Section 166

(1) The sectors listed in the Tenth Schedule to this Act are classified
Sectors as priority sectors for the purposes of economic development tax incentives.
Tenth
Schedule
Tenth (2) The period of incentives for any priority sector shall be as provided in
Schedule
the Tenth Schedule to this Act.
Tenth (3) The President may direct an amendment to the list contained in the
Schedule
Tenth Schedule to this Act, where, in his opinion –
(a) any sector is not operating on a scale suitable to the economic
requirements of Nigeria, or there are favourable prospects of further
development;
(b) it is expedient in the public interest to encourage the development or
establishment of a sector in Nigeria for the purpose of –
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(i) generating employment,
(ii) attracting foreign direct investment inflow, or
(iii) economic diversification;
(c) any sector, product or service within a sector, is considered to have
Tenth
been sufficiently developed to necessitate its removal from the list contained Schedule
in Tenth Schedule to this Act.