(1)
An application for economic development incentive certificate may be made by a company incorporated in Nigeria, companies granted exemption from incorporation or by promoters of a company which is yet to be incorporated.
(2)
An application for the issuance of an economic development incentive certificate by a company shall be considered under this section where the qualifying capital expenditure to be incurred by the company on or before production day, if the application is approved, is not below the amount specified in the Tenth Schedule to this Act.