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300,000 new businesses registered at N5,000 each – V-P Osinbajo


Vice-President Yemi Osinbajo has said the Federal Government is making  efforts to support small and medium-sized enterprises.

According to Punch news, V-P said  part of the effort was  the registration of about 300,000 new businesses by the Corporate Affairs Commission at N5,000 per company instead of N10,000 each.

A statement by the Deputy Director, Press,  Ministry of Labour and Employment, Mrs Rhoda Iliya, quoted Osinbajo to have stated this at the opening ceremony of the 2019 Growth and Employment EXPO and Conference for Micro Small and Medium Enterprises in Abuja on Monday.

She said the VP  was represented at the event by the ministry’s Minister of State, Festus Keyamo (SAN).

The statement said, “Speaking through the Minister of State for Labour and Employment, the VP said Nigeria was able to come out of recession and had moved 39 points up in the World Bank ease of doing business ranking in the last five years as a result of the Economic Recovery and Growth Plan of the Federal Government in  which the promotion of MSMEs is a component.”

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