FG slashes business name registration fee

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Osinbajo expects economy to pick up after sluggish Q2

Vice President, Prof Yemi Osinbajo

The Federal Government has announced approval of a 90-day special window to register businesses at a reduced rate of N5,000 only from N10,000.

The Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, Laolu Akande, in a statement in Abuja, said that Vice President, Yemi Osinbajo, made the announcement in Enugu.

Osinbajo, who was quoted as making the announcement at the launch of the 19th edition of the Micro, Small and Medium Enterprises (MSMEs) clinics in Enugu, said the special window of 90 spanned from Oct. 1 to Dec. 31.

The Vice President said that the gesture was to further ease the process of registering MSMEs in the country.

He said, “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.”

Osinbajo said the action was taken to afford more MSMEs an opportunity to formalise their businesses.