Yemi Osinbajo says you can now register your business in Nigeria for as little as N5,000.
To be fair, it used to cost a lot more, especially when you factor in how many palms you have to grease to get the business registration process over the line.
But, hey, this N5,000 business registration bonanza is only for a period of time. How we hated breaking that to you!
Speaking at the launch of the 19th edition of the National MSMEs Clinic in Enugu, Osinbajo said the federal government has approved a 90-day special window to register businesses at a reduced rate of N5000 only.
The special window of 90 days starts from October 1 to Dec 31, 2018, Osinbajo said.
“It was observed during some of the earlier editions of the MSME Clinics that a lot of MSMEs were finding it difficult to register their businesses as a result of cost”, the vice president said.
He added that “the practice since we began the MSME 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 yesterday October 1st to Dec 31st 2018, 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.”
MSMEs simply means Medium, Small and Micro Enterprises.