Mabon Limited Seeks Pioneer Status Support To Deepen Nigeria’s Energy Sector
Oru Leonard
A foremost player in Nigeria’s hydropower landscape, MABON Limited, paid a strategic visit to the Honourable Minister of State for Industry, Senator John Owan Enoh, on Thursday, June 26, 2025. The visit was centered on securing government support for pioneer status recognition and other industrial development incentives.
During the engagement, MABON’s Managing Director and Chief Executive Officer, Mr. Richard Madubunyi, presented the company’s case for approval of a pioneer status tax holiday under the Industrial Development (Income Tax Relief) Act. With over 40 years of dedicated contributions to Nigeria’s renewable energy matrix, the indigenous firm emphasised its central role in the nation’s energy diversification and industrial growth strategy.
Mr. Madubunyi outlined key requests including:
– Fast-track approval of MABON’s application for pioneer status
– A 5-year tax holiday with a possible 2-year extension
– Consideration for additional investment incentives such as duty waivers and VAT exemptions on hydro-energy infrastructure
– Access to concessionary financing from the Bank of Industry (BOI)
He highlighted the company’s 2024 milestone achievement of generating over 40 megawatts of clean hydropower, aligning squarely with Nigeria’s energy transition roadmap and local content enhancement agenda.
In response, Senator Enoh commended MABON Limited’s enduring commitment to national development through sustainable energy solutions. He reaffirmed the Federal Government’s resolute support for indigenous companies at the forefront of critical sectors.
“MABON’s efforts in hydropower development reflect the resilience and innovation Nigerian businesses are capable of. The Ministry will thoroughly review your application with a view to facilitating its progress. We encourage your team to work closely with the Industrial Development Department to explore all available fiscal and operational incentives.” Enoh stated.
The Minister assured that the government remains focused on nurturing local capacity, enhancing self-sufficiency, and strengthening value chains in sectors that serve the everyday needs of Nigerians.
MABON’s leadership expressed gratitude for the warm reception and positive signals from the Ministry, reaffirming their commitment to delivering scalable energy solutions in Nigeria.
(Honourable Minister of State for Industry Media, 27/6/2025)
