FG registers 16,472 new businesses in Q1

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CAC to expand scope of online operationsArticle | April 23, 2012 – 4:58pm | By Eki Toju

The Federal Government has announced that it successfully registered 16,472 companies within the first three months of the year 2012.

The Minister of Trade and Investment, Olusegun Aganga, confirming this development in Abuja, added that the Ministry was currently expanding the scope of online operations of the Corporate Affairs Commission (CAC) to enable it perform optimally.

According to him, the ongoing reform in the Nigerian business environment, including the setting up of the ‘Doing Business and Competitiveness’ and Investor Care committees would result in an improvement in the nation’s ‘Doing Business’ ranking very soon.

“Currently, we are working with all the stakeholders, including the private sector and the DFID, to improve the ease of doing business in the country. Our strategy is to work with them to make our businesses environmentally friendly and globally competitive,” the Minister said.

“Our long-term goal is to ensure that businesses can be started in this country within 48 hours, and ultimately 24 hours. Already, a number of state governments are harmonising taxes and levies among themselves and the local governments, in their domains. This is to avoid saddling companies in their domain with excessive tax burdens.”

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