Price of Business Registration With NIPC Slashed From N50,000 to N15,000

Business registration with the Nigerian Investment Promotion Commission (NIPC) has been slashed to N15,000 from N50,000 in a bid to encourage entrepreneurship, expansion and investments in Nigeria. The Minister for Trade and Investment, Olusegun Aganga, approved the new rate and takes effect immediately. The Head of Media and Publicity Unit of the NIPC, Joel Attah, said in a statement that, “It is also a very bold attempt at lowering the cost of doing business in Nigeria. This is expected to substantially enhance the country’s National Competitiveness as a Foreign Direct Investment Destination. In the light of this development, both new and existing investors are enjoined to take advantage of this gesture to ensure that they are duly registered with the commission.”