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For the next 90 days, business registration will cost only N5,000

For the next 90 days, business registration will cost only N5,000
October 03
10:37 2018
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From October 1 to December 31, business registration will cost N5000.

According to a statement released on Tuesday, Vice President Yemi Osinbajo made the announcement in Enugu at the launch of the 19th edition of the Micro, Small and Medium Enterprises (MSMEs) Clinics.

At present, business registration with the Corporate Affairs Commission (CAC) costs N10,000.

“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,” the statement released by Laolu Akande, senior special assistant to the vice president on media and publicity, quoted him to have said.

“The practice since we began the MSMEs clinics is that most agencies offer price reductions, especially for registration, and all other pre-investment approvals, during the Clinics.

“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 formalise their businesses.”

Osinbajo said the federal government will introduce shared facilities for MSMEs.

He said the facilities would be based on a partnership between the federal government, interested states, Bank of Industry, NEXIM Bank, FIRS, NAFDAC, SON and interested private sector partners.

“The purpose of these shared facilities is to have a fully-equipped place with machinery and equipment required for various trades and businesses. MSMEs can then do their businesses at those locations at a reasonable cost,” he explained.

“This way, MSMEs are spared the financial burden of having to buy their own equipment in order to be able to do business.

“Where possible, these shared facilities would have been pre-certified by relevant agencies, removing the need for MSMEs to pursue these certifications by themselves.”

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20 Comments

  1. Tolu
    Tolu October 05, 09:46

    where can i confirm this in ibadan? will secretariat be a good place?

    Reply to this comment
  2. Daddy
    Daddy October 05, 19:03

    Where can I confirm this in Kaduna

    Reply to this comment
  3. mofe
    mofe October 05, 19:32

    where can i confirm this in sokoto

    Reply to this comment
  4. Arewa
    Arewa October 10, 16:28

    Wow….thasnk to the government about this….i really appreciate it

    Reply to this comment
  5. Kolombiri
    Kolombiri October 12, 13:26

    This is a very good initiative that may translate to growth and development of Nigeria if properly implemented. Time will tell.

    Reply to this comment
  6. Ruth
    Ruth October 16, 21:15

    Where can I confirm this in lagos

    Reply to this comment
  7. Bebiya
    Bebiya October 24, 11:30

    Hi. This is a much appreciated initiative by the Vice President. However in kaduna we are being asked to pay an annual renewal fee for registering a business after paying the initial 10,000. It’s like a crime to establish a business. What do you have to say about that?

    Reply to this comment
  8. Ultimate
    Ultimate November 12, 08:11

    Where can I confirm these in ekiti And what are the requirements, terms and conditions for registration

    Reply to this comment
  9. Pete
    Pete November 14, 09:10

    Have you done successfully?
    Can you share your experience with me?

    Reply to this comment
  10. jamber
    jamber November 23, 08:53

    Your comment..where can I confirm it in IMO state.

    Reply to this comment
  11. Bashy
    Bashy November 25, 21:58

    Your comment. Where can I confirm these in Lagos

    Reply to this comment
  12. Tmama
    Tmama November 27, 07:05

    Were can I confirm this in abuja

    Reply to this comment
  13. Olive
    Olive December 03, 21:16

    Where can I confirm this in osogbo

    Reply to this comment
  14. Escopeman
    Escopeman December 05, 14:49

    Where can I confirm these in Ondo State

    Reply to this comment
  15. Ovevo
    Ovevo December 06, 00:47

    Please, can this be done online? I am interested.

    Reply to this comment
  16. Andy best
    Andy best December 06, 05:50

    Pls where close to ikeja can I confirm and go ahead with this pls ur quick response is highly appreciated

    Reply to this comment
  17. Alex uantioje
    Alex uantioje December 08, 22:05

    Pls where can i comfirn this here in lagos

    Reply to this comment
  18. Sewedo james
    Sewedo james December 16, 00:41

    Please where can I confirm this is Lagos badagry

    Reply to this comment
  19. Adebisi Adewale
    Adebisi Adewale December 17, 06:54

    Business Registration

    Reply to this comment

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Exchange Rates

December 14, 2018USDGBPEUR
INTERBANK306397354
LAGOS365467411
KANO365465415
PH364466412
ABUJA364465413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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