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.
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