The Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have unveiled a nationwide initiative to provide free business registration for 250,000 nano, micro, and small enterprises.
The scheme, announced in Abuja during the signing of a Memorandum of Understanding between the two agencies, aims to ease the burden of formalisation for entrepreneurs long deterred by cost, bureaucracy, and lack of awareness.
According to a joint statement issued on Friday, the campaign forms part of activities marking the second anniversary in office of CAC Registrar-General Hussaini Magaji and SMEDAN Director-General Charles Odii, who were both appointed in October 2023.
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Magaji said the drive reflects ongoing reforms under President Bola Tinubu’s administration designed to expand opportunities for small businesses. He noted that the Commission is foregoing about N3 billion in registration fees to make the initiative possible.
“This drive is about breaking down the barriers that keep too many of our small businesses informal,” he said. “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.”
Odii explained that the collaboration would reduce the number of illegal businesses and strengthen the survival rate of SMEs. He added that every MSME on SMEDAN’s database without CAC registration would automatically qualify for the free registration drive.
“Formalisation is the gateway to support,” Odii said. “By ensuring these businesses are registered and onboarded into our database, we can provide continuous aftercare whether that is access to grants, training, or new markets.”
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The agencies emphasised that the initiative also complements the government’s broader economic reforms, including the new tax framework coming into effect in 2026, which raises the exemption threshold for small businesses.
How to apply:
- Visit portal.smedan.gov.ng and complete the registration form.
- MSMEs already on SMEDAN’s database without CAC registration will automatically qualify.
- Beneficiaries will be contacted with the next steps for CAC certification.
Officials from both agencies commended President Tinubu for his commitment to lowering barriers for entrepreneurs and pledged that the scheme will contribute to building a stronger MSME ecosystem in line with the Renewed Hope agenda.
Esther Ososanya is an investigative journalist with Pinnacle Daily, reporting across health, business, environment, metro, Fct and crime. Known for her bold, empathetic storytelling, she uncovers hidden truths, challenges broken systems, and gives voice to overlooked Nigerians. Her work drives national conversations and demands accountability one powerful story at a time.
