Home Billionaire's Club Federal Government Announces Slash In Business Name Registration Fees

Federal Government Announces Slash In Business Name Registration Fees


The Vice president Of Nigeria, Yemi Osinbajo has announced recently in an event that there is a 90-day special window to register businesses at a reduced rate of N5000 only from former price of N10,000.

This was made known at the 19th edition of the Micro, Small and Medium Enterprises (MSMEs) clinics in Enugu, by the senior special assistant to the president on media and publicity, the office of the vice president in Abuja.

The special window will span from Oct 1 to Dec 31, the vice president had this to say;

“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 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 N5,000 only, down from as much as N10,000 previously.’’

“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.

“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.’’

He also announced the Federal Government’s willingness to partner with State governments in establishing more One-Stop Shops, to further enhance business registration and facilitate seamless interaction between owners of small businesses and the relevant regulatory agencies.

“The Federal Government is also willing to partner with your State Government to immediately set up one such place for the good use of MSMEs in Enugu State,” he said.


Vice President Osinbajo also said there were follow-up plans to ensure that all the finalists from the maiden edition of the MSMEs Awards were supported with publicity and media exposure, to enable them to reach even larger markets at home and abroad.

He said that the ongoing disbursement of collateral and interest-free loans given to petty traders under the GEEP TraderMoni programme would soon be launched in Enugu.


Earlier in his remarks, Gov. Ifeanyi Ugwuanyi of Enugu state said the State government had already keyed into some of the social investment programmes initiated by the Federal Government.



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