The Federal Government approved the application of 33 companies seeking pioneer status under the Industrial Development Income Tax Act in 2021.

This was contained in the quarterly PSI reports released by the Nigeria Investment Promotion Commission.

The reports also revealed that investments made by the 33 companies during the year amounted to N543.88bn.

It also noted that the government declined the applications submitted by 10 investing firms including the popular FinTech, Flutterwave, during the review period.