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FG Slashes Business Registration Fees By 50% - Business - Nairaland

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FG Slashes Business Registration Fees By 50% by awodman: 9:33pm On Oct 08, 2013
The Federal Government has slashed business registration fees in Nigeria by 50 per cent to encourage investors to invest in the country.

The Minister of Industry, Trade and Investment, Olusegun Aganga, said this in a statement issued on Tuesday in Abuja by Yemi Kolapo, his Special Assistant on communications.

It explained that the Corporate Affairs Commission (CAC) had reduced the fees for equity registration by 50 per cent for equities of N500 million or lower.

According to the statement, the commission also reduced the fees by 25 per cent for equity registrations from N500 million and above.

The statement explained that the rationale behind the reduction of business registration fees was to increase investment inflow into the country.

It said that the initiative was in line with the ministry’s investment climate reform programme aimed at strategically repositioning Nigeria as preferred destination for both local and foreign investments.

“Following the directive from the President, the Corporate Affairs Commission has since October 1, 2013, slashed fees for business registration by 50 per cent.

“Under the new regulations, capital registration fees for Companies (under Part A) have been reduced across board, while capital registrations below one million naira will retain a flat fee of N10,000.

“All registrations between one million naira and N500 million are reduced by 50 per cent and all registrations above N500 million are reduced by 25 per cent,” it stated.

According to the statement, the review of the registration fees will enable Nigerian companies to save more than N2 billion per annum, which can be used to sustain their businesses, hire more staff and expand operations.

It added that the new regulation had been deliberately set up to ensure the bulk of these savings would go to smaller businesses to strengthen them.

http://premiumtimesng.com/business/146248-nigeria-slashes-business-registration-fees-50.html

8 Likes

Re: FG Slashes Business Registration Fees By 50% by taharqa: 9:57pm On Oct 08, 2013
awodman:
“Following the directive from the President, the Corporate
Affairs Commission has since October 1, 2013, slashed fees for business registration by 50 per cent.

“Under the new regulations, capital registration fees for
Companies (under Part A) have been reduced across board,while capital registrations below one million naira will retain a flat fee of N10,000.

“All registrations between one million naira and N500
million are reduced by 50 per cent and all registrations
above N500 million are reduced by 25 per cent,” it stated.

According to the statement, the review of the registration
fees will enable Nigerian companies to save more than N2
billion per annum, which can be used to sustain their
businesses, hire more staff and expand operations
.

It added that the new regulation had been deliberately set up to ensure the bulk of these savings would go to smaller businesses to strengthen them.


premiumtimesng.com/business/146248-nigeria-slashes-business-registration-fees-50.html

Very Good/Strategic move..... by the Min of Trade and Investment

The sort of stuff that Nigerian businesses have been asking for for the longest time

3 Likes

Re: FG Slashes Business Registration Fees By 50% by Freeanijoo(m): 10:01pm On Oct 08, 2013
Gradually we will get there?

1 Like

Re: FG Slashes Business Registration Fees By 50% by israel007: 11:04pm On Oct 08, 2013
In simple terms: how much is limited liability company of 1000000 shares.

2 Likes

Re: FG Slashes Business Registration Fees By 50% by talk2s(m): 11:24pm On Oct 08, 2013
"...Following the directive of the president..."
Who blindly and dumply argues that GEJ is not a blessing to Nigeria or that he won't continue till 2019?
Fresh Air everywhere.
Haters...
Front page things.

26 Likes

Re: FG Slashes Business Registration Fees By 50% by solomon111(m): 2:35am On Oct 09, 2013
Yet someone like ba7man will be asking for GEJ's policies responsible for the growth of foreign investment in Nigeria.

1 Like

Re: FG Slashes Business Registration Fees By 50% by awodman: 4:40am On Oct 09, 2013
solomon111: Yet someone like ba7man will be asking for GEJ's policies responsible for the growth of foreign investment in Nigeria.
This one is bookmarked for when next he ask such a silly question

1 Like

Re: FG Slashes Business Registration Fees By 50% by SterlingTowers(m): 6:14am On Oct 09, 2013
They should also address multiple taxation on businesses in NIgeria particularly Lagos State, it is really hurting a lot of business concerns. Well that was a nice strategic move by aganga, to jump start the almost comatose economy of Nigeria that NOI has shot in the head with her lethal and mortal incompetence.

4 Likes

Re: FG Slashes Business Registration Fees By 50% by kreamidiva(f): 10:08am On Oct 09, 2013
Good one!

