 17 and July 18, 2017.
The ‘Pioneer Status’ is granted to companies making
investments in qualifying industries and products as tax holiday from the
payment of corporate income tax and withholding tax on dividend from pioneer
profits for an initial period of three years, extendable for one or two additional
years.
The ‘Pioneer Status’ for the Creative Industry covers music
production, publishing and distribution (including online digital
distribution); Photography; Production and post-production of digital content
for motion pictures, videos, television programmes, commercials, distribution
and exhibition (digital movies, animation, videos, tv programmes and
commercials); Publishing of books (copyrighted books) and development and
Publishing of ready-made software (operating systems, software applications and
computer games).
”This is a shot in the arm for the Creative Industry, and it
will definitely catalyze investments in the industry. It is also the answer to
our quest to spur the establishment of world class studios in Nigeria for
production and post-production of movies and music videos,” the Minister said.
He said the need to grant ‘Pioneer Status’ to the Creative
Industry as well as tackle the piracy of creative works were among the key
issues raised by participants at the Creative Industry Financing Conference.
”It is a measure of the increasing importance attached to
the industry by the Federal Government that these issues are now being handled
with utmost urgency. First, the ‘Pioneer Status’ has been granted within three
weeks of the conclusion of the conference. Secondly, an Anti-Piracy Committee,
comprising representatives of the Federal Ministry of Information and Culture,
industry stakeholders and the police, has been set up to work out the modality
for tackling piracy in a lasting and sustainable manner,” Alhaji Mohammed said.
He thanked the stakeholders in the Creative Industry for
supporting the Federal Government in its efforts that have succeeded in putting
the industry in the front burner of the economy and made it a key plank of the government’s
economic diversification policy.
”We are determined to do more for the Creative Industry in
order to allow the creative talents of our youths to blossom, create massive
jobs and position Nigeria as a global hub for the industry,” the minister said
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