Support for SMEs: Buhari approves free registration for small businesses

Support for SMEs: Buhari approves free registration for small businesses

- The federal government's Economic sustainability plan has massively kicked-off

- About 250,000 MSMEs across the 36 states and FCT will benefit from the free business registration

- This is coming after the federal government approved the payment of N30,000 grant to 330,000 Nigerian artisans

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As part of the Economic Sustainability Plan (ESP) of the federal government, President Muhammadu Buhari has given approval for the free registration of business names for 250,000 small and medium-sized enterprises.

The disclosure was made on Wednesday, October 28, by the federal government in a series of tweets.

This means the Corporate Affairs Commission (CAC) has been given the nod to commence the registration of the MSMEs across the states marked as beneficiaries in the ongoing economic plan.

Meanwhile, 7,906 free registrations will be done in the Federal Capital Territory (FCT), 9,084 in Lagos and 8,406 in Kano state. 6,606 businesses will benefit from the free business names in each of the remaining 34 states.

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BREAKING: FG begins payment of N30,000 grants to 333,000 artisans nationwide

Earlier, the federal government flagged off the economic plan with a statement from the office of the vice president, Prof Yemi Osinbajo, confirming the payment of N30,000 one-time grant to 330,000 artisans across the country.

Support for SMEs: Buhari approves free registration of small business businesses
About 250,000 MSMEs across the nation will benefit from the free registration. Credit: MBuhari (Twitter)
Source: Twitter

The statement signed by Laolu Akande, spokesman to the vice president, revealed that the payments are being made to sets of verified beneficiaries of the Artisan Support Scheme, a track under the MSMEs Survival Fund.

Akande further said the early beneficiaries are being drawn from the FCT, Lagos, Ondo, Kaduna, Borno, Kano, Bauchi, Anambra, Abia, Rivers, Plateau and Delta states.

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In a related development, a foremost political scholar and visiting fellow at the London School of Economics and Political Science (LSE), Dr Uche Igwe has described state governors who stored palliatives meant for distribution to hungry citizens as pretenders.

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In a statement sent to journalists on Monday, October 26, Igwe described the act of the governors as sheer wickedness, adding that it is inexcusable.

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