CAC, SMEDAN unveil free business registration for 250,000 MSMEs The Corporate Affairs Commission and the Small and Medium Enterprises Development Agency of Nigeria have launched a nationwide drive to provide free business registration for 250,000 nano, micro, and small enterprises.
The initiative was announced in Abuja during the signing of a Memorandum of Understanding between the two agencies.
A statement issued by both agencies on Friday noted that the campaign forms part of activities marking the second year in office of CAC Registrar-General Hussaini Magaji and SMEDAN Director-General Charles Odii, who were both appointed in October 2023.
Formalisation has long been a hurdle for many small businesses, with cost, bureaucracy, and lack of awareness keeping millions of entrepreneurs in the informal sector. This often denies them access to finance, markets, and government support. The new CAC–SMEDAN scheme removes these barriers by covering the cost of registration and linking beneficiaries directly to SMEDAN’s MSME database.
Through this database, registered businesses will gain access to aftercare and opportunities such as grants, capacity-building programmes, technical support, and market linkages.
Speaking at the event, the CAC Registrar-General said ongoing reforms under President Bola Tinubu’s administration were designed to expand opportunities for small businesses and entrepreneurs across the country. Highlighting recent policies, he noted that Nigeria was “witnessing unprecedented investment in infrastructure, the unification of the exchange rate, and targeted support such as the N200bn economic assistance programme for nano businesses, SMEs and manufacturers.
“This drive is about breaking down the barriers that keep too many of our small businesses informal. By removing the cost of business name registration for 250,000 businesses, we are helping more entrepreneurs take the first step towards growth, legitimacy, and access to bigger opportunities. It is also an investment in the MSME ecosystem, as the Commission is forgoing approximately N3bn in registration fees to make this possible.” CAC is about to review its fees. But irrespective of that review, 250,000 small businesses across the 36 states and the Federal Capital Territory will get free registration,” he added.
Both officials praised President Tinubu for his strong and meaningful commitment to MSME development and the broader economic agenda, noting that the initiative reflects his vision of lowering barriers for entrepreneurs and creating an enabling environment for growth.
The free business name registration drive is designed to strengthen Nigeria’s MSME ecosystem by promoting formalisation and reducing barriers to growth, in line with the Federal Government’s Renewed Hope vision.
How to apply:
1. Visit portal.smedan.gov.ng and complete the registration form.
2. MSMEs already on SMEDAN’s database without CAC registration will automatically qualify for the free registration drive.
3. Once registered with SMEDAN, beneficiaries will be contacted with the next steps for CAC certification.
The punch
