As part of efforts to enhance the ease of doing business and to encourage the rise of entrepreneurship in Nigeria, the Federal of Government of Nigeria has cut down the cost of business registration to N5000.
This was made known by the Vice President, Yemi Osinbajo the launch of the 19th National Medium, Small and Micro Enterprises (MSMEs) Clinic in Enugu.
The new rate though would last for 90 days from October 1 to December 31 yet offers a 100% cut in the cost of business registration.
Osinbajo who lamented on the difficulty new businesses encounter with the cost of business registration said, the current gesture shown by the Federal Government was a way to show support for the business hub in Nigeria and also boost employment opportunities in the country.
“It was observed during some of the earlier editions of the MSMEs Clinics that a lot of MSMEs were finding it difficult to register their businesses as a result of cost.
“So, I am pleased to announce that the Federal Government, through the Corporate Affairs Commission, has approved a special window of 90 days from Oct. 1 to Dec. 31 to register businesses at a considerably reduced rate of N5000 only, down from as much as N10,000 previously.
“This will afford more MSMEs an opportunity to formalize their businesses,” he said.
1 Comment
Sir/Ma
Please i want to find out if this gesture is extended to all forms of business registration or if it’s only for an enterprise business.