{"id":219,"date":"2018-10-03T15:07:00","date_gmt":"2018-10-03T15:07:00","guid":{"rendered":"http:\/\/thefreezoneblog.com\/blog\/2018\/10\/03\/nigeria-slashes-business-name\/"},"modified":"2018-10-03T15:07:00","modified_gmt":"2018-10-03T15:07:00","slug":"nigeria-slashes-business-name","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/nigeria-slashes-business-name\/","title":{"rendered":"Nigeria slashes business name registration fee by half"},"content":{"rendered":"
\n
\n<\/a><\/div>\n

<\/div>\n

\nNigeria\u2019s Vice President Yemi Osinbajo
\nhas announced approval of a 90-day special window to register businesses
\n at a reduced rate of US$16.4 (N5,000 ) only from US$32.8.<\/u><\/u><\/div>\n
\n<\/div>\n
\nMr. Laolu Akande, Senior Special
\nAssistant to the President on Media and Publicity, Office of the Vice
\nPresident in Abuja, said that Osinbajo made the announcement in Enugu.<\/u><\/u><\/div>\n
\n<\/div>\n
\nOsinbajo, who was quoted as making the
\nannouncement at the launch of the 19th edition of the Micro, Small and
\nMedium Enterprises (MSMEs) Clinics in Enugu, said the special window of
\n90 spanned from Oct. 1 to Dec. 31.<\/u><\/u><\/div>\n
\n<\/div>\n
\nHe said that the gesture was to further ease the process of registering MSMEs in the country.<\/u><\/u><\/div>\n
\n<\/div>\n
\n\u201cIt was observed during some of the
\nearlier editions of the MSMEs Clinics that a lot of MSMEs were finding
\nit difficult to register their businesses as a result of cost.<\/u><\/u><\/div>\n
\n<\/div>\n
\n\u201cThe practice since we began the MSMEs
\nclinics is that most agencies offer price reductions, especially for
\nregistration, and all other pre-investment approvals, during the
\nClinics.<\/u><\/u><\/div>\n
\n<\/div>\n
\n\u201cSo, I am pleased to announce that the
\nFederal Government, through the Corporate Affairs Commission, has
\napproved a special window of 90 days from Oct. 1 to Dec. 31 to register
\nbusinesses at a considerably reduced rate of N5,000
\n only, down from as much as N10,000 previously.\u2019\u2019<\/u><\/u><\/div>\n
\n<\/div>\n
\nHe said the action was taken to afford more MSMEs an opportunity to formalise their businesses.<\/u><\/u><\/div>\n
\n<\/div>\n
\nSpeaking on other initiatives by the Federal Government designed to consolidate the gains of the MSMEs Clinics, 
\nOsinbajo said that the Federal Government would be establishing shared facilities for MSMEs.<\/u><\/u><\/div>\n
\n<\/div>\n
\nHe said that the facilities would be
\nbased on a partnership between the Federal Government, interested
\nStates, Bank of Industry, NEXIM Bank, FIRS, NAFDAC, SON and interested
\nprivate sector partners, as part of 
\nefforts at deepening the impact of the Clinics.<\/u><\/u><\/div>\n
\n<\/div>\n
\n\u201cThe purpose of these shared facilities
\nis to have a fully-equipped place with machinery and equipment required
\nfor various trades and businesses. MSMEs can then do their businesses at
\n those locations at a reasonable cost.<\/u><\/u><\/div>\n
\n<\/div>\n
\n\u201cThis way, MSMEs are spared the financial burden of having to buy their own equipment in order to be able to do business.<\/u><\/u><\/div>\n
\n<\/div>\n
\n\u201cWhere possible, these shared facilities
\nwould have been pre-certified by relevant agencies, removing the need
\nfor MSMEs to pursue these certifications by themselves.\u2019\u2019<\/u><\/u><\/div>\n
\n<\/div>\n
\nHe also announced the Federal
\nGovernment\u2019s willingness to partner with State governments in
\nestablishing more One-Stop Shops, to further enhance business
\nregistration and facilitate seamless interaction between owners of small
\n businesses and the relevant regulatory agencies.<\/u><\/u><\/div>\n
\n<\/div>\n
\nThe vice president said that the Federal
\nGovernment was also aware that some States had gone on to set up
\n\u2018One-Stop Shops\u2019 after the Clinics.<\/u><\/u><\/div>\n
\n<\/div>\n
\nAccording to him, the One-Stop Shops will
\n bring all the relevant agencies together in one place so as to enable
\nthe MSMEs access their services on an ongoing basis.<\/u><\/u><\/div>\n
\n<\/div>\n
\n\u201cThe Federal Government is also willing
\nto partner with your State Government to immediately set up one such
\nplace for the good use of MSMEs in Enugu State,\u201d he said.<\/u><\/u><\/div>\n
\n<\/div>\n
\nOsinbajo also said there were follow-up
\nplans to ensure that all the finalists from the maiden edition of the
\nMSMEs Awards were supported with publicity and media exposure, to enable
\n them to reach even larger markets at home and
\n abroad.<\/u><\/u><\/div>\n
\n<\/div>\n
\nHe said that the ongoing disbursement of
\ncollateral and interest-free loans given to petty traders under the GEEP
\n TraderMoni programme would soon be launched in Enugu.<\/u><\/u><\/div>\n
\n<\/div>\n
\nEarlier in his remarks, Gov. Ifeanyi
\nUgwuanyi of Enugu state said the State government had already keyed into
\n some of the social investment programmes initiated by the Federal
\nGovernment.<\/u><\/u><\/div>\n
\n<\/div>\n
\nUgwuanyi promised that the state would
\ncontinue to cooperate with all federal authorities to improve the
\nwell-being of the people.<\/u><\/u><\/div>\n
\n<\/div>\n

<\/p>\n

\nThe governor expressed appreciation to
\nthe Federal Government for inaugurating the National MSMEs Clinics in
\nthe state as it would greatly improve the lives of many youths,
\nespecially those seeking employment opportunities.<\/div>\n","protected":false},"excerpt":{"rendered":"

Nigeria\u2019s Vice President Yemi Osinbajo has announced approval of a 90-day special window to register businesses at a reduced rate of US$16.4 (N5,000 ) only from US$32.8. Mr. Laolu Akande, Senior Special Assistant to the President on Media and Publicity, Office of the Vice President in Abuja, said that Osinbajo made the announcement in Enugu. […]<\/p>\n","protected":false},"author":1,"featured_media":1170,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[80],"class_list":["post-219","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-finance","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"\nNigeria slashes business name registration fee by half - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/nigeria-slashes-business-name\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigeria slashes business name registration fee by half - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"Nigeria\u2019s Vice President Yemi Osinbajo has announced approval of a 90-day special window to register businesses at a reduced rate of US$16.4 (N5,000 ) only from US$32.8. Mr. Laolu Akande, Senior Special Assistant to the President on Media and Publicity, Office of the Vice President in Abuja, said that Osinbajo made the announcement in Enugu. 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