CAC, SMEDAN Launch Free Business Registration Drive for 250,000 MSMEs
The Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have flagged off a nationwide initiative to provide free business registration for 250,000 nano, micro, and small enterprises across the country.
The programme was unveiled in Abuja on Friday during the signing of a Memorandum of Understanding (MoU) between the two agencies. According to a joint statement, the initiative is 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.
For years, many small businesses have struggled with the cost and bureaucracy of formalisation, leaving millions in the informal sector and unable to access finance, markets, or government support. The new CAC–SMEDAN scheme seeks to break this barrier by fully covering registration costs while linking beneficiaries to SMEDAN’s MSME database.
Through the database, registered businesses will enjoy access to aftercare support, including grants, training, technical assistance, and market linkages.
Speaking at the event, Magaji said the initiative aligns with President Bola Tinubu’s economic reforms designed to expand opportunities for entrepreneurs nationwide. He disclosed that the Commission was foregoing about N3 billion in registration fees to make the scheme possible.
“This drive is about breaking down 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,” Magaji stated.
On his part, SMEDAN boss Odii stressed that the drive would help reduce illegal businesses and the collapse rate of SMEs. He noted that formalisation is the gateway to accessing government support and urged entrepreneurs to register on the agency’s portal at portal.smedan.gov.ng.
“Every MSME in our database without CAC registration will be offered this free registration initiative. For those who are not digital natives, our state offices nationwide and business clinics will provide support,” he said.
Odii further explained that recent tax reforms—set to take effect in 2026—would raise the exemption threshold, easing concerns that registration automatically leads to taxation. He also clarified that the upcoming CAC fee review would not affect the 250,000 free registrations.
Both officials commended President Tinubu for his commitment to MSME growth, noting that the initiative reflects his Renewed Hope agenda of creating an enabling environment for entrepreneurship.
How to Apply:
- Visit portal.smedan.gov.ng and complete the registration form.
- MSMEs already on SMEDAN’s database without CAC registration automatically qualify.
- Once registered, beneficiaries will be contacted with next steps for CAC certification.
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