But na bad market for us lawyers o! cry angry

3 Likes

Re: FG Slashes Business Registration Fees By 50% by everyday: 10:09am On Oct 09, 2013
If they wish to encourage local enterprises let them give us regular power

3 Likes

Re: FG Slashes Business Registration Fees By 50% by Nobody: 10:09am On Oct 09, 2013
Good one
Re: FG Slashes Business Registration Fees By 50% by Nobody: 10:10am On Oct 09, 2013
everyday: If they wish to encourage local enterprises let them give us regular power

After regular power, u will complain of no job, after that u will complain of water supply...
Get a life bro

1 Like

Re: FG Slashes Business Registration Fees By 50% by Arosa(m): 10:11am On Oct 09, 2013
Nice one.
Re: FG Slashes Business Registration Fees By 50% by Nobody: 10:12am On Oct 09, 2013
grin Make i rush go register Nairaland college.....Grooming fo.ols since 2005!

2 Likes

Re: FG Slashes Business Registration Fees By 50% by Nobody: 10:12am On Oct 09, 2013
/
Re: FG Slashes Business Registration Fees By 50% by iamswizz(m): 10:12am On Oct 09, 2013
This fresh Air is turning to a tornado... Please Gej reduce it 4 me o..



Haters una don wake up from sleep?
Re: FG Slashes Business Registration Fees By 50% by Princeemzzy(m): 10:13am On Oct 09, 2013
Good move from jonathan
Re: FG Slashes Business Registration Fees By 50% by dheaven: 10:13am On Oct 09, 2013
A very good move by federal Government to encourage we the investors and give more jobs to Nigerians.

1 Like

Re: FG Slashes Business Registration Fees By 50% by Nobody: 10:16am On Oct 09, 2013
Cosmetic like ms oduah. Registration is a one off transaction.

Put in place real policies like tax breaks and low interest loans.

Joker.

5 Likes

Re: FG Slashes Business Registration Fees By 50% by AkinDavid2: 10:17am On Oct 09, 2013
Companies (under Part A) have been reduced across board,while capital registrations below one million naira will retain a flat fee of N10,000.

@awodman
Which company can fit in to Part A kindly explain?
Re: FG Slashes Business Registration Fees By 50% by agrovick(m): 10:17am On Oct 09, 2013
How?kindly explain
kreami diva: Good one!

But na bad market for us lawyers o! cry angry
Re: FG Slashes Business Registration Fees By 50% by Theben(m): 10:17am On Oct 09, 2013
There should also be a drastic reduction in interests on loans.

3 Likes

Re: FG Slashes Business Registration Fees By 50% by untainted: 10:18am On Oct 09, 2013
Is there anything wrong in demanding for all those?
After all, years back we demanded for functional telephone lines.
However, I strongly believe GEJ has done well


Promhize:

After regular power, u will complain of no job, after that u will complain of water supply...
Get a life bro

2 Likes

Re: FG Slashes Business Registration Fees By 50% by stevolinkon40: 10:21am On Oct 09, 2013
dheaven: A very good move by federal Government to encourage we the investors and give more jobs to Nigerians.
TIME FOR ME TO REGISTER MY BUSINESS

2 Likes

Re: FG Slashes Business Registration Fees By 50% by dustydee: 10:23am On Oct 09, 2013
awodman:

According to the statement, the review of the registration fees will enable Nigerian companies to save more than N2 billion per annum, which can be used to sustain their businesses, hire more staff and expand operations.
How? Can someone please explain how? How much is the cost of registring a company and how many times does one register a company? How will the 50% savings be used to sustain employees?

3 Likes

Re: FG Slashes Business Registration Fees By 50% by validplanet: 10:23am On Oct 09, 2013
so, how much to register a business name now?

1 Like

Re: FG Slashes Business Registration Fees By 50% by nigerfine: 10:24am On Oct 09, 2013
Great move , to open a business name in USA is as simple as going to open bank account . This helps so much.
Re: FG Slashes Business Registration Fees By 50% by kezyuzoeto(m): 10:25am On Oct 09, 2013
Blackberry tourch1 for sell at a giv away price
Its neatly used and sound...contact kizito @ 07033171485.
Re: FG Slashes Business Registration Fees By 50% by Arosa(m): 10:27am On Oct 09, 2013
Promhize:

After regular power, u will complain of no job, after that u will complain of water supply...
Get a life bro

It's the right of all citizens to demand for positive change, while it's the responsibility of the government to implement this change or to resign if incapable.

1 Like

Re: FG Slashes Business Registration Fees By 50% by Webmoneycccom: 10:29am On Oct 09, 2013
Slow and steady win the race, No matter what the condition of Nigeria is now, Nigeria will be the home of all Nations in No distance Time. There will be sunshine after the rain.

1 Like

